Nov. 2, 2009 (PR Newswire) --
PHILADELPHIA, Nov. 2 /PRNewswire-FirstCall/ -- Norfolk Southern (NYSE: NSC) and the Commonwealth of Pennsylvania are investing $11 million in the railroad's Philadelphia Navy Yard intermodal facility to expand track and parking capacity. The expansion is part of Norfolk Southern's multi-state Crescent Corridor initiative to establish a high-speed intermodal freight rail route between the Gulf Coast and the Northeast. The proposed investment -- $6 million from Norfolk Southern and $5 million from Pennsylvania -- will create the capacity to handle more than 72,000 containers and trailers annually. Construction is scheduled to begin in mid-2010.
"Because of its strategic location to Southeastern Pennsylvania, South Jersey, and Delaware, expansion of the Philadelphia Navy Yard intermodal facility is critical to the success of our Crescent Corridor," said Wick Moorman, Norfolk Southern's chief executive officer. "We commend Gov. Ed Rendell for his efforts to provide state funding for our intermodal terminal initiatives in the commonwealth. We want to thank Sens. Robert Casey and Arlen Specter for their support of a public-private partnership with the U.S. Dept. of Transportation so that Pennsylvania will benefit from the economic development opportunities and job growth potential of integrated logistics hubs. We also want to express our gratitude to the members of the Pennsylvania congressional delegation who support the Crescent Corridor, including Reps. Bob Brady, Charlie Dent, Chakah Fattah, Jim Gerlach, Tim Holden, Patrick Murphy, Todd Platts, Allyson Schwartz, and Bill Shuster. Finally, we express our appreciation to Mayor Michael Nutter and the region's economic development agencies and authorities for their efforts to improve freight transportation infrastructure in Philadelphia and the Delaware Valley."
"Rail freight is an important component of any transportation infrastructure discussion," Governor Edward G. Rendell said. "The Philadelphia Navy Yard intermodal facility will serve Pennsylvania, New Jersey, and Delaware, creating good jobs, generating revenue locally, and helping reduce highway congestion. Pennsylvania has invested heavily in rail freight because it is a smart, environmentally friendly, cost-effective infrastructure investment. I will continue to advocate for rail freight investments at the state and national level."
"Philadelphia has been a rail transportation hub for the Mid-Atlantic region for more than 100 years," said Mayor Michael Nutter.
