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June 2024
Industrial trackwork is a huge part of what our members do to construct, maintain and repair rail infrastructure. Yet this important segment of our business hasn’t received the attention it deserves. That is, until the 2024 NRC Conference last January.
Our first-ever panel discussion on industrial development was one of the best-attended and highest-rated sessions of the conference. Thanks to our diverse group of panelists representing key areas of industrial development, conference attendees gained valuable insights and best practices for cultivating these opportunities.
I’ve spent a considerable part of my career working on a variety of industrial development projects. I know firsthand that these projects don’t just change communities – they pave the way for lasting business relationships that mature into long-term maintenance, capital improvement and potential expansion projects.
That may explain why, when I looked around the room during this conference session, I witnessed a lot of interaction and heads nodding in agreement. So many of our NRC member companies rely on and are successful with this type of work. Here are some of the primary takeaways our panelists shared during this informative session.
Cultivate relationships with key influencers – Successful industrial development projects are a testament to effective networking. They are all about connecting with quality professionals with diverse perspectives who can put their expertise into action. Our panelists represented the railroad, contractor, engineer and supplier perspectives. They emphasized the importance of also building relationships with commercial and industrial real estate brokers and developers, as well as state and local economic and business development representatives.
Panelists said establishing these relationships over time builds trust and produces results. Involved parties benefit from the give-and-take of sharing business ideas and experiences. These interactions also help to identify market trends, uncover leads and collaborate with other strategic partners.
Get in early – The panelists shared that their favorite projects are those where they get involved in early so they can be creative and add value. During initial discussions, determine the customer’s expectations for the end product. Talk to the operating railroad and regulatory agencies early to make sure there are no issues. Establish a strong and solid team, vet subcontractors and suppliers, and encourage open discussions with ongoing communications. Through it all, foster a team approach and you will get it built faster.
Leverage your qualifications and experience – Don’t underestimate the value your relevant experience brings to these projects. Your understanding – of train lengths and railroad practices, past successes and even failures, innovative materials, and new ways of looking at existing infrastructure – can maximize the potential of a project site and dramatically impact the plans and execution. Be confident of the value you bring to the project!
Conference attendees can expect more on industrial trackwork and related development opportunities at our 2025 conference next January in Marco Island, Florida. In the meantime, keep an eye out for these opportunities. Businesses, municipalities and short lines are among parties that frequently come to the NRC to inquire about contractors and suppliers in their area who can participate in these types of projects. That’s when the value of your membership translates into an immediate business lead!
Please let me know what’s on your mind about industrial development or any other way the NRC can better address your needs. Contact me at info@nrcma.org.
I truly believe we aren't just in this industry ... we ARE this industry!
"Building a Safer and Stronger Railway Construction Industry Together!"
Joe Daloisio, NRC chairman The National Railroad Construction & Maintenance Association Inc.80 M Street, S.E. Washington, D.C. 20003202-715-2920nrcma.org info@nrcma.org
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