Norfolk Southern: Customers invested $4.3B in new, expanded facilities in 2024

Norfolk Southern Railway customers in 2024 advanced 149 industrial development projects, representing $4.3 billion in investment for new or expanded facilities on NS or a short line partner’s lines, the company announced today.

Of those projects, 65 reached completion and began shipping with NS, representing $1.2 billion in investment and 1,700 jobs, NS officials said in a press release.

These projects are a subset of an industrial development pipeline with more than 450 projects that customers have identified for future growth. The active pipeline is estimated to generate more than 150,000 incremental carloads for NS and $9 billion in customer investment for regional economies over the next few years, NS officials said.

NS leaders noted a rise in industrial development across several sectors in 2024, including steel and metals production; plastics; renewable fuels; component manufacturing for power generation; and cold storage, food processing and pet food production.

“As we look ahead to 2025, we are intensifying efforts to enhance our portfolio of development-ready sites, laying the groundwork so customers who select Norfolk Southern’s rail-served properties will benefit from accelerated speed-to-market along with sustainable and reliable transportation solutions," said Executive Vice President and Chief Marketing Officer Ed Elkins.

Over the past year, NS sharpened its portfolio of rail-served industrial sites. Three of the Class I's PRIME Sites received the Readiness Evaluation for Development and Investment (REDI) in 2024. The REDI Sites designation means sites have undergone rigorous assessment by the world’s foremost group of site selection consultants who make up the Site Selectors Guild.

“By investing in development-ready sites across our network, we are helping companies make informed decisions, positioning them in locations optimized for rail connectivity and logistical efficiency. This approach not only supports their growth but also strengthens the economic vitality of the communities we serve," said Group Vice President of Industrial Development Craig Hudson.

Also in 2024, NS advanced key real estate initiatives to support freight growth and customer expansions. NS acquired 523.7 acres across 14 states, representing a $45.6 million, to improve network fluidity, enhance capacity and promote future development opportunities.

The railroad also sold 377 acres for rail integrated solution projects, such as warehouse development and transload facilities, as well as carbon sequestration initiatives.