Norfolk Southern will move its HQ to Atlanta

The announcement was expected for months, but yesterday Norfolk Southern Corp. made it official: The Class I will move its corporate headquarters from Norfolk, Virginia, to Atlanta.

NS is in advanced discussions to purchase a site from Cousins Properties at 650 W. Peachtree St. NW in Midtown Atlanta, where the railroad plans to build its new headquarters. Progress on the move has begun and will span the next several years as the facility is built, NS officials said in a press release.

"Norfolk Southern is excited to embark on a new future in the city of Atlanta," said NS Chairman, President and Chief Executive Officer James Squires. "This future depends on collaboration with customers, suppliers, and partners — and ready access to technology, talent and our 22-state network. A unified office team in a new Atlanta headquarters will connect Norfolk Southern with every resource needed for success."

Cousins Properties will manage development of the new headquarters, NS officials said. Additional details are expected during first-quarter 2019.

A new NS headquarters in Atlanta — where the railroad already has extensive operations — will have a major impact on the metro region, state and city officials said in press releases. According to Georgia Gov. Nathan Deal, NS will invest $575 million and create 850 jobs in Midtown. The company's expanded presence in Atlanta will have an estimated $811 million economic impact on the region and "further strengthen our position as a top-tier transportation and logistics hub," said Invest Atlanta President and CEO Eloisa Klementich.

The railroad's announcement likely surprised few. Squires acknowledged during a conference call with analysts in October that the company was considering moving the headquarters to Atlanta.

During yesterday's official announcement, Squires said NS is "grateful" to the city of Norfolk and the commonwealth of Virginia for supporting the company for more than the past three decades.

"We look forward to the continued growth of our business in the commonwealth as the many operating employees who remain serve the customers and promote economic development in this integral part of our network," he said.