In 2024, Norfolk Southern customers advanced 149 industrial development projects, representing $4.3 billion in investment for new or expanded facilities on NS or a connecting Class II or III. Of these, 65 projects were completed and began shipping with the Class I in 2024, representing $1.2 billion in investment and 1,700 jobs.
Industrial development activity in 2024 occurred in many sectors, including steel and metals production, plastics, renewable fuels, component manufacturing for power generation, cold storage, food processing and pet food production. The 149 projects advanced in 2024 “are a subset of an industrial development pipeline with more than 450 projects that have been identified by customers for future growth,” NS said.
This “active pipeline” of $9 billion in customer investments on NS lines is estimated to generate more than 150,000 incremental carloads and more than 9,000 new jobs and $9 billion in customer investment for regional economies over the next few years. The pipeline “reflects the value businesses place in rail as a cornerstone of their supply chains,” said NS Executive Vice President and Chief Marketing Officer Ed Elkins. “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 our rail-served properties will benefit from accelerated speed-to-market along with sustainable and reliable transportation solutions.”
In 2024, NS “sharpened” its portfolio of rail-served industrial sites. Three of the railroad’s PRIME Sites received a Readiness Evaluation for Development and Investment (REDI) Sites designation, which means they have undergone “rigorous assessment by the world’s foremost group of site selection consultants who make up the Site Selectors Guild.” NS’s portfolio of 700 rail-served properties and 300 transload facilities are on its newly optimized, customizable search platform, NSites.
“These designations underscore Norfolk Southern’s dedication to making site selection easier for companies that rely on rail to meet their supply chain needs,” said Craig Hudson, Group Vice President of Industrial Development. “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.”
NS also advanced real estate initiatives to support freight growth and customer expansions in 2024. The company acquired 523.7 acres across 14 states, representing a $45.6 million investment to improve network fluidity, enhance capacity and promote future development opportunities. As well, it sold 377 acres of property for rail integrated solution projects such as warehouse development and transload facilities, as well as carbon sequestration initiatives.
