CSX Transportation stands to gain more than $230 million in annual revenue from nearly $1.4 billion in facility investment made by shippers near the railroad's tracks in 2011.
The Jacksonville, Fla.-based company said 124 customers in 17 states expanded facilities or built new ones along the lines of CSX and more than 240 shortlines and regional railroads. West Virginia topped the list in terms of investment, with $515 million spent by CSX customers last year, followed by North Carolina, $386.2 million, and Florida, $165.6 million.
“Despite ongoing economic uncertainty during 2011, our customers continue to demonstrate strong interest in rail service and CSX in particular,” said Clark Robertson, assistant vice president of regional development. “It is testimony to the underlying value proposition that rail offers.”
Although CSX customers invested more than twice as much on new and expanded facilities in 2010, the amount of business the railroad expected to gain was less than in 2011. CSX then said it expected to gain $216 million in annual revenue through 130 customers’ $3.6 billion investment in 2011.