Norfolk Southern Corporation has reported significant industrial development activity across its rail network for 2024, with customers investing more than USD 4.3 billion in new and expanded facilities. A total of 149 projects were advanced during the year, including 65 that became operational, contributing USD 1.2 billion in investments and creating 1,700 jobs.
The projects represent a portion of Norfolk Southern’s broader industrial development pipeline, which encompasses over 450 identified opportunities. This active pipeline is anticipated to generate more than 150,000 additional carloads, 9,000 new jobs, and USD 9 billion in customer investments in the coming years, significantly benefiting regional economies.
“The USD 9 billion in customer investments planned along our network underscores the value of rail as a vital component of supply chains,” said Ed Elkins, Norfolk Southern’s Executive Vice President and Chief Marketing Officer. “As we look ahead to 2025, we are strengthening our portfolio of development-ready sites to ensure businesses gain accelerated market access and benefit from sustainable, reliable transportation solutions.”
In 2024, Norfolk Southern recorded industrial development activity in various sectors, including:
- Steel and metals production
- Plastics manufacturing
- Renewable fuels
- Power generation component manufacturing
- Cold storage, food processing, and pet food production
Norfolk Southern continued to enhance its portfolio of rail-served industrial sites last year. Three of its PRIME Sites earned the Readiness Evaluation for Development and Investment (REDI) designation in 2024, a certification by the Site Selectors Guild. This independent assessment identifies sites optimized for industrial development, emphasizing rail connectivity and logistical efficiency.
“Receiving the REDI designation highlights our commitment to supporting businesses that rely on rail to streamline their supply chains,” said Craig Hudson, Group Vice President of Industrial Development at Norfolk Southern. “By investing in development-ready sites, we are empowering companies to make strategic, informed decisions while strengthening the economic resilience of the communities we serve.”
Norfolk Southern real estate initiatives
Norfolk Southern also progressed several real estate initiatives in 2024 to support freight growth and customer expansion:
- Property Acquisitions: The company acquired 523.7 acres across 14 states, investing USD 45.6 million to enhance network fluidity, expand capacity, and support future development opportunities.
- Property Sales: Norfolk Southern sold 377 acres for rail-integrated projects, including warehouse development, transload facilities, and carbon sequestration initiatives.
Share on:
