Regional short-line the North Carolina Railroad Co. will put up $60 million in funding for a textile plant in Asheboro, N.C. and an adjacent rail spur between the plant and a Norfolk Southern Railway line.

This is a great example of how a private company’s investment in transportation infrastructure, combined with additional investment in manufacturing, can create jobs and prosperity for the community.  NCRR has demonstrated foresight and a commitment to their vision, betting that these investments will reap benefits not only for themselves but for the region as well.  Short line railways like NCRR are a vital but not very well understood link to the overall logistics system.  We see short line railroads playing an increasing role throughout the US, where these smaller transport services companies are able to use their fixed and rolling infrastructure, entrepreneurial creativity and local market knowledge as part of an economic development system.  We see fewer and fewer short line railroads as some have been swallowed by large national operating firms – and some of those that remain will have increasing value as they play a direct role in investment attraction and market growth.

In this case in North Carolina, leveraging grant monies and working with regional economic development partners will enable NCRR to capitalize on Fibertex’s growth and success in their national and international markets.

 

Article link – American Shipper: NCRR to invest in rail infrastructure, textile facility

By Elizabeth Landrum |Monday, August 28, 2017

North Carolina Railroad Co. (NCRR) plans to invest $60 million by 2021 in a new manufacturing facility and adjacent rail infrastructure in Asheboro, N.C., the regional short-line railway said in a statement.  The project is partially facilitated by the Job Development Investment Grant by the North Carolina Economic Investment Committee. The facility will be built by Fibertex Personal Care, a Danish textile company, as the first plan in the U.S.
In addition to the facility, NCRR will invest $420,000, toward the construction of a new spur track to connect Fibertex to an adjacent Norfolk Southern Railway line, said NCRR. The Norfolk Southern line joins the North Carolina Railroad in High Point, said the rail line. The funds for the rail project are allocated from the company’s economic development initiative NCRR Invests.
“The availability of freight-rail infrastructure and service plays an important role as business and industry consider expanding or locating in North Carolina,” said NCRR President Scott Saylor. “Through NCRR Invests, we work with our economic development partners to increase North Carolina’s competitive advantage in recruiting rail-served businesses to the state. The North Carolina Railroad Company has a long history in economic development and we are proud to partner in this exciting announcement of 145 new jobs in Randolph County.”
The new factory will cover Fibertex’s North and South America markets, Michael Staal Axelsen, the company’s group chief executive officer, said in a press release issued to Progressive Railroading.
“We expect fine growth rates within our niche, and therefore, the factory will need to be operational by the end of 2018.” Staal Axelsen said.

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GLDPartners is an international investment advisory firm that works at and around high-potential and emerging airports, seaports, railports and strategic trade and logistics hubs. GLDPartners assists private and public clients to understand where and how best to position their resources and attract investment, and importantly in many cases acts as delivery partner in revenue growth and infrastructure development. The firm offers a unique interdisciplinary blend of hands-on senior business expertise to support next-generation revenue growth, infrastructure development, project finance and economic development strategy. GLDPartners’ core businesses are: 1) market-based strategies and projects at and around industrial and logistics assets – strategic inland trade hubs, seaports and airports; and 2) supply chain and site location advisory services to domestic and global firms. GLDPartners has offices in the United States, Canada, Mexico and the United Kingdom.