Norfolk Southern reports more than $4.3B in industrial development activity in 2024

In 2024, Norfolk Southern Corporation (NYSE: NSC) customers advanced 149 industrial development projects, representing $4.3 billion in investment for new or expanded facilities on Norfolk Southern or a short line partner’s lines. Of these, 65 projects reached completion and began shipping with Norfolk Southern in 2024, representing $1.2 billion in investment and 1,700 jobs.

These projects are a subset of an industrial development pipeline with more than 450 projects that have been identified by customers for future growth. The active pipeline is estimated to generate more than 150,000 incremental carloads for Norfolk Southern and more than 9,000 new jobs and $9 billion in customer investment for regional economies over the next few years.

“The active pipeline of $9 billion in customer investments along our network reflects the value businesses place in rail as a cornerstone of their supply chains,” said Norfolk Southern 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 Norfolk Southern’s rail-served properties will benefit from accelerated speed-to-market along with sustainable and reliable transportation solutions.”

In 2024, Norfolk Southern saw a rise in industrial development activity across many sectors, including:

• Steel and metals production
• Plastics
• Renewable fuels
• Component manufacturing for power generation
• Cold storage, food processing, and pet food production

Over the last year, Norfolk Southern sharpened its portfolio of rail-served industrial sites. Three of Norfolk Southern’s PRIME Sites received the Readiness Evaluation for Development and Investment in 2024. The REDI Sites designation means sites have undergone rigorous assessment by the world’s foremost group of site selection consultants who make up the Site Selectors Guild.

“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, GVP of Industrial Development at Norfolk Southern. “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.”

Learn more about Norfolk Southern PRIME Sites which have received the independent REDI Sites designation here, and search through Norfolk Southern’s portfolio of 700 rail-served properties and 300 transload facilities on its newly optimized, customizable search platform, NSites.

Norfolk Southern also advanced key real estate initiatives to support freight growth and customer expansions in 2024:

• Property Acquisitions: Acquired 523.7 acres across 14 states, representing a $45.6 million investment to improve network fluidity, enhance capacity, and promote future development opportunities.
• Property Sales: Sold 377 acres of property for rail integrated solution projects such as warehouse development and transload facilities, as well as carbon sequestration initiatives.