February 13, 2024
North Carolina Railroad Company Fuels Growth With $100,000 Investment in Charlotte Manufacturing Expansion

 The North Carolina Railroad Company (NCRR) was recently named one of several partners involved in Siemens Energy’s project to expand its manufacturing facility in Charlotte, North Carolina. The total investment in the facility will amount to $150 million and bring an additional 475 jobs to Mecklenburg County.

Through the North Carolina Railroad Company’s economic development initiative NCRR Invests, the company is investing $100,000 to assist with improvements and upgrades for the existing industry track. In addition to nearly 500 well-paying jobs, this expansion will produce over 50 railcars per year at build-out and contribute to the growth momentum within North Carolina’s energy and electric vehicle (EV) industries.

“We are thrilled to partner with Siemens Energy on this transformative project,” said Carl Warren, President and CEO of the North Carolina Railroad Company. “This investment aligns with our commitment to foster economic growth and innovation in North Carolina. We look forward to the positive impact it will have on our state’s economy and communities for generations to come.”

Siemens Energy is headquartered in Munich, Germany, operates in more than 90 countries, and employs over 95,000 people worldwide. It is a global leader in energy technology, specializing in products and services for electricity generation, transmission, and distribution. Additionally, Siemens Energy offers solutions for industrial decarbonization and integrating renewable energy sources.

Siemens Energy’s 475 new jobs will pay an estimated average annual wage of over $78,000; additionally, the project will contribute to over 1,500 full-time jobs retained across the company’s existing North Carolina facilities.

About the North Carolina Railroad Company

The North Carolina Railroad Company is a private corporation whose voting stock is owned by the State of North Carolina. The Company manages the use of 317 miles of track and property stretching from Charlotte to the Port of Morehead City. The Company’s mission is to benefit North Carolina by aggressively leveraging the unique strengths and capabilities of the North Carolina Railroad Company. Our vision is a modernized railroad that meets the needs of the future, expanding North Carolina’s competitive advantage.

About NCRR Invests

NCRR Invests provides assistance to companies that require the state’s freight rail opportunities and that create jobs by locating or expanding their business in North Carolina. The goal of NCRR Invests is to drive job creation and economic growth.

The North Carolina Railroad: Collaborating with Communities and Spurring Economic Growth

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