Wednesday, February 17, 2010

CSX congratulates National Gateway Coalition on receiving TIGER funds

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CSX congratulates National Gateway Coalition on receiving TIGER funds | Railway Track & Structures

CSX congratulated Ohio Governor Ted Strickland, Maryland Governor Martin O'Malley, Pennsylvania Governor Ed Rendell, Virginia Governor Bob McDonnell, West Virginia Governor Joe Manchin and the National Gateway coalition on the award of $98 million in Transportation Investment Generating Economic Recovery (TIGER) grant money. The funds will go immediately to construction projects that enhance the use of fuel-efficient and environmentally-friendly freight rail.

"The entire National Gateway coalition has shown extraordinary vision, dedication and commitment," said Michael Ward, chairman, president, and chief executive officer of CSX. "Supporting this investment creates jobs now and improves America's transportation system and competitive advantage over the long-haul."

By creating a more efficient double-stack cleared rail corridor between East Coast sea ports and consumption centers and Midwest distribution centers, the National Gateway will yield an estimated $22 in public benefits for every dollar of public money invested. This public-private partnership will create greater capacity for goods moving in and out of the Midwest, reducing transit times between coastal ports and major population centers by 24 to 48 hours; reduce highway congestion and transportation emissions; and create over 50,000 jobs.

The National Gateway is supported by a broad coalition that includes governors and regional officials across six states, more than three dozen members of Congress, three port authorities, and a large number of global shippers, ocean carriers, business organizations and environmental groups.

The TIGER Discretionary Grant program is part of the American Recovery and Reinvestment Act. The federal funds will help complete the $842 million project, to which sponsoring states have pledged $189 million and CSX has contributed $395 million.

"The entire National Gateway coalition has shown extraordinary vision, dedication and commitment," said Michael Ward, chairman, president, and chief executive officer of CSX. "Supporting this investment creates jobs now and improves America's transportation system and competitive advantage over the long-haul."

By creating a more efficient double-stack cleared rail corridor between East Coast sea ports and consumption centers and Midwest distribution centers, the National Gateway will yield an estimated $22 in public benefits for every dollar of public money invested. This public-private partnership will create greater capacity for goods moving in and out of the Midwest, reducing transit times between coastal ports and major population centers by 24 to 48 hours; reduce highway congestion and transportation emissions; and create over 50,000 jobs.

The National Gateway is supported by a broad coalition that includes governors and regional officials across six states, more than three dozen members of Congress, three port authorities, and a large number of global shippers, ocean carriers, business organizations and environmental groups.

The TIGER Discretionary Grant program is part of the American Recovery and Reinvestment Act. The federal funds will help complete the $842 million project, to which sponsoring states have pledged $189 million and CSX has contributed $395 million.

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