NCRR Invests $600K in Hertford County
Written by Jennifer McLawhorn, Managing Editor
NCRR
RALEIGH, N.C. - The North Carolina Railroad Company (NCRR) announced it will invest up to $600,000 for US Forged Rings Inc.'s new manufacturing facility.
US Forged Rings focuses on large-scale metal fabrication for the energy industry and will use the rail line to receive and distribute 1,825 cars annually. According to the release, NCRR says it plans to invest $875 million for the three-phase project along with the creation of 625 jobs, averaging an annual wage of $80,500. Its investments come through NCRR Invests, in which NCRR uses private revenue to fund rail projects in North Carolina. The project will reportedly connect the site to freight rail via a new spur. During construction, crews will complete engineering, drainage, and signal work.
NCRR President and CEO Carl Warren said, “This investment is about more than track. We’re building opportunity in Hertford County, we’re strengthening North Carolina’s manufacturing footprint and we’re making sure this state is ready for long-term growth driven by freight rail.”
