This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

National Gateway Completes Phase One Clearance, Applauds Partners

JACKSONVILLE, Fla., Sept. 5, 2013 /PRNewswire-USNewswire/ -- The National Gateway coalition today announced the on-time, on-budget completion of its first phase, which clears the way for double-stack intermodal rail service between CSX's existing terminal in Chambersburg, Pa. and its state-of-the-art hub facility in Northwest Ohio.

(Photo: http://photos.prnewswire.com/prnh/20130905/DC75146)

The National Gateway, an award-winning $850 million public private partnership to create a highly efficient and environmentally-friendly, double-stack cleared rail corridor between the Mid-Atlantic and Midwest, is made possible through a combination of federal and state funds and CSX investment.

"Today, we celebrate the efforts of federal and state officials in achieving this milestone, which means more jobs, a more competitive America, and a more environmentally friendly way to move freight," said Michael J. Ward, CSX chairman, president and chief executive officer. "This is great news for our nation's transportation infrastructure, our customers and the communities we serve, and wouldn't be possible without the major investment of time and resources by our federal and state partners.  While this is a significant milestone, our work is not done.  Working with our public sector partners, we need to finish the job and complete double-stack clearances between Chambersburg and the Ports of Baltimore and Virginia."

Since its inception, the National Gateway generated support from governors and scores of public officials across six states, including more than three dozen members of Congress, three port authorities and dozens of global shippers, ocean carriers, business organizations and environmental groups.

Public funding for Phase One was supported by a federal TIGER (Transportation Investment Generating Economic Recovery) grant secured by the State of Ohio on behalf of the coalition, and administered by the Eastern Federal Lands Highway Division of the Federal Highway Administration.

As one of the nation's largest transportation projects, over a 30 year period, the National Gateway will create more than 50,000 jobs and deliver a host of benefits including reduced fuel consumption, lower emissions, better safety, lower highway maintenance costs and reduced shipping costs. The National Gateway is driving economic growth in areas like Wood County, Ohio, where the recently opened Northwest Ohio Intermodal Terminal employs nearly 300 full-time employees and is handling hundreds of thousands of containers per year.

"The National Gateway will stimulate economic activity and boost the United States' competitive edge in the global economy while employing the people who will prepare us to meet future challenges," added Ward. "CSX is proud to support this significant infrastructure investment that will help modernize our transportation system and spur growth."

The National Gateway is currently focused on the project's Phase Two, which will double-stack clear the CSX corridor between Chambersburg, Pa. and mid-Atlantic ports.

To learn more about the National Gateway, visit www.nationalgateway.org.

Endorsements of the National Gateway

Jim Filter, SVP of Intermodal Commercial Management, Schneider National

  • "The completion of these clearances improves Schneider Intermodal's customer experience while also providing more modal conversion opportunities for shippers. The National Gateway helps deliver our truck-like service commitment by increasing reliability and providing faster intermodal transit."

Barry Schoch, Secretary of Transportation, Commonwealth of Pennsylvania

  • "The National Gateway is a great example of the benefits that public and private organizations can deliver together. As an engineer, I'm proud of the role played by the Commonwealth of Pennsylvania and the many other public partners in this engineering feat that will drive economic growth and development for years to come."

Matthew Dietrich, executive director of the Ohio Rail Development Commission (ORDC)

  • "Thanks to the National Gateway project, the most state-of-the art intermodal yard is now located in North Baltimore, Ohio. The intermodal freight connections provided by the National Gateway put Ohio at the hub of moving goods in North America. ORDC is very proud to be a part of this vast public-private partnership that is boosting our nation's economic development potential."

Congressman Bill Shuster (R-PA), Chairman of the U.S. House Committee on Transportation and Infrastructure

  • "The efficient and effective transportation of goods is essential to ensuring America remains strong in an increasingly competitive global marketplace. Initiatives like the National Gateway will help strengthen Pennsylvania's and the nation's economy by improving the flow of commerce and creating jobs."

 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs