Gov. Dave Heineman on January 20 joined Union Pacific Chairman and CEO Jim Young in announcing the company’s planned $1 billion investment in Nebraska over the next several years as part of its capital investment programs. The $1 billion will be spent on projects across the state, including the following:

• Union Pacific is expanding capacity at its North Platte rail yard, the largest railroad classification yard in the world, with a $70 million investment for better throughput by adding track and technology upgrades.
• About 125 trains a day transport goods through Nebraska on Union Pacific’s main line – making it the busiest freight rail transportation corridor in the United States. An investment of approximately $220 million in new rail, ties and other work will increase capacity and fluidity on this busy corridor.
• Between Fremont and Missouri Valley, Union Pacific plans to spend $206 million on new crew change buildings, a bridge over the Elkhorn River, new technology and track. This is a multiple-year project to move trains more efficiently and improve service.

“I’m thrilled at the news of Union Pacific’s expansion,” said Gov. Dave Heineman. “Their extraordinary investment in our state is a great example of how Nebraska is moving forward as a state with one of the lowest foreclosure rates, the second-lowest unemployment rate and a destination for companies looking to expand and create jobs.”

“We’re proud that Union Pacific has been part of Nebraska for 150 years. Today’s announcement of our $1 billion infrastructure investment in the state renews our commitment to helping stimulate business and job growth in Nebraska. Governor Heineman, working with the Unicameral, is committed to providing a business environment that encourages investments in the state, making Nebraska more competitive on national and global scales,” said Young.

Union Pacific employs approximately 45,000 people. About 8,000 of those employees are in Nebraska, creating a payroll of nearly $1 billion. Union Pacific operates 1,068 miles of track in the state.

According to the U.S. Department of Commerce economic models, every dollar invested in freight railroads yields $3 in economic output and every job in day-to-day operations sustains another 4.5 jobs elsewhere in the economy. Using this model, Union Pacific’s $1 billion in Nebraska can yield $3 billion in economic output.

Image Courtesy of   http://www.flickr.com/photos/alexandramatzke/

Share This

• 
• 
• 
• 
• 
• 
• 
• 
• 
• 
• 

About the author

TP Newswire
To suggest a news story or press release please send an email to newsroom@toonaripost.com.