Helping To Keep The Economy On Track (NAPSA)—While many eco- nomic indicators are bleak, there is a bright spot in the American economy. It is found in a part of the transportation sector that has been serving this country for centuries—freight railroads. As lawmakersdiscuss the need for increased spending on infrastructure, it is estimated that in 2011 the nation’s freight railroads will hire 15,000 workersall across the country and spend a record $12 billion in capital expenditures on the national rail network— which serves passengers and freight. Investing In America And this is nothing new. According to the Association of American Railroads (AAR), each year, the freight rail industry invests roughly $20 billion in private capital to build, maintain and grow the national rail network—that’s in addition to the record $12 billion the industry plans to spend this year. Freight rail companies invest an average of 17 percent of their revenues in capital projects and expansion, historically investing four times as muchprivate capital into infrastructures as other American industrial sectors. “The president has issued a clear call to American businesses, urging them to get off the sidelines and get back in the game by investing capital and hiring,” said AARpresident and CEO Edward R. Hamberger. “Freight railroads have been in the gamefor the past 30 years, investing more than $480 billion to build and maintain America’s freight rail network with private capital, and supporting jobsall across the country.” Railroad hiring at the end of 2010 was up 5.2 percent over the Freight railroads invest roughly $20 billion in private capital each year to build, maintain and grow the national rail network. This year, they will spend an addi- tional $12 billion. year before—and the freight railroad industry is positioned to hire more workers in the coming years. Added Hamberger, “These investments have a direct impact on the economy by providing the safest, most efficient, reliable and affordable freight rail network in the world.” Keeping the Economy Moving America’s freight railroads generate $265 billion in total annual U.S. economic activity and move one-third of all U.S. exports, all while offering the lowest rail rates in the world. In addition, the industry employs more than 175,000 workers in well-paying jobs—each of which indirectly creates another 4.5 jobs across the country. It is estimated that freight rail also supports an additional 1.2 million jobs across fields such as manufacturing andretail. “At a time when manyindustries are cutting back and businesses aren’t hiring, freight railis investing billions of its own capital and hiring American workers,” said Hamberger. To learn more, visit www.freight railworks.org or www.aar.org.
