With an eye to growing railway shipping throughout southern Michigan and Indiana, rail company owners plan to invest millions in new equipment, and retain 188 jobs. Organizers say the venture will spur economic growth in Michigan through the investment of $6 million in infrastructure the first year and $20 million in the first three years.
According to excerpts from the story:
The new Michigan Central will operate over freight rail line segments between Ypsilanti and Kalamazoo; between Jackson and Lansing; and between Grand Rapids and Elkhart, Ind. The Michigan Central also will acquire Norfolk Southern's trackage rights on the Amtrak-owned line between Kalamazoo and the Michigan/Indiana state line.
A major part of the transaction will be the investment of more than $6 million in infrastructure in the first year, and more than $20 million in the first three years of Michigan Central operation.
"Our goal is to work with the state of Michigan, communities, Amtrak, and most importantly our freight customers to make this a growing railroad that is even more a part of the Michigan economy."
Read the complete story here.
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