Intermodal and economic development
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The document discusses the benefits of a new proposed intermodal facility in Roanoke, Virginia. It would transfer containerized freight between trucks and railcars, reducing transportation costs and times while increasing efficiency. The facility could create a dozen direct jobs and millions in annual economic activity. It would also generate tens of millions in tax revenue. By positioning Roanoke on major rail corridors, the facility has the potential to bring hundreds of jobs and half a billion in increased annual economic output to the region.
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Intermodal and economic development
- 1. Click to edit Click to edit subtitle What the new intermodal facility means for economic development.
- 7. Top 15 Destinations of Dry Van Traffic Originating in Roanoke BEA Source: Transearch 2007 Data based on hauls greater than 300 miles only Destination Lexington, KY Raleigh, NC Charlotte, NC Norfolk, VA Hickory, NC New York, NY Philadelphia, PA Pittsburgh, PA Fayetteville, NC Knoxville, TN Greenville, NC Boston, MA Wilmington, NC Louisville, KY Savannah, GA
- 8. Top 15 Origins of Dry Van Traffic Terminating in Roanoke BEA Source: Transearch 2007 Data based on hauls greater than 300 miles only Origin Charlotte, NC Norfolk, VA Raleigh, NC Lexington, KY New York, NY Cleveland, OH Philadelphia, PA Hickory, NC Louisville, KY Pittsburgh, PA Greenville, NC Atlanta, GA Cincinnati, OH Fayetteville, NC Boston, MA
- 9. Outbound East Traffic (Norfolk, VA) Other includes Military, Paper, Misc. Chemicals, Vehicles, Food Products and Brick
- 10. Outbound South Traffic (AL, AR, FL, GA, LA, MS, NC, SC, TN, TX) Other includes Plastics, Fertilizer, Misc. Chemicals, Feed and Feed Products, Petroleum/Environmental, Kaolin, Vehicles, Military, Brick, Scrap Metal, Flour
- 15. Click to edit Click to edit subtitle What the new intermodal facility means for economic development
Notes de l'éditeur
- Fuel is becoming higher thus, Rail will be a cheaper means of shipping for trailer-sized containers. Congestion among the highways, Rail eliminates it. No traffic delays or round-about routes. Can move more freight at once and reach destinations faster than traditional shipping methods. Freight rail combined with grade separation helps manage traffic congestion and provides improved reliability. An intermodal double-stack train can remove as many as 200 to 300 long haul trucks from the nation’s major interstate highways Roanoke region relies more heavily on trucking than does the nation on average. Modal Share by Weight U.S. Roanoke Region Trucking 69% 80% 80 percent of region’s freight tonnage moves by truck. More than 90 percent of region’s freight value moves by truck. The value of freight shipments to and from the Roanoke region is projected to increase 170 percent from 2004 to 2025. Economic development requires reliable delivery times. Much faster delivery, resulting in faster turnover, less carrying cost/holding cost. Intermodal is more reliable than single mode shipping, it is also more efficient, safer, and more environmentally friendly.
- Will employ a dozen people and generate $3.5-$5.3 million in annual economic activity. What is this? $18 million to $71 million in taxes over a nine-county, five-city area from Lynchburg to Radford, from Franklin County to Monroe County, WV. That’s a big spread. Annually? Overall Business competition. Draw big business here due to fast delivery and low cost of fuel. Located on the Crescent and Heartland Corridor. (81 to 64) Competition requires integrated transportation system Helps maximize productivity Increases customer service
- The Heartland Corridor connects to the Midwest markets through Columbus, OH and Chicago. The Heartland Corridor will connect the Port of Virginia to these markets to support the international demand for commodities coming from the Midwest, but also support the demand for international goods in the Midwest. Smaller domestic companies may try to capitalize on these potential markets and should be considered as prospects for new business development. The Roanoke Region can take advantage of its location because businesses will be closer to Midwest markets and the Port of Virginia international markets.
- The intermodal facility is located in a business park that houses more than 140 companies including 62 from the Fortune 500, Global 500, and Forbes List of Top Private Companies. These firms have since invested more than $5 billion to build $24.4 million square feet and create 24,000 full-time jobs.
- VIP has spurred nearly $600 million in private sector capital investments and attracted more than 26 major companies within a 30 mile radius. It is estimated that 95% of the business generated by the VIP is new business for the Port of Virginia (that is, this freight traffic has been captured from other ports). VIP has also generated more than 7,000 new jobs. The Virginia Port Authority determined that one way to attract this business was to build an intermodal facility close to these areas that could be linked by rail to the port area. The VIP site has easy access to I-66, I-81, and ADHS Corridor H.
- BIG SPREAD ON JOBS WHAT IS DIFFERENCE BETWEEN THIS ECONOMIC OUTPUT NUMBER AND THE NUMBER IN SLIDE 4?