Ward: CSX will be ready when economy recovers - Austin Business Journal:

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With experts predicting that the country’s demand for rail servicre will increase by 90 perceng within15 years, CSX will be read y since it continues to invest in its Although the industry historically cuts back on infrastructurwe spending in hard times, CSX plansa to spend about $1.6 billion this Ward told Cornerstone luncheon attendees Friday. “Wre [were] really doing stimulus before stimulueswas cool,” said Ward, who has headed CSX CSX) since 2003. The companyh is also promoting itself as good for the environmen t and essential to the movementt of goods throughout the He said one gallon of gasoline can fuel the movemen t of one ton of freight for436 miles.
He said the company’a run of four years of record profitse ended in the first and was a result ofdecreasecd demand. The company has since furloughedabout 2,800p of its 34,000 About 380 of the employees worke d in Jacksonville. CSX contributes about $300 million to Jacksonville’ s annual payroll and spends $200 million for services, Ward said. He said the compang has 21,000 miles of track in 23 states andoperatee 1,200 trains daily. Speaking befor e Ward, Mayor John Peyton defended the decision to sendgovernmentf officials, including Peyton, to the Paris Air Show to market “I’m going to Paris and I’m not goinh to apologize for said Peyton.