Revealed on July 11, 2023
CHARLOTTE, N.C. (July 11, 2023) – TTX, a railcar pooling firm owned by the nation’s main rail carriers, has chosen Charlotte for its new headquarters location. The corporate will make investments not less than $13.8 million and create 150 new jobs within the central enterprise district.
“We consider Charlotte presents a novel alternative for TTX that gives for strategic partnerships to strengthen our enterprise,” mentioned Thomas F. Wells, president and chief government officer for TTX Firm. “Our firm is positioned to offer sturdy rail and freight automobile administration companies from the Charlotte metro space – as such, we’re excited to companion with native innovators, enterprise leaders and tutorial establishments to drive worth for the North American rail business and the native financial system. We additionally look ahead to welcoming new native expertise to affix our current workforce to proceed to drive our long-term success.”
TTX is a railcar pooling firm based as Trailer Prepare in 1955 by the Pennsylvania Railroad. TTX’s right-sized, low price, dependable fleet of over 170,000 railcars serves North America’s railroads and the world’s freight wants. TTX helps railroads meet their prospects’ wants by offering well-maintained railcars in an environment friendly, pooled atmosphere, investing $6 billion in further railcars, over the previous 10 years alone. TTX has a whole engineering and design crew to take care of its massive and various fleet with upkeep operations in terminals throughout the community. Along with this very important position as a railcar pool operator, TTX invests in and operates subtle business expertise options, and these options enhance the standard and timeliness of economic and working info for managing its enterprise. Additional, TTX is a acknowledged innovator within the technical design and engineering of railcar parts.
“Designated because the primary state within the nation do to enterprise for the second yr in a row, our high quality of life, infrastructure and proficient, well-educated workforce lets corporations know they may discover success in North Carolina,” mentioned Governor Cooper. “Charlotte’s stellar popularity as a spot to do enterprise makes TTX’s determination to maneuver its headquarters to the Queen Metropolis no shock.”
“We’re happy to welcome our latest headquarters to Charlotte,” mentioned Mayor Vi Lyles. “We’re grateful that TTX is investing in Charlotte, and we recognize their dedication to security and sustainability. Firms like TTX are additional proof that Charlotte’s native financial system is robust and getting stronger by the day.”
TTX’s distinctive mannequin, heritage and mission encourage them to plan a long time forward, giving them a long-term perspective that guides their strategy to environmental, social and governance elements. Security, service, and sustainability are a part of their DNA. Rail is by far probably the most environment friendly strategy to transfer freight over land. TTX’s railcar swimming pools and administration of different business swimming pools assist rail transfer extra effectively by lowering the full variety of railcars wanted, minimizing empty railcar miles and making provide chains extra sustainable. The supplies program emphasizes reuse and reconditioning of components and uncooked supplies, serving to to mitigate the environmental footprint.
“TTX’s relocation determination additional solidifies Mecklenburg County’s place as a significant logistics middle. We proceed to reach attracting companies like TTX due to our neighborhood belongings and our massive pool of highly-qualified employees. We welcome their financial funding in addition to the 150 new high-paying jobs they bring about to the realm and look ahead to a partnership that advantages all the neighborhood,” said Mecklenburg Board of County Commissioners Chair George Dunlap.
This venture was a collaborative effort between the Metropolis of Charlotte, Mecklenburg County, the North Carolina Division of Commerce, the Financial Growth Partnership of North Carolina, North Carolina Common Meeting, North Carolina Neighborhood School System, Charlotte Heart Metropolis Companions, and the Charlotte Regional Enterprise Alliance.
Through the previous twelve months, the Metropolis of Charlotte and Mecklenburg County have collaborated on financial improvement tasks together with relocations and expansions of the ACC, Resolve Industrial Movement Group, Albemarle Company, and alpitronics Americas LLC. With right now’s announcement from TTX, the town and county have helped deliver greater than $312 million in capital funding and 800 new jobs.