Union Pacific Commits $1 Billion to Nebraska Projects
The railroad plans to invest another $1 billion in improvement projects statewide during the next few years.
Nebraska Gov. Dave Heineman and Union Pacific's chairman and CEO, Jim Young, jointly announce the railroad company's plan to invest $1 billion in Nebraska in the next several years as part of its capital investment programs, with projects planned across the state. About 8,000 of UP's total workforce of approximately 45,000 people are in Nebraska, and they represent a payroll of nearly $1 billion, according to the company.
The projects include expanded capacity at UP's North Platte rail yard, with $70 million spent on additional track and technology upgrades; $220 million in new rail and other improvements to UP's main line across the state, on which about 125 trains per day move, making it the busiest freight rail transportation corridor in the United States; and $206 million on new change buildings, a bridge over the Elkhorn River, new technology, and track between Fremont and Missouri Valley.
"I'm thrilled at the news of Union Pacific's expansion," Heineman said. "Their extraordinary investment in our state is a great example of how Nebraska is moving forward as a state with one of the lowest foreclosure rates, the second-lowest unemployment rate, and a destination for companies looking to expand and create jobs."
"We're proud that Union Pacific has been part of Nebraska for 150 years," Young added. "Today's announcement of our $1 billion infrastructure investment in the state renews our commitment to helping stimulate business and job growth in Nebraska."