North Carolina Construction News staff writer
TTX Company, a provider of railcars and related freight car management services to the North American rail industry, is moving its headquarters to Charlotte. The company will invest $14.5 million in Mecklenburg County.
Currently headquartered in Chicago, the railcar pooling company was founded as Trailer Train in 1955 by the Pennsylvania Railroad. The fleet of over 170,000 railcars serves North America’s railroads and the world’s freight needs. TTX also has a complete engineering and design team to care for its large and varied fleet with maintenance operations in terminals across the United States.
“We believe Charlotte presents a unique opportunity for TTX that provides for strategic partnerships to strengthen our business,” TTX president and chief executive officer Thomas F. Wells said in a statement. “Our company is positioned to provide strong rail and freight car management services from the Charlotte metro area – as such, we are excited to partner with local innovators, business leaders, and academic institutions to drive value for the North American rail industry and the local economy.
“We also look forward to welcoming new local talent to join our existing workforce to continue to drive our long-term success.”
TTX’s project in North Carolina will receive a job development investment grant (JDIG) and over the 12-year term, the project is estimated to grow the state’s economy by $855 million.
“North Carolina is one of the best business locations in the United States, and we’re pleased that a company of TTX’s caliber has recognized our strengths,” said N.C. Representative Mary Belk. “Our community welcomes TTX with open arms and all of us in Mecklenburg County and the City of Charlotte will work together to support this company’s move and continuing growth in our state.”