One of North America’s largest rail fleets plans to move HQ to Charlotte
A Chicago-based company that owns and maintains thousands of rail cars will move its headquarters to Charlotte, creating 150 jobs, state and local officials announced Tuesday.
TTX will invest $14.5 million in the headquarters move, according to Gov. Roy Cooper’s office. TTX still is finalizing terms for the project location, county spokesperson Tammy Thompson told The Charlotte Observer. The company plans to release more specifics when leasing details are complete.
The average annual wage for the new positions will be $162,000, more than double the Mecklenburg County average, Cooper’s office said in a news release. Positions will range from finance, information technology, human resources and business and product development, Cooper’s office said.
The announcement comes the same day at North Carolina was named by CNBC as the No. 1 state for business. The annual ranking looks at major economic development deals and the ability to attract and retain workers, among other factors.
“Charlotte’s stellar reputation as a place to do business makes TTX’s decision to move its headquarters to the Queen City no surprise,” Cooper said in a statement.
More about the railcar company
TTX is a rail car pooling company, according to its website. It was founded in 1955 by the Pennsylvania Railroad. The company is owned by nine North American railroads, including Norfolk Southern and CSX. Pooling essentially means the railroads share the rail cars. TTX owns and maintains over 165,000 rail cars.
The TTX rail cars carry everything from raw materials like lumber and steel to automobiles to containers that come off large ships that sail in and out of ports.
TTX spends hundreds of millions each year maintaining their rail cars, according to the company’s website.
This story was originally published July 11, 2023 at 3:25 PM.
