Norfolk Southern Corporation (NYSE: NSC) today announced plans to relocate its headquarters to Atlanta.
“Alignment, collaboration, and accountability are the hallmarks of Norfolk Southern’s plan to transform this company and its culture. Our new headquarters in Atlanta advances these key elements of success,” proclaimed Jim Squires, chairman, president and chief executive officer, addressing employees this morning. “Our potential has always been great and now is greater still, as we bring together all of our headquarters functions into a single, integrated team.”
“Norfolk Southern is grateful to the city of Norfolk and the commonwealth of Virginia for their support of our company over the last three plus decades,” Squires continued. “We look forward to the continued growth of our business in the commonwealth as the many operating employees who remain serve the customers and promote economic development in this integral part of our network.”
“As a major hub for both transportation and innovation, Georgia is a fitting home for Norfolk Southern’s new headquarters,” said Georgia Gov. Nathan Deal. “As the No. 1 state for business six years in a row, Georgia has become a preferred location for industry leaders such as Norfolk Southern who seek an expansive infrastructure network, a culture of collaboration, and ready-to-work communities. This announcement also reinforces Georgia’s distinction as the Southeast’s gateway to global commerce. We appreciate Norfolk Southern’s significant investment in Fulton County and look forward to celebrating the company’s future growth and continued success.”
Atlanta Mayor Keisha Lance Bottoms added, “With a shared history dating back to 1846, we are proud Norfolk Southern now calls Atlanta home. This relocation was made possible, in part, by the passing of the Gulch deal and is a reminder that great things happen when our public and private sectors work together. Norfolk Southern will be a great addition to our city, and I look forward to partnering with them as we work to build One Atlanta.”
To create its new headquarters, Norfolk Southern is in advanced discussions to purchase a site from Cousins Properties at 650 West Peachtree St. NW, in the heart of Midtown Atlanta’s growing intersection of corporate, technological, and academic power. In addition, Norfolk Southern intends to engage Cousins Properties to manage the development of its new headquarters. Details of this engagement are expected during the first quarter of 2019.
Progress on Norfolk Southern’s move to Atlanta has already commenced and will span the next several years as the new headquarters is constructed.
Squires concluded, “Norfolk Southern values Atlanta’s vitality and looks forward to contributing more of our own energy to its business, social, and community environments.”
About Norfolk Southern
Norfolk Southern Corporation (NYSE: NSC) is one of the nation’s premier transportation companies. Its Norfolk Southern Railway Company subsidiary operates approximately 19,500 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal, automotive, and industrial products.
Cousins Properties (NYSE: CUZ) is a fully integrated, self-administered and self-managed real estate investment trust (REIT) based in Atlanta, Georgia. Founded in 1958 by Tom Cousins, the Company has extensive expertise in development, acquisition, leasing and property management of Class A office towers.
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