North Carolina Railroad Company Launches $10 Million Impact Fund And Disaster Recovery Program

2024-10-08 02:00:57

(MENAFN- PR Newswire) RALEIGH, N.C., Oct. 8, 2024 /PRNewswire/ --
In response to Hurricane Helene's destruction and devastation in Western North Carolina, the North Carolina Railroad Company (NCRR) today announced the creation of the Back-on-Track Disaster Recovery Program, a disaster and recovery relief grant program for North Carolina communities. NCRR will provide $10 million to the new impact fund and plans to distribute financial assistance based on a needs assessment.

"Today, relief efforts are paramount. Tomorrow, we will be there to help Western North Carolina rebuild," said Carl Warren, NCRR President & CEO. "We believe supporting commerce and fixing critical infrastructure are the quickest ways to help communities recover and develop after a disaster. This program allows us to help our neighbors rebuild and serves as a fund to support North Carolina communities facing similar challenges in the future. We're here to help for the long haul."

The Back-on-Track Disaster Recovery Program will provide funding within FEMA-designated disaster areas to Class II and Class III short lines, local rail-served industries in need of track infrastructure repair funding, and local Economic Development Organization (EDOs) in need of operations support. Funding will be allocated for infrastructure repair and/or wage support for Class II and Class III rail lines, industry support in affected areas for site recovery and operations assistance, and relief to non-profit Economic Development Organizations (EDOs) in affected regions.

This new program is the latest example of the company's sustained commitment to elevating local economies across North Carolina. The Back-on-Track Disaster Recovery Program is an investment in the long-term success of communities impacted by natural disasters and tragedies. Grant applicants can apply via the NCRR website at Applications will close on Nov. 15, 2024.

About the North Carolina Railroad Company

The North Carolina Railroad Company is the one private railroad company that has been driving economic growth for North Carolina for over 175 years. The Company manages 317 miles of rail corridor, transforming its trusted expertise and unique assets into economic advantages. The Company's mission is to focus on our rail & safety expertise, assets, and advantageous corridor to provide dynamic services and best-in-class solutions. Our vision is a railroad company promoting and facilitating opportunities leading to economic gains for North Carolina.

SOURCE North Carolina Railroad Company

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