NORTH CHARLESTON, S.C. — An economic impact study released by a public-private partnership concludes that an intermodal rail and warehousing complex at the Cooper Yard/Macalloy site would create hundreds of permanent jobs from the Lowcountry to the Upstate, as well as generate millions of dollars annually for the State of South Carolina.
The City of North Charleston, CSX Transportation, and Shipyard Creek Associates jointly released a comprehensive economic report by one of the nation’s leading research firms. The Perryman Group, based in Waco, Texas, has extensive experience evaluating major infrastructure projects, including research studies for the U.S. Department of Transportation and the Port of Houston, and has developed complex modeling systems to forecast all aspects of economic activity.
“We knew our commercial rail plan would have a hugely positive economic impact on the region and the state,” said North Charleston Mayor R. Keith Summey.
“At a time when our economy desperately needs the best of what the public and private sectors can offer by working in harmony, this study gives hope to those of us who are worried about South Carolina’s economic future,” Summey added.
The report estimates that during construction and development, the North Charleston rail plan would create $111.9 in additional output and 1,410 jobs. Ongoing annual operations stimulus across the state would translate into $73.4 in additional output and 869 permanent jobs.
The commercial rail plan calls for the construction of an intermodal rail hub and warehousing facilities to be jointly developed by CSX and Shipyard Creek Associates, primarily to serve the new container terminal being constructed on the former Navy base in North Charleston. It would also remove 3.2 miles of CSX rail lines running through the city, build about half a mile of new track, and renovate another half-mile of mostly unused track.