TTX Company, a major provider of railcars and related freight car management services to the North American rail industry, will move its headquarters to Charlotte, creating 150 jobs, and investing $14.5 million.
“Designated as the number one state in the nation to do business for the second year in a row, our quality of life, infrastructure and talented, well-educated workforce lets companies know they will find success in North Carolina,” Gov. Roy Cooper said. “Charlotte’s stellar reputation as a place to do business makes TTX’s decision to move its headquarters to the Queen City no surprise.”
TTX, currently headquartered in Chicago, is a railcar pooling company founded as Trailer Train in 1955 by the Pennsylvania Railroad. The company is privately owned by North America’s leading railroads and functions as the industry’s railcar cooperative. Today’s decision will establish the company’s headquarters in Charlotte, relocating units involved with finance, information technology, human resources, and business and product development.
“We believe Charlotte presents a unique opportunity for TTX that provides for strategic partnerships to strengthen our business,” Thomas F. Wells, president & CEO for TTX Company, said. “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.”
Although wages will vary depending on the position, the average salary for the new positions will be, at a minimum, $162,000. The current average wage in Mecklenburg County is $80,349.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, Mecklenburg County, the City of Charlotte, Charlotte Center City Partners, and the Charlotte Regional Business Alliance.
