Tuesday, January 5, 2016

Guess who gets to profit from Greensboro's taxpayers paying for Water and Sewer to Randolph County?

"NC Railroad Co. to purchase 875 acres within Triad megasite

...The North Carolina Railroad Co. has reached agreements to buy about 875 acres within the 1,450-acre Greensboro-Randolph Megasite designed to lure a major auto manufacturer.

875 / 1,450 = more than 60% owned by a private company
owned by the state?

That news came in a Jan. 5 letter from NC Railroad to Greensboro Mayor Nancy Vaughan; Jim Melvin, chairman of the Greensboro-Randolph Megasite Foundation; and Randolph County Board of Commissioners Chairman Darrell Frye.

The Randolph County Board of Commissioners in February approved plans to spend about $4.2 million to purchase 255 acres at the megasite, and the railroad's intentions would seem to give would-be tenants increased confidence that the site could be assembled and made ready.

$4.2 million / 255 acres = $16,470 per acre

875 x $16,470 = $14,411,250 for the land

Sam Simpson had a good day.

Now all Greensboro has to do is cough up another $20 million, 
and the NC Railroad Company makes millions more

"Last year, Randolph County spent $10 million to buy 425 acres.

$10 million / 425 acres = $23,529 per acre

875 x $23,529 = $20,587,875 

The railroad is a private company but the state owns all of its stock."

Who makes what if the state owns the stock but it's a private company?
"1989 September 29: NCRR merged with the Atlantic & North Carolina Railroad (chartered in 1854 to run east from NCRR’s terminus in Goldsboro to the port in Morehead City).  This merger consolidated a 317-mile corridor from Charlotte to Morehead City

1998: The State of North Carolina bought out the 25% of private NCRR stock shares making NCRR a privately run company, fully owned by the State.

2000: NC Legislature established a statute enabling NCRR to reinvest dividends into crucial improvements to the NCRR line"


The longtime working relationship with the State was formalized and strengthened in 1998 when the Company bought all remaining private NCRR stock shares, retaining the NCRR as a privately-run company, but one fully owned by the people of the State.

In 2000, the North Carolina General Assembly created a statute enabling the Company to reinvest working capital into crucial improvements to the NCRR corridor."



Franklin Rouse, Jr.

Robert Brown
Vice Chairman
High Point

Jake Alexander, III

Thomas Glasgow
Morehead City

Jeffrey Goodman

Fred Klein

Jim Nance

Gervais Oxendine

John M. Pike

George Rountree, III

John E. Skvarla, III

Douglas Stafford

Michael Walters


2809 Highwoods Blvd., Raleigh, NC 27604 • Phone: 919-954-7601 • Fax: 919-954-7099 • email: NCRR_Info@ncrr.com

Please click here for emergency contact information.

North Carolina Railroad Company

Scott M. Saylor

Catherine Campbell
Planning Director

Corporate Communications

Megen Hoenk
Director of Corporate Communications


Jim Kessler, P.E.
Vice President – Engineering

Justin Madigan
Infrastructure Manager and Information Technology

Donald Arant, P.E.
Staff Engineer

Economic Development

Anna Lea Moore
Vice President – Economic Development

Richard Wiley
Senior Consultant – Economic Development


Daniel P. Halloran
Vice President and Chief Financial Officer

Nancy Pickett
Office Manager

Hilary Perez

Melissa DeVita
Administrative Assistant

Property Department

Charles E. Burnell
Vice President – Real Estate

William C. Miller
Property Manager

Kristian Forslin, GISP, PLS
GIS Coordinator

Corridor Property Management

John L. Spencer
Director of Corridor Property

Cathy Deeley
Real Estate Representative