Union Pacific Railroad has been in operation for 150 years and last Friday, January 20th, CEO Jim Young renewed their commitment to the state of Nebraska. U-P is investing $1-billion over the next few years for upgrades.
125 trains transport goods through Nebraska on U-P’s main line that runs through the state. They will invest $220-million to expand that line. $70-million is slated to expand the North Platte rail yard. U-P will also spend $206-million for a new bridge over the Elkhorn River and for new track and technology between Fremont, Nebraska and Missouri Valley, Iowa. That project includes new crew change buildings as well.
Young expects the upgrades will create 1,000 new jobs.
U-P could receive up to $100-million in state tax breaks.