EJ&E sale would boost Chicago area gross regional product

EJ&E sale would boost Chicago area gross regional product A Chicago-area organization said Canadian National Railway’s plan to divert freight trains to a suburban rail line would ease the freight traffic gridlock in northeastern Illinois would and spur a growth of $267 million in the nation’s gross domestic product, including more than $60 million in the Chicago region’s gross regional product.
   The study released by Chicago Metropolis 2020 on Wednesday projected the pending purchase of the EJ&E Railway by the CN would create 649 net new jobs in the region with total new annual salaries of $39 million and a growth in annual sales in the region of more than $160 million.
   Chicago Metropolis 2020, a business-based civic organization, commissioned the independent economic benefits study of the EJ&E transfer, which awaits a decision by the Surface Transportation Board.
   “Some 2,800 miles of railroad track crisscross our Chicago region, and changing how those rails are used can lead to efficiencies with widespread benefits to our region’s economy,” said George A. Ranney, president and chief executive officer of Chicago Metropolis 2020. “The sale of the EJ&E and new investments in rail improvements will be advantageous to the entire region and can reinforce this region’s dominant role as a freight transportation center — one that doesn’t have to be a bottleneck but can again be a job-creation engine for our economy.”
   The EJ&E purchase has been run into strong community opposition by some towns who are concerned about an increase in train traffic CN’s purchase would bring.
   The complete study is available at www.chicagometropolis2020.org.