TTX Selects Mecklenburg County for Headquarters Relocation

The light rail moving  through a newly redeveloped community.

TTX, a railcar pooling company owned by the country’s leading rail carriers, has selected Mecklenburg County for its new headquarters location. The company will invest at least $13.8 million in and bring 150 new jobs to Charlotte’s Central Business District.

“We believe Charlotte presents a unique opportunity for TTX that provides for strategic partnerships to strengthen our business,” said Thomas F. Wells, President & Chief Executive Officer for TTX Company. “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.”  

TTX is a railcar pooling company founded as Trailer Train in 1955 by the Pennsylvania Railroad. TTX’s right-sized, low cost, reliable fleet of over 170,000 railcars serves North America’s railroads and the world’s freight needs. TTX helps railroads meet their customers’ needs by providing well-maintained railcars in an efficient, pooled environment, investing $6 billion in additional railcars, over the past ten years alone. TTX has a complete engineering and design team to care for its large and varied fleet with maintenance operations in terminals across the network. In addition to this vital role as a railcar pool operator, TTX invests in and operates sophisticated industry technology solutions, and these solutions improve the quality and timeliness of financial and operating information for managing our business. Further, TTX is a recognized innovator in the technical design and engineering of railcar components.

“Designated as the number one state in the nation do to 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,” said Governor Cooper. “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’s relocation decision further solidifies Mecklenburg County’s position as a major logistics center. We continue to succeed in attracting businesses like TTX because of our community assets and our large pool of highly qualified workers. We welcome their monetary investment as well as the 150 new high-paying jobs they bring to the area and look forward to a partnership that benefits the entire community,” said Mecklenburg Board of County Commissioners Chair George Dunlap.

“We are pleased to welcome our newest headquarters to Charlotte,” said Mayor Vi Lyles. “We are grateful that TTX is investing in Charlotte, and we appreciate their commitment to safety and sustainability. Companies like TTX are further proof that Charlotte’s local economy is strong and getting stronger by the day.”

TTX’s distinctive model, heritage, and mission inspire them to plan decades ahead, giving them a long-term perspective that guides their approach to environmental, social and governance factors. Safety, service, and sustainability are part of the company’s DNA. Rail is by far the most efficient way to move freight over land. TTX’s railcar pools and management of other industry pools help rail move more efficiently by reducing the total number of railcars needed, minimizing empty railcar miles and making supply chains more sustainable. The materials program emphasizes reuse and reconditioning of parts and raw materials, helping to mitigate the environmental footprint.

This project was a collaborative effort between Mecklenburg County, the City of Charlotte, the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, North Carolina General Assembly, North Carolina Community College System, Charlotte Center City Partners, and the Charlotte Regional Business Alliance.

Over the past 12 months, Mecklenburg County and the City of Charlotte have collaborated on economic development projects including relocations and expansions of the ACC, Solve Industrial Motion Group, Albemarle Corporation, and alpitronics Americas LLC. With today’s announcement from TTX, the City and County have helped bring more than $312 million in capital investment and 800 new jobs.


Office of Economic Development

The mission of the Mecklenburg County Office of Economic Development is to provide resources to the business community with the purpose of attracting, retaining, and expanding employment opportunities for County residents. We strive to stimulate the local economy and expand the local sales and property tax base, while maintaining a positive balance between growth, social equity and the economy.