Small N.Y. hamlet gets big train-car contract

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- The town of Elmira, an upstate New York community that once prospered during the manufacturing boom, got a spot of good news Friday.

A total of 575 jobs are coming to the small city, after Amtrak awarded an Elmira-based company a contract to build 130 new train cars.

CAF USA, a subsidiary of a Spanish rail manufacturer, will build the single-level rail cars and hire hundreds for manufacturing and assembly work at its plant in Elmira. The first car is scheduled to be completed in October 2012.

The five-year contract, worth $298.1 million, is the first step in a fleet renewal plan. Amtrak said the new cars will replace some old fleet cars still in use -- including some built in the 1940s and 1950s.

The car replacements will save money and improve trains' on-time performance, Amtrak added. The company plans to replace its entire fleet over the next 30 years. To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 18,139.12 42.22 0.23%
Nasdaq 4,984.74 17.60 0.35%
S&P 500 2,102.20 3.67 0.17%
Treasuries 2.11 -0.01 -0.52%
Data as of 3:52pm ET
Company Price Change % Change
Bank of America Corp... 15.98 0.14 0.92%
Apple Inc 126.38 -2.16 -1.68%
AbbVie Inc 56.90 -3.37 -5.59%
Facebook Inc 81.26 0.37 0.45%
Avon Products Inc 9.06 -0.04 -0.44%
Data as of 3:38pm ET
Sponsors

Sections

Apple just got a patent for a design that could waterproof the electronic components of a computing device. More

Wage growth has become the central focus of the economy's health. It will impact workers and investors. More

Apple just got a patent for a design that could waterproof the electronic components of a computing device. More

Frank & Oak, Airbnb, and Net-a-Porter are just a couple of companies investing in the antiquated medium. More

Lawmakers and consumer advocates are speaking out against the special treatment given to debt collectors hired by government agencies across the country. More

Approved - solomong
jpepitone.gsolomon