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.
Efforts to unionize low-wage employees of fast-food franchisees and outside contractors get lift from decision of NLRB. More
The market volatility in China and the U.S. could hit private companies, especially late-stage unicorns. More
Mom and pop investors are dumping their investments and moving to cash at levels not seen since the financial crisis of 2008. More