Norfolk Southern agrees to pay Virginia and Norfolk after announcing headquarters relocation

Posted at 3:54 PM, Dec 21, 2018
and last updated 2018-12-21 15:55:00-05

NORFOLK, Va. – After announcing their headquarters will move to Atlanta, Norfolk Southern has agreed to pay the Commonwealth and Norfolk.

Previously, Norfolk Southern received a state grant to commit keeping its headquarters in Norfolk through 2026.

As part of the agreement Norfolk also gave reduced parking fees to the company’s employees.

Norfolk Southern agreed to pay Virginia $1.925 million and the City of Norfolk $581,575.50 amid the announcement.

A company spokesperson said the payment will be complete before the end of the year.

Atlanta previously approved a nearly $24 million in tax breaks on the company’s planned $575 million investment to consolidate operations and relocate its headquarters to that city’s Midtown neighborhood.