New Mexico Governor Susana Martinez has signed into law a bill passed by the New Mexico Legislature granting Union Pacific Railroad a locomotive fuel tax deduction. This legislation will allow Union Pacific to begin construction of an all new rail facility near Santa Teresa, N.M., in June 2011.
Construction of the new facility will create approximately 3,000 jobs during the build phase from 2011 to 2015. Union Pacific expects that more than 600 jobs will be based at the facility once it reaches full capacity. The estimated overall economic impact of the project for New Mexico exceeds $500 million.
The facility will be located just west of the Santa Teresa Airport on 2,200 acres and will include fueling facilities, crew change buildings, an intermodal yard and an intermodal ramp with an annual lift capacity of up to 250,000 intermodal containers. It is expected that the New Mexico economy will get an immediate boost when construction on the project begins later this year.
Construction of this facility is part of Union Pacific's commitment to invest approximately $3.2 billion in 2011 – capital investment that is part of a long-term strategy to provide safe, efficient service across its 32,000-mile network.