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U.S. Railcar Planning $14 Million Investment in Ohio

U.S. Railcar LLC has announced its intention to build a $14 million factory near Columbus, Ohio, to build passenger trains for the government's proposed high-speed rail network, according to the Associated Press (AP). The company, which will create approximately 160 new jobs with the project, plans to apply for $8.7 million in funds from the American Recovery and Reinvestment Act; the Ohio Rail Development Commission has agreed to sponsor the company's stimulus application, which is due to the U.S. Department of Transportation on September 15. AP says the state is offering the company $3 million in financial incentives, and the company has secured an additional $2.1 million in private investments. Transportation is scheduled to make its decisions in January 2010.

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