ARRC Releases 2011 Annual Report
Alaska Railroad releases 2011 Annual Report
Corporation improves freight business diversification
ANCHORAGE, Alaska - The Alaska Railroad Corporation (ARRC) released its
2011 annual report today, with audited financial statements showing
$13.4 million net income on total revenues of $185.7 million.
Part of this success comes from a more diversified customer base.
Despite a decline in some legacy lines of business, freight train
revenue increased 12.7% thanks to expanded coal exports and a 3% volume
increase in interline (barge-rail) railcar traffic from Seattle and
Canada. Likewise, passenger revenue rose by 7.7% as ridership grew from
405,000 in 2010 to 413,000 in 2011. Beyond train operations, ARRC real
estate leasing and permitting provided reliable net income of $8.5
million, which remains crucial to meeting the ARRC mandate to remain
While owned by the State of Alaska, ARRC receives no state money to
support operations. Net income is used to fund capital investments,
match federal dollars, and support workforce programs.
ARRC continued to meet its mandate to support statewide economic
development with strong partnerships that moved two major rail extension
projects from the environmental phase into design and construction. The
Northern Rail Extension, supported by state and federal funding, began
construction on Phase One, a bridge over the Tanana River at Salcha; and
in Southcentral Alaska, the Port MacKenzie Rail Extension, funded by the
State of Alaska, began final design, permitting, and land acquisition in
2011. Both projects hold tremendous potential for new commerce.
“Maintaining a solid financial footing and investing intelligently in
our infrastructure are key to keeping our promises to the people of
Alaska,” said President & CEO Chris Aadnesen. “This new year is no
different. The Alaska Railroad will continue to be fiscal stewards and
to advance projects and programs that benefit Alaskans.”
In line with efforts to continually improve environmental stewardship,
the annual report will be produced electronically only. The report is
available on the ARRC website at:
ARRC is an Equal Opportunity Corporation. If you need special
assistance (including language) in order to participate in any ARRC
service, program, or activity, please contact: ARRC ; P.O. Box 107500;
Anchorage, AK 99510; Attention: Legal Department, email@example.com,
(907) 265-2461; via Alaska Relay Service for hearing impaired - dial 711
anywhere inside Alaska, OR dial toll-free from anywhere outside the
state 1-800-770-8255 (voice); 1-800 770-8973 (TTY). Upon request,
printed materials can be made available in alternate formats.