Alaska Railroad Corporation President and CEO Bill O’Leary emphasized the importance of the state’s railways during a Greater Fairbanks Chamber of Commerce luncheon on Tuesday, calling them an essential part of Alaska’s infrastructure.

“It is a key asset for this state,” O’Leary said. “This railroad exists for development and enabling economic development.”

O’Leary presented his semiannual update at the chamber, highlighting budget information, the corporation’s five-year capital investment plan, ridership numbers, and freight statistics.

The 102-year-old system is unique in that it is the only rail line providing both passenger and freight services along the Railbelt. O’Leary noted that freight capacity alone drastically reduces the cost of goods in Fairbanks compared to relying solely

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