Canadian rail industry continues to drive economic and safety gains: RAC

The Railway Association of Canada (RAC) released its Rail Trends 2024 report, offering a 10-year review of the rail sector’s financial and operational performance.

“Rail doesn’t just move goods and people; it moves economies forward,” said Marc Brazeau, RAC’s president and CEO. “Rail Trends 2024 is a testament to what a strong rail sector means for a competitive and robust Canadian economy.”

The report highlights $2.9 billion in investments to enhance safety, efficiency and capacity, contributing to an 8.5 per cent drop in total accidents in 2023 compared to the previous year. Passenger train accident rates improved by 52.4 per cent, while dangerous goods accidents dropped by 15.9 per cent.

Railway employment rose by 2,000 direct jobs, with increased representation of women, visible minorities, persons with disabilities and Indigenous Peoples.

“Powered by over 37,000 railroaders, the rail industry invests billions of dollars annually to enhance safety, efficiency and support the growth of Canadian businesses,” Brazeau said. “Fueled by passion, pride and resilience, Canada’s railways continue to meet the challenge.”

The rail sector also contributed over $2.5 billion in taxes, underscoring its economic impact.

This 32nd edition of Rail Trends includes data from RAC member companies up to Dec. 31, 2023. The full report is available here.