Louisville and Indiana Railroad

What Louisville and Indiana Railroad does

Louisville and Indiana Railroad (LIRC) is a privately held short line freight railroad that operates 106 miles of rail line connecting Indianapolis, Indiana and Louisville, Kentucky. The company was formed in March 1994 to acquire the corridor from Conrail and is now a wholly-owned subsidiary of Anacostia Rail Holdings Company, a portfolio that collectively handles approximately 2 million carloads per year across more than 760 miles of track. LIRC serves approximately 60 industrial customers with a fleet of 11 locomotives, ~250 storage car spots, and an annual volume of about 20,000 carloads, handling commodities including agriculture and grain, fertilizer, chemicals, steel, lumber, building materials, polymers, food and beverage products, aggregates, and scrap metals. The corridor was substantially modernized through the Southwind Upgrade (2014-2018), which replaced 1930s-era jointed rail with 136# continuous welded rail and increased maximum operating speed from 25 mph to 49 mph and railcar capacity from 263,000 lbs. to 286,000 lbs. gross weight on rail.

LIRC's revenue model is transaction-based on published tariff rates (rail freight transportation, transloading, crossdocking, car repair, storage, and warehousing), with demurrage charges for railcar detention beyond free time and credit terms of net-15 days. The company interchanges daily with Class I railroads (CSX, Norfolk Southern) and Class II/short line connections (INRD, PAL), and operates four transload facilities (Dutch Lane Yard, Edinburgh Terminal, Jeffersonville Transload Yard, Speed Transload Yard) plus the Columbus Aggregate Pit. Distribution is sales-led and direct to enterprise industrial customers along the corridor, supplemented by industrial development services for rail-served site selection and partnerships with state economic development organizations (IEDC, Greater Columbus, Aspire Johnson County, Jackson County IDC). A STB-approved Joint Use Operating Agreement with CSX (April 2015) gives CSX operating easement in exchange for funding main-track improvements, and an ongoing partnership with INDOT has upgraded 77 grade crossings since 2018. The company received a $2,685,600 Federal Railroad Administration grant in September 2023, was awarded Railway Age Short Line of the Year in 2019, and qualified for the Department of War's Skillbridge program in 2026.

Name

Louisville and Indiana Railroad

Legal name

Louisville & Indiana Railroad

Website

https://anacostia.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Louisville and Indiana Railroad is a privately held short line freight railroad operating 106 miles between Indianapolis and Louisville, serving approximately 60 industrial customers with 20,000 annual carloads across agriculture, chemicals, steel, and building materials.

Ownership category

akta.pro rank

Product category

Short Line Freight Rail Transportation

NAICS

Short Line Railroads (482112)

SIC

Railroads, Line-Haul Operating (4011), Railroad Switching & Terminal Establishments (4013)

akta.pro industry

PRIMARYTLADACAJ

Industrial & Terminal Railroads (Plant/Port Switching)

Transportation & Logistics/Freight Transportation (Air, Maritime, Rail, Trucking)/Rail Freight Operators (Class I/Regional/Short Line)

SECONDARYTLADACAB

Intermodal Rail Operators (Container/Trailer-on-Flatcar)

Transportation & Logistics/Freight Transportation (Air, Maritime, Rail, Trucking)/Rail Freight Operators (Class I/Regional/Short Line)

SECONDARYTLADAKAB

Dry Bulk Rail Freight (Unit Trains)

Transportation & Logistics/Freight Transportation (Air, Maritime, Rail, Trucking)/Dry Bulk & Commodities Freight Transport

Keywords

• Short line freight rail
• Rail transportation services
• Transloading services
• Industrial rail development
• Railcar storage

Headquarters

HQ city

Jeffersonville

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Freight Rail Transportation Services: LIRC generates revenue through freight rail transportation services, including rail direct shipments, industrial development services, crossdocking, transloading, car repair, track inspection, storage services for loaded and empty railcars, and warehousing. The railroad handles commodities including agriculture/grain, fertilizer, waste material, polymers, chemicals, building materials, lumber, pulp/paper, food grade products, beverages, steel, scrap metals, and aggregates/minerals.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Louisville & Indiana Railroad (LIRC) operates a 106-mile short line freight railroad between Indianapolis, IN and Louisville, KY, providing rail freight transportation, transloading, warehousing, industrial development, and RailDirect car service for approximately 60 industrial customers across commodities including grain, fertilizer, chemicals, building materials, steel, and aggregates. The company handles about 20,000 carloads annually and interchanges with multiple Class I railroads (CSX, Norfolk Southern, INRD, PAL).

Product overview

Louisville and Indiana Railroad (LIRC) operates as a short line freight railroad providing a unified rail freight service along 106 miles of track between Indianapolis and Louisville. The core product is freight rail service, supported by add-on services including Industrial Development (attracting rail-served businesses), Transloading (multi-commodity facilities for truck-rail transfer), Warehousing (storage for loaded and empty railcars), Car Repair (limited offering), and RailDirect (direct car service to customers). The railroad handles diverse commodities including agriculture/grain, fertilizer, chemicals, building materials, steel, and aggregates, with annual volume of 20,000 carloads and capacity of 286k GWOR.

Differentiator

Problem solved

Functional benefit

Products and services

• Freight Rail Service Safe, consistent, and efficient rail freight service along 106 miles of rail line between Indianapolis and Louisville, handling approximately 20,000 carloads annually with connections to CSXT, INRD, NS, MGRI, and PAL railroads. Available to industrial shippers across commodities including grain, fertilizer, chemicals, building materials, steel, and aggregates.
• Industrial Development Services Industrial development services to attract new business along LIRC's rail corridor, providing rail-served industrial sites and development opportunities in Indiana and Kentucky. Targeted at companies seeking rail-served properties for new or expanded facilities.
• Transloading Services Transloading facilities at Dutch Lane Yard, Edinburgh Terminal, Jeffersonville Transload Yard, and Speed Transload Yard for transferring cargo between rail and truck. Edinburgh Terminal handles multi-commodity transload including steel coils, wire, plate, beams, aluminum, pipe, aggregate, minerals, building materials, lumber, scrap steel, grain, fertilizer, DDGs, pulp, paper, and super sacks.
• Warehousing and Railcar Storage Services Warehousing services including storage for loaded (non-haz) and empty (non-haz residue) railcars, with approximately 250 storage car spots available. Provides shippers with capacity to stage railcars during transit and inventory management.
• RailDirect Service Direct rail car service to and from customers along the LIRC line, with daily interchanges with connecting carriers. Targeted at shippers requiring reliable car spotting and pickup at their private sidings.
• Car Repair Services Limited car repair services for railcars moving through LIRC's network, supporting customers' fleet maintenance needs during transit.

Quantifiable outcome

• Speed increased from 25 mph to 49 mph after 2018 Southwind Upgrade
• +2 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• Anacostia Rail HoldingscoreOthersParent company that owns and operates Louisville & Indiana Railroad. Anacostia Rail Holdings Company owns and operates six U.S. railroads operating in seven states, handling approximately 2 million carloads per year with over 760 miles of track.
• CSX TransportationcoreTechnology or IntegrationClass I railroad connection at Indianapolis, IN and Jeffersonville, IN. CSX has a non-exclusive freight railroad operating easement over LIRC under a Joint Use Operating Agreement approved by STB in April 2015, with CSX funding improvements over the LIRC main track.
• Norfolk Southern RailwaycoreTechnology or IntegrationClass I railroad connection at Louisville, KY providing interchange for freight movements.
• Indiana Department of Transportation (INDOT)coreStrategic or Co-development PartnerPartnership for crossing safety upgrades. Since 2018, LIRC and INDOT have been upgrading warning devices at crossings, with two overpasses built and 77 grade crossings receiving upgraded warning devices.
• Precision Terminal LogisticscoreStrategic or Co-development PartnerJointly owned entity (with Brown Brothers Harriman Capital Partners) providing transload, material handling, storage, processing and industrial switching services at LIRC facilities.
• Department of War Skillbridge ProgramminorStrategic or Co-development PartnerLIRC is one of the first railroads to qualify for the Department of War's Skillbridge program, allowing training of transitioning service members for conductor certification and prospective careers upon discharge.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• New York & Atlantic Railway: Anacostia-owned short line serving the New York metropolitan area with freight rail and transloading services. Same parent, similar short line operating model with Class I interchange and industrial customer focus.
• Pacific Harbor Line: Anacostia-owned short line providing industrial switching and transloading services at the Port of Los Angeles/Long Beach. Operates a similar industrial-switching-plus-transload model to LIRC, but in a port environment.
• Gulf Coast Switching: Anacostia-owned switching services operator on the U.S. Gulf Coast. Highly comparable to LIRC's industrial switching and terminal operations business, with a similar customer mix in chemicals and industrial products.
• Chicago South Shore & South Bend Railroad: Anacostia-owned regional/short line railroad operating in Indiana and the Chicago region. Shares the Midwest operating environment and industrial customer base with LIRC.
• Northern Lines Railway: Sister short line railroad under Anacostia Rail Holdings, operating a similar regional/short line freight model. Shares sales leadership with LIRC (the Senior Director of Sales & Marketing covers both), making it the closest operational and strategic peer.
• Indiana Rail Road: Regional railroad operating in Indiana and connecting to Chicago, with interchange points including Indianapolis. Directly comparable geographic and operational footprint to LIRC, and one of LIRC's named interchange partners.
• Iowa Interstate Railroad: Mid-sized regional railroad connecting Iowa to Chicago with industrial and agricultural commodity mix. Similar position to LIRC as a privately held regional carrier with Class I interchange relationships.
• Reading & Northern Railroad: Privately held regional/short line railroad operating in Pennsylvania with significant industrial customer base in aggregates, lumber, and chemicals. Comparable in scale (mid-sized short line with industrial development focus) and commodity mix to LIRC.

Broad incumbents

• Genesee & Wyoming Inc. Largest owner and operator of short line and regional railroads in North America, owned by Brookfield Infrastructure. Operates a portfolio analogous to Anacostia's, providing a broad comparable for portfolio-level short line economics, though G&W's individual roads are typically larger than LIRC.
• Watco Companies: Privately held transportation services company that owns and operates more than 40 short line railroads in the U.S. plus transloading and railcar repair businesses. Directly comparable service portfolio to LIRC's combined freight, transload, and car repair offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/louisville-indiana-railroad
• Facebookfacebook.com/LIRCRR

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Louisville and Indiana Railroad