CRST Expedited (Part of CRST International, No. 18 on CCJ‘s Top 250) has announced it will be increasing its pay for all drivers with a $10 million investment intended to retain existing drivers and attract new ones, the Cedar Rapids, Iowa-based company said.

CRST Expedited President Cameron Holzer also said the increased pressure from federal regulations — namely, hours of service rules and CSA — affects drivers’ ability to “make a competitive salary,” and the $10 million can mitigate that, Holzer said.

“Our drivers are the heart of our organization and need to be compensated for the hard work and dedication they provide,” Holzer said.

Pay increases will be based on several factors, the carrier says, including tenure, experience and incremental pay for performance.

The company has also invested $13 million in a new driver training and truck repair facility in Riverside, Calif., and has built a $10 million CDL training academy in Cedar Rapids called the North American Driver Training Academy.

The company currently has 5,100 employees and 2,700 independent contractors. It operates 4,450 tractors nationwide.