Los Angeles County Awards ICF $18 Million Environmental Services Contract

Rhea-AI Summary

On April 13, 2023, ICF (NASDAQ:ICFI) secured an $18 million contract from the Los Angeles County Metropolitan Transportation Authority to provide environmental compliance services. This recompete contract spans five years, including three base years and two optional years. ICF will leverage its expertise in environmental assessment and advanced technology to ensure that Metro's transportation projects meet local, state, and federal regulations. The initiative aims to enhance the mobility landscape in Los Angeles County. In support of diversity, ICF has partnered with over 20 local disadvantaged business enterprises. This partnership continues ICF's 13-year collaboration with Metro, reinforcing its commitment to addressing environmental and equity concerns effectively.

Positive

• ICF won an $18 million contract from Los Angeles County Metro for environmental compliance services.
• The contract supports ICF's strategic goals in the transportation sector and enhances its revenue stream.
• ICF's collaboration with over 20 local disadvantaged business enterprises promotes diversity and community engagement.
• The project continues ICF's 13-year partnership with Metro, indicating sustained trust and performance in project delivery.

Negative

• None.

Project Supports the Transformation of One of the Nation's Largest Transportation Systems

RESTON, Va., April 13, 2023 /PRNewswire/ -- The Los Angeles County Metropolitan Transportation Authority (Metro) recently awarded global consulting and technology services provider ICF (NASDAQ:ICFI) a contract to provide environmental compliance services. The recompete contract has a ceiling value of $18 million and a term of five years, including three base years and two one-year options.

ICF will combine its deep environmental expertise and advanced technology and analytics capabilities to help Metro reach its vision of transforming the future of mobility in Los Angeles County. The company's streamlined environmental review process will help ensure the agency's transportation projects are managed efficiently throughout their lifecycle—from planning and permitting through construction—and comply with local, state and federal environmental requirements.

To meet the company's commitment to elevating small, minority-owned and disadvantaged business enterprises (DBE), ICF has engaged over 20 Los Angeles County-based DBE subcontractors to help deliver this work.

"ICF has a proven track record of addressing environmental and equity concerns in the transportation infrastructure sector," said Anne Choate, ICF executive vice president for energy, environment and infrastructure. "We understand Metro's need for a solid partner that brings both domain expertise and technology capabilities to address these concerns for maximum impact in Los Angeles County. We are excited to continue our 13-year partnership with Metro to help the agency deliver on its vision of creating a better transportation future for all."

ICF combines deep domain expertise with leading-edge technology and advanced analytics to streamline the environmental planning process and keep projects moving ahead in full regulatory compliance. The company's recognized technical experts match an understanding of environmental regulatory compliance with expertise in engineering, law, policy, public outreach and communications, and more to help clients navigate multiple layers of regulation, achieve their sustainability and equity goals and improve mission outcomes.

Read more about ICF's environment, transportation and technology services.

About ICF
ICF is a global consulting and technology services company with approximately 9,000 employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.

Caution Concerning Forward-looking Statements
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements that are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.

Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577

 

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SOURCE ICF

FAQ

What is the value of the contract awarded to ICF by Los Angeles County Metro?

ICF was awarded an $18 million contract by Los Angeles County Metro for environmental compliance services.

What is the duration of ICF's contract with Los Angeles County Metro?

The contract with Los Angeles County Metro is for five years, consisting of three base years and two optional one-year extensions.

How does ICF plan to support environmental compliance for Metro's projects?

ICF will utilize its environmental expertise and advanced technology to ensure compliance with local, state, and federal regulations for Metro's transportation projects.

What role do disadvantaged business enterprises play in ICF's contract with Metro?

ICF has engaged over 20 Los Angeles County-based disadvantaged business enterprises to assist in delivering the contract work.

How long has ICF been working with Los Angeles County Metro?

ICF has been partnered with Los Angeles County Metro for 13 years.