Puerto Rico Awards ICF $84 Million Grants Management Contract
ICF (NASDAQ: ICFI) has been awarded an $84 million contract by Puerto Rico's Public Private Partnership Authority to continue supporting long-term disaster recovery and mitigation efforts across the territory. The recompete contract, administered by COR3, has a three-year term with a one-year base and two one-year options. ICF will provide grant management support to assist in dispersing FEMA funds, leveraging their proprietary disasTRAX® platform.
Since 2018, ICF has partnered with COR3, helping disburse over $9 billion in funds, including $2 billion in 2023. The company's disaster management experts, 95% of whom are based in Puerto Rico, will continue to support recovery efforts from various disasters, including hurricanes and earthquakes.
ICF (NASDAQ: ICFI) ha ricevuto un contratto di 84 milioni di dollari dall'Autorità per le Partnership Pubblico-Private di Porto Rico per continuare a sostenere gli sforzi a lungo termine di recupero e mitigazione dei disastri sull'intero territorio. Il contratto di rimessa in gara, gestito da COR3, ha una durata di tre anni con un anno di base e due opzioni di un anno. ICF fornirà supporto alla gestione dei fondi per assistere nella distribuzione dei fondi FEMA, sfruttando la loro piattaforma proprietaria disasTRAX®.
Dal 2018, ICF collabora con COR3, contribuendo a distribuire oltre 9 miliardi di dollari in fondi, di cui 2 miliardi nel 2023. Gli esperti di gestione dei disastri dell'azienda, il 95% dei quali è basato a Porto Rico, continueranno a supportare gli sforzi di recupero da vari disastri, tra cui uragani e terremoti.
ICF (NASDAQ: ICFI) ha sido adjudicado un contrato de 84 millones de dólares por la Autoridad de Asociaciones Público-Privadas de Puerto Rico para continuar apoyando los esfuerzos de recuperación y mitigación a largo plazo en todo el territorio. El contrato de recompra, administrado por COR3, tiene un plazo de tres años con un año base y dos opciones de un año. ICF proporcionará apoyo en la gestión de subvenciones para ayudar en la distribución de fondos de FEMA, aprovechando su plataforma propietaria disasTRAX®.
Desde 2018, ICF ha colaborado con COR3, ayudando a desembolsar más de 9 mil millones de dólares en fondos, incluidos 2 mil millones en 2023. Los expertos de la empresa en gestión de desastres, el 95% de los cuales están basados en Puerto Rico, continuarán apoyando los esfuerzos de recuperación de diversos desastres, incluidos huracanes y terremotos.
ICF (NASDAQ: ICFI)는 푸에르토리코 공공-민간 파트너십 당국으로부터 8천4백만 달러 계약을 수주하여 지역 내 장기 재해 복구 및 완화 노력을 계속 지원합니다. 재입찰 계약은 COR3가 관리하며, 3년 기간으로 기본 1년과 1년 옵션 2개로 구성되어 있습니다. ICF는 FEMA 기금을 배분하는 데 도움을 주기 위해 자사의 독점 플랫폼 disasTRAX®를 활용하며 보조금 관리 지원을 제공합니다.
2018년 이후, ICF는 COR3와 협력하여 90억 달러 이상의 기금을 배분했으며, 그 중 2023년에만 20억 달러가 포함됩니다. 회사의 재해 관리 전문가 중 95%가 푸에르토리코에 거주하며 허리케인과 지진 등 다양한 재해로부터의 복구 노력을 계속 지원할 것입니다.
ICF (NASDAQ: ICFI) a reçu un contrat de 84 millions de dollars de l'Autorité de Partenariat Public-Privé de Porto Rico pour continuer à soutenir les efforts à long terme de récupération et de mitigation des catastrophes à travers le territoire. Le contrat, réattribué par COR3, a une durée de trois ans avec une année de base et deux options d'un an. ICF fournira un soutien à la gestion des subventions pour aider à distribuer les fonds FEMA, en utilisant leur plateforme propriétaire disasTRAX®.
Depuis 2018, ICF collabore avec COR3, aidant à distribuer plus de 9 milliards de dollars de fonds, dont 2 milliards en 2023. Les experts en gestion des catastrophes de l'entreprise, dont 95 % sont basés à Porto Rico, continueront à soutenir les efforts de récupération suite à diverses catastrophes, y compris des ouragans et des tremblements de terre.
ICF (NASDAQ: ICFI) hat von der Public Private Partnership Authority von Puerto Rico einen Vertrag über 84 Millionen Dollar erhalten, um die langfristige Unterstützung von Katastrophenhilfe und -minderung im gesamten Gebiet fortzusetzen. Der neu ausgeschriebene Vertrag, der von COR3 verwaltet wird, hat eine Laufzeit von drei Jahren mit einem Basisjahr und zwei einjährigen Optionen. ICF wird Unterstützung im Zuschussmanagement bieten, um bei der Verteilung von FEMA-Mitteln zu helfen und dabei ihre eigene disasTRAX® Plattform zu nutzen.
Seit 2018 arbeitet ICF mit COR3 zusammen und hat dabei über 9 Milliarden Dollar an Mitteln ausgezahlt, darunter 2 Milliarden im Jahr 2023. Die Katastrophenmanagement-Experten des Unternehmens, von denen 95% in Puerto Rico ansässig sind, werden die Wiederherstellungsbemühungen bei verschiedenen Katastrophen wie Hurrikans und Erdbeben weiterhin unterstützen.
- Secured a significant $84 million contract for disaster recovery services
- Potential for a three-year engagement with option periods
- Leveraging proprietary disasTRAX® platform for efficient grant management
- Strong local presence with 95% of experts based in Puerto Rico
- Demonstrated success in disbursing over $9 billion in funds since 2018
- None.
Insights
The $84 million contract award to ICF by Puerto Rico's Public Private Partnership Authority is a significant development for the company. This recompete contract, with a three-year term including options, demonstrates ICF's strong position in the disaster management and recovery services sector.
From a financial perspective, this contract has several positive implications:
- Revenue Stability: The contract provides a steady revenue stream for ICF over the next three years, enhancing predictability in the company's financial forecasts.
- Market Position: Winning a recompete contract underscores ICF's expertise and client satisfaction, potentially leading to future contract wins in this sector.
- Operational Efficiency: Leveraging their proprietary disasTRAX® platform should help maintain healthy profit margins by streamlining operations.
However, investors should note that while
The contract's impact on ICF's stock price may be in the short term, but it contributes to the company's long-term growth story in the disaster management sector. Investors should monitor ICF's ability to secure similar contracts and expand its market share in this niche but important service area.
This contract renewal highlights ICF's pivotal role in Puerto Rico's ongoing recovery efforts, which are described as 'unprecedented in scale, scope and complexity.' Several key points stand out from a disaster management perspective:
- Local Expertise: With
95% of ICF's disaster management experts based in Puerto Rico, the company demonstrates a strong commitment to local capacity building and understanding of on-the-ground realities. - Track Record: ICF has already helped disburse over
$9 billion in funds since 2018, including$2 billion in 2023 alone. This showcases their ability to effectively manage and distribute large sums of disaster relief funds. - Multi-Hazard Experience: ICF's involvement spans multiple disasters, including hurricanes and earthquakes, indicating versatility in disaster response.
The use of ICF's proprietary disasTRAX® platform is particularly noteworthy. In disaster management, speed and compliance are often at odds. A centralized, cloud-based system can significantly accelerate fund disbursement while ensuring regulatory compliance, a critical factor in managing FEMA funds.
Looking ahead, ICF's experience in Puerto Rico could serve as a valuable case study for other regions facing complex, long-term recovery scenarios. The company's ability to manage
ICF to Expand Disaster Management, Recovery and Mitigation Services Across Territory
ICF's disaster management experts,
"COR3 is leading a disaster recovery effort which is unprecedented in scale, scope and complexity," said Anne Choate, ICF executive vice president for energy, environment and infrastructure. "We are proud to continue to play a pivotal role in building local capacity and improving how funds get moved into the hands of local communities more efficiently, ultimately achieving COR3's vision of creating a stronger, more prosperous
Since 2018, ICF has partnered with COR3, providing disaster recovery grant management services across multiple disasters ranging from hurricanes Maria, Irma and Fiona to earthquakes and more. Activities include request for reimbursement processing and providing technical support to Puerto Rican government agencies, municipalities and private nonprofit organizations. To date, the company has helped COR3 disburse over
For over 20 years, ICF has been on the ground for some of the most significant natural disasters in
Read more about ICF's efforts to help rebuild in Puerto Rico, and their disaster management services and grants management technology solutions.
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
Contact: Lauren Dyke, lauren.dyke@ICF.com, +1.571.373.5577
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SOURCE ICF
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