Jacksonville Port Authority Awards Jacobs Multiple Contracts
Jacobs (NYSE:J) has been awarded contracts to provide engineering services for the Jacksonville Port Authority (JAXPORT), the largest container port in Florida, as it deepens its shipping channel to accommodate larger vessels. The project will enhance JAXPORT's cargo and cruise terminals over a three-year period, with potential renewals for two additional years. JAXPORT contributes significantly to the local economy, generating 138,000 jobs and over $31 billion annually in economic impact. Jacobs reported $13 billion in revenue and employs over 55,000 people globally.
- Jacobs secured multiple contracts with JAXPORT, enhancing its service portfolio.
- The project involves deepening the shipping channel to accommodate larger vessels, indicating growth potential.
- JAXPORT plays a critical economic role in Northeast Florida, supporting 138,000 jobs and $31 billion in economic impact.
- None.
DALLAS, Oct. 15, 2020 /PRNewswire/ -- Jacobs (NYSE:J) was selected to provide civil, structural and marine engineering consulting and design services for the Jacksonville Port Authority (JAXPORT). The largest container port in Florida, JAXPORT is deepening its shipping channel to accommodate more cargo aboard the larger ships calling on them from destinations throughout Asia and other world markets through both the Panama and Suez canals. JAXPORT is also home to the Carnival Ecstasy cruise line and recently accommodated three additional cruise ships during the cruise industry's suspension of U.S. cruise operations due to the COVID-19 pandemic.
Jacobs will partner with JAXPORT to maintain, enhance and expand the port's three cargo terminals and one passenger cruise terminal which may involve wharfs, docks, berths, bulkheads, dock-piles and other similar facilities for their terminal structures. Additional civil and structural support includes planning, design, construction and similar services for buildings, roads, bridges and rails. Each contract spans three years with renewals possible for two additional one-year periods.
"JAXPORT is encountering a period of tremendous growth," says Jacobs People & Places Solutions Senior Vice President Tom Meinhart. "This contract gives us the opportunity to help them meet the needs of their growing operations, but more importantly contribute to their critical role as a major economic engine in Northeast Florida."
An independent agency responsible for the development of public seaport facilities in Jacksonville, JAXPORT owns, maintains and markets three cargo terminals, an intermodal container transfer terminal and a passenger cruise terminal along the St. Johns River. According to the most recent economic impact study, cargo activity through Jacksonville's seaport generates 138,000 jobs in Florida and more than
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Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic and the related reaction of governments on global and regional market conditions and the company's business. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see our Annual Report on Form 10-K for the year ended September 27, 2019, and in particular the discussions contained under Item 1 - Business; Item 1A - Risk Factors; Item 3 - Legal Proceedings; and Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations, and our Quarterly Report on Form 10-Q for the quarter ended June 26, 2020, and in particular the discussions contained under Part I, Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Part II, Item 1 - Legal Proceedings; and Part II, Item 1A - Risk Factors, as well as the company's other filings with the Securities and Exchange Commission. The company is not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law.
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