Jacobs Appointed Program Management Consultant for Long Island Rail Road Stations Improvement Project

Rhea-AI Summary

Jacobs (NYSE:J) has been selected by the New York Metropolitan Transportation Authority (MTA) as the program management consultant for the Long Island Rail Road (LIRR) station improvements project. The project focuses on modernizing three of New York City's busiest stations: Babylon, Forest Hills, and Hollis.

Jacobs will provide program management services, overseeing construction and commercial management, design compliance, and risk identification. The project aims to bring these stations into Americans with Disabilities Act (ADA) compliance, improving accessibility and passenger safety.

Key improvements include installation and rehabilitation of ADA-compliant elevators, escalators, ramps, platform and canopy replacements, as well as architectural and wayfinding upgrades. The total contract value is estimated at $227.5 million, with final completion anticipated in 2026.

Positive

• Jacobs selected as program management consultant for a major LIRR station improvement project
• Project valued at $227.5 million, potentially boosting Jacobs' revenue
• Enhances Jacobs' position in the infrastructure and transportation sector
• Aligns with Jacobs' expertise in complex infrastructure projects

Negative

• None.

Insights

Infrastructure Development Analyst

This project represents a significant infrastructure upgrade for New York's public transportation system. The $227.5 million contract to modernize three key LIRR stations is a substantial investment in improving accessibility and service quality. Jacobs' role as program management consultant is crucial, overseeing construction, design compliance and risk management. The focus on ADA compliance will expand ridership potential, potentially increasing LIRR's 260,000 daily customer base. The project's completion, expected in 2026, should enhance operational efficiency and passenger experience, potentially leading to increased ridership and revenue for the MTA. For Jacobs, this high-profile project reinforces its position as a leader in program management, potentially leading to future contracts in the transportation sector. However, investors should monitor project execution and timeline adherence, as delays or cost overruns could impact Jacobs' reputation and profitability.

Transportation Industry Specialist

This contract win for Jacobs is strategically significant in the transportation infrastructure sector. It aligns with the growing trend of modernizing aging public transit systems, particularly in major urban centers. The project's focus on ADA compliance reflects the industry-wide push towards inclusivity and accessibility, which could become a benchmark for future projects. Jacobs' involvement in high-profile projects like Grand Central Madison and international ventures positions them well for similar contracts globally. The LIRR's status as North America's busiest commuter rail adds prestige to this project, potentially opening doors for more contracts in densely populated urban areas. Investors should note that success in this project could lead to a stronger pipeline of similar high-value contracts for Jacobs, enhancing long-term growth prospects in the infrastructure and transportation sectors.

Modernizing aging infrastructure for three of New York City's busiest stations

DALLAS, Sept. 25, 2024 /PRNewswire/ -- Jacobs (NYSE:J) was selected by the New York Metropolitan Transportation Authority (MTA) as the program management consultant for the Long Island Rail Road (LIRR) station improvements project. Focused on keeping passengers safe and supporting MTA's on-time service commitments, Jacobs will provide program management services, overseeing construction and commercial management, design compliance and risk identification.

The design-build contract includes updating LIRR's Babylon, Forest Hills and Hollis stations to bring them into Americans with Disabilities Act (ADA) compliance – increasing the population that can access and enjoy this public amenity.  

"As the busiest commuter rail system in North America, Long Island Rail Road provides essential mobility to Long Island and the wider New York City metropolitan area," said Jacobs Senior Vice President Chrissy Thom. "Leveraging our integrated approach to complex delivery on similar global programs, we'll work with the MTA to tackle its aging infrastructure, improve access and bring three crucial pieces of their system into ADA compliance and a state of good repair – connecting New York City commuters to their destinations smoothly into the future."

LIRR serves nearly 260,000 customers daily. Improvements are expected to include installation and rehabilitation of ADA compliant elevators, escalators, ramps, platform and canopy replacements as well as architectural and wayfinding upgrades that improve functionality and provide a more comfortable customer experience.

MTA estimates the total contract value for this project at $227.5 million and final completion is anticipated in 2026.

Ranked as No.1 in Program Management by Engineering News-Record, Jacobs delivers today's most complex, challenging and iconic infrastructure and transformation programs. Jacobs has supported programs like New York City's Grand Central Madison project, the Thames Tideway Tunnel, one of the largest water infrastructure projects ever undertaken in the U.K., and Etihad Rail, one of the largest rail infrastructure programs in the United Arab Emirates.

At Jacobs, we're challenging today to reinvent tomorrow by solving the world's most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. With approximately $16 billion in annual revenue and a talent force of more than 60,000, Jacobs provides a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. Visit jacobs.com and connect with Jacobs on Facebook, Instagram, LinkedIn and X.

Certain statements contained in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that do not directly relate to any historical or current fact. When used herein, words such as "expects," "anticipates," "believes," "seeks," "estimates," "plans," "intends," "future," "will," "would," "could," "can," "may," and similar words are intended to identify 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, our plans to spin off and merge with Amentum our Critical Missions Solutions  business and a portion of our Divergent Solutions business in a proposed transaction that is intended to be tax-free to stockholders for U.S. federal income tax purposes, the timing of the award of projects and funding and potential changes to the amounts provided for under the Infrastructure Investment and Jobs Act and other legislation related to governmental spending, as well as general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates and foreign currency exchange rates, changes in capital markets, the possibility of a recession or economic downturn, geopolitical events and conflicts, and the impact of any future pandemic or infectious disease outbreak, including the related reaction of governments on global and regional market conditions, among others. For a description of some additional factors that may occur that could cause actual results to differ from our forward-looking statements, see 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 in our most recently filed Annual Report on Form 10-K, and Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations; Item 1 - Legal Proceedings; and Item 1A - Risk Factors in our most recently filed Quarterly Report on Form 10-Q, 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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FAQ

What is the value of the LIRR station improvement project that Jacobs (NYSE:J) is managing?

The total contract value for the Long Island Rail Road (LIRR) station improvement project that Jacobs (NYSE:J) is managing is estimated at $227.5 million by the MTA.

Which LIRR stations will be improved in the project managed by Jacobs (NYSE:J)?

The project managed by Jacobs (NYSE:J) will improve three LIRR stations: Babylon, Forest Hills, and Hollis.

When is the expected completion date for the LIRR station improvement project involving Jacobs (NYSE:J)?

The final completion of the LIRR station improvement project involving Jacobs (NYSE:J) is anticipated in 2026.

What specific improvements will be made to the LIRR stations in the project managed by Jacobs (NYSE:J)?

The improvements managed by Jacobs (NYSE:J) include installation and rehabilitation of ADA-compliant elevators, escalators, ramps, platform and canopy replacements, as well as architectural and wayfinding upgrades.