Jacobs Selected by New York City Economic Development Corporation for On-Call Maritime Consultant Services Contract

Rhea-AI Summary

Jacobs (NYSE:J) has extended its 30-year partnership with the New York City Economic Development Corporation (NYCEDC) for an additional five years, valued at $20 million. The contract includes crucial maritime engineering consultative services related to inspection and maintenance management of city-owned maritime infrastructure. Jacobs is expected to enhance essential facilities, including cruise terminals and marine facilities for various city departments. With $14 billion in revenue and a workforce of approximately 55,000, Jacobs aims to support NYCEDC's waterfront infrastructure.

Positive

• Contract extension valued at $20 million enhances revenue stability.
• Continued partnership with NYCEDC fosters long-term business relationships.
• Involvement in essential infrastructure projects supports public services.

Negative

• None.

DALLAS, Feb. 25, 2021 /PRNewswire/ -- Jacobs (NYSE:J) was selected to continue their 30-year partnership with the New York City Economic Development Corporation (NYCEDC). The on-call maritime engineering consultant services contract, which includes inspection and engineering services for city-owned maritime infrastructure, was extended for an additional five years.

NYCEDC estimates the value of the contract at $20 million. The contract covers tasks which are critical to providing essential maintenance management services such as underwater inspection, rehabilitation and/or repair design, drone and GIS data collection, database and asset management services to support the Waterfront Facilities Maintenance Management System (WFMMS) database, and resident engineering services. Facilities include the Manhattan and Brooklyn Cruise Terminals, the Red Hook Container Terminal, city marinas, Fire Department of the City of New York and New York Police Department marine facilities, shorelines and beaches, coastal and resiliency structures, waterfront parks and the Greenway, and dredging and reclamation sites.

"We've accomplished a lot with NYCEDC. Together we developed and updated the agency's original Waterfront Facilities Inspection Guidelines, we've improved the city's maritime shipping structures, and supported NYCEDC's mission of exemplary management of their waterfront infrastructure," says Jacobs People & Places Solutions Executive Vice President, Ken Gilmartin. "We look forward to helping further improve the city's underwater and waterfront facilities and collaborating with NYCEDC to improve the quality of life for millions of city residents, workers and visitors."

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 $14 billion in revenue and a talent force of approximately 55,000, 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 Twitter.

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 October 2, 2020, 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 January 1, 2021, 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.

For press/media inquiries:
Kerrie Sparks
214.583.8433

 

 

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SOURCE Jacobs

FAQ

What is the value of Jacobs' contract with NYCEDC?

The contract is valued at $20 million.

How long has Jacobs been partnered with NYCEDC?

Jacobs has been partnered with NYCEDC for 30 years.

What services will Jacobs provide under the new contract?

Jacobs will provide maritime engineering consulting services, including inspection and maintenance management.

What facilities will Jacobs be working on?

Jacobs will be involved with the Manhattan and Brooklyn Cruise Terminals, city marinas, and marine facilities for the Fire and Police Departments.

What is Jacobs' annual revenue?

Jacobs has an annual revenue of $14 billion.