NV5 Awarded $5 Million Bypass Project by Georgia Department of Transportation
Rhea-AI Summary
NV5 has secured a $5 million, five-year contract from the Georgia Department of Transportation (GDOT) to lead the Watkinsville Bypass project in Oconee County, Georgia. The project aims to connect SR 24 and SR 15, improving connectivity and traffic flow by rerouting trucks away from downtown Watkinsville. NV5 will provide comprehensive services including geomatics, environmental studies, roadway and bridge design, hydraulic analysis, traffic engineering, and right-of-way services. The bypass project emerged from a 2021 transportation study and is expected to contribute to regional development and transportation efficiency.
Positive
- Secured new $5 million contract with GDOT
- Five-year contract duration provides steady revenue stream
- Project demonstrates successful cross-selling of diverse services
Negative
- None.
News Market Reaction
On the day this news was published, NVEE declined 1.00%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOLLYWOOD, Fla., Dec. 23, 2024 (GLOBE NEWSWIRE) -- NV5, a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded a
“This award highlights NV5’s ability to effectively cross-sell our diverse capabilities, driving growth and reinforcing our reputation for delivering innovative, high-value solutions in the infrastructure sector,” said Alex Hockman, PE, CEO of Infrastructure at NV5. “We look forward to collaborating with GDOT to bring the Watkinsville Truck Bypass project to life.”
The Watkinsville Bypass is the result of a transportation study conducted in 2021 to determine a proposed route and impact on local traffic conditions. The bypass will improve connectivity and traffic flow by rerouting trucks away from downtown Watkinsville and will contribute to regional development and transportation efficiency in Oconee County.
About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com
Source: NV5 Global, Inc.
FAQ
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