Project reduces congestion and increases sustainable transit options for residents and tourists in Washington, D.C.
DALLAS, Aug. 20, 2024 -- As a result of superior performance, Jacobs (NYSE:J) was awarded an extension as program management consultant for the District Department of Transportation (DDOT) DC Streetcar. Launched five years ago to expand transit service in the nation's capital, the electric fleet of streetcars connects communities and provides an environmentally friendly transit option.
The 2.4-mile DC Streetcar route serves a corridor of mixed-use development, including schools, restaurants, housing, historical landmarks and other community locations. As program management consultant, Jacobs supports DDOT's program implementation, including technical assistance; general engineering support; and stakeholder engagement with utilities, residences and businesses. The two-year extension expands Jacobs' scope of work to include oversight and management of operations and maintenance activities, on-site engineering services, safety and security planning and external communications.
"Reviving the streetcar in Washington, D.C. is not only a nod to the city's historic roots when streetcars were a vital transport option, but also a promise to its bright future," said Jacobs Senior Vice President Chrissy Thom. "Working as the District Department of Transportation's Program Management Consultant for over five years, we've enhanced mobility and connectivity, providing more opportunities for employment and attracting new business along the corridor. Our experience on similar global programs provides DDOT with a trusted advisor to keep the DC Streetcar moving into its next chapter."
D.C.'s streetcar history dates to the 1880s, when the city had a robust network of more than 200 miles of track, 16 route lines and multiple companies providing service before end of service in 1962. Today, with daily ridership reaching levels as high as 3,500 passengers, the new streetcar links D.C. neighborhoods with a modern, convenient and attractive transportation alternative.
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 Expo 2020 Dubai, which transformed over 1,000 acres into a lasting urban legacy; the Thames Tideway Tunnel program, which is cleaning up one of London's greatest natural assets, the iconic River Thames, and improving the quality of life for all Londoners; and redevelopment of Denver's iconic National Western Center into a sustainable, year-round destination for agriculture, education and entertainment.
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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