FirmoGraphs keeps its clients up to date on capital plans of interest for long-term business development. We help our customers use this information to gain a competitive advantage and improve proactive conversations with their clients. We recently processed the latest capital spending plan from City of Austin, Texas. Here are our observations.
In the CIP covering the 2023-2027 fiscal years, Austin detailed plans to spend $7.7 billion on capital projects, an increase of 32.4% from nearly $5.9 billion in its 2022-2026 CIP. The current CIP has 1,565 discrete projects, compared to 1,495 projects in the prior CIP. The table below breaks down Austin’s planned capital spending by business area for its last two CIPs.
*Numbers are Rounded
Major Spending Increase in Aviation, Austin Convention Center
Planned expenditure in the Aviation business area increased by nearly $2 billion. The increase goes to several new major projects, including the Passenger and Utility Tunnel worth $448 million, Curbside Roadway Reorientation for Terminal Expansion, and Airport Expansion and Development worth more than $200 million each. Addition to new projects is the Barbara Jordan Terminal (BJT) Optimization, worth $107.2 million.
The Austin Convention Center also increased by nearly $1 billion, mainly due to the Expansion of the Austin Convention Center project, to support the return to pre-COVID levels of business at both the Convention Center and Palmer Events Center.
Lastly, the Austin Water category, the second largest area in the CIP, with $1.4 billion in planned spending, increased by $280 million from the prior period due to construction and water, wastewater, and water reclamation infrastructure improvements.
Nearly $300 Million Investment in Drainage Improvements
The City of Austin has four projects valued at more than $400 million. The largest single project is the Convention Center Expansion, worth $909.4 million under the Convention Center business area. This project will deliver a significantly more extensive and efficient facility that is community-centric and enhances the culturally rich fabric of the Palm District.
Other three notable projects belong to the Aviation category and are the the following:
- Arrival/Departure Hall: $468.3 million
- Concourse B 20 Gates: $451.1 million
- Passenger and Utility Tunnel (new project): $448 million
How FirmoGraphs Can Help
FirmoGraphs curates data about U.S. public sector markets, including capital plans, regulatory developments, and other critical information. We help our customers use this information to gain competitive advantage and improve proactive conversations with their clients. We’d be glad to meet with you and help your company sort through the wealth of information in capital plans and other publicly available documents. Feel free to request a meeting and review the data live in our Business Intelligence platform.