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 by the Billings, Montana. Here are our observations.
In the CIP covering the 2024-2028 fiscal years, City of Billings, Montana detailed plans to spend $525.5 million on capital projects, a decrease of 4% from $547.8 million in its 2023-2027 CIP. The current CIP has 147 line items, compared to 134 line items in the prior CIP. The table below breaks down Billings’ planned capital spending by business area for its last two CIPs.
*Numbers are Rounded
Planned Spending Drops in Nearly All Business Areas
The City of Billings has six business areas, wherein five decreased their capital spending in the current CIP. Public Works, City Administration, and Parks and Recreation are business areas with significant changes. A decrease of 52% under the Public Works is due to the twenty-three removed projects worth $175 million; most of the projects are allocated in the year 2023. The decrease of 46% under the City Administration was due to the reduced project value in the five retained projects. The most significant drop is in the Law and Justice Center/City Hall project, which went from $12.3 million to $2.4 million in the current CIP. On the contrary, the Parks and Recreation area increased its capital spending by 76% due to adding nineteen projects worth $10.3 million, adding $47.6 million to the nine retained projects.
Significant Investments Planned for New Projects
Out of 147 line items in the recent CIP, two are notable and are valued at more than $50 million. The largest project is the Multi-Generational Community Recreation Center under the Parks and Recreation business area. This project will construct an indoor multi-generational community recreation center on public land next to Amend Park, including courts, aquatics, and ice facilities, costing $98.7 million. Another $60 million is planned under the Aviation and Transit category for constructing the Car Rental Parking Garage at the Airport for car rental companies with a smaller section for the public.
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.
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