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 aaa conversations with their clients. We recently processed the latest capital spending plan by the City of Charlotte, North Carolina. Here are our observations.
In the CIP covering the 2023 - 2027 fiscal years, the City of Charlotte detailed plans to spend nearly $5.2 billion on capital projects, an increase of 19.4% from $4.3 billion in its 2022 - 2026 CIP. The current CIP has 268 discrete projects, compared to 278 projects in the prior CIP. The table below breaks down Charlotte’s planned capital spending by business area for its last two CIPs.
*Numbers are Rounded
Major Planned Increase Due to New Projects
Planned spending in Aviation increased by 66.1%, or close to $1.9 billion. The increase goes to new projects, including the Fourth Parallel Runway, valued at $916.9 million, and Concourse A Expansion Phase II, coming at $211.6 million. In addition, the Terminal Lobby Expansion is a significant project in this category, which decreased from $315.8 million to $36.4 million due to its near completion.
Newly added projects in the Charlotte Water category resulted in an increase in spending for the fiscal year 2023-2027. Some recent projects added are Major Water Main Replacement and Rehabilitation and Mallard Creek Wastewater Reclamation Facility (WWRF) Expansion and Improvement, worth $120 million each. Another notable change in the recent CIP is the removal of five business areas from the plan.
Large Investments in Aviation Category
City of Charlotte has four notable projects. The largest single project is the construction of the Fourth Parallel Highway, worth $916.9 million. Another $377.7 million is planned to construct Stowe Regional Water Resource Recovery Facility (WRRF) under the Charlotte Water category. The other two projects, valued at $237 million and $211.6 million, respectively, are the Minor Storm Water Projects under the Storm Water Services, and Concourse A Expansion Phase II under the Aviation category.
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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