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 City of Philadelphia, Pennsylvania. Here are our observations.
In the CIP covering the 2023-2028 fiscal years, Philadelphia detailed plans to spend almost $11 billion on capital projects, an increase of 15.9% from $9.5 billion in its 2022-2027 CIP. The current CIP has 566 discrete projects, compared to 584 projects in the prior CIP. The table below breaks down the City of Philadelphia’s planned capital spending by business area for its last two CIPs.
*Numbers are Rounded
Planned Increase Due to Additional Funding for Existing Projects
Planned spending in the Transit category increased by 54.5% to $1.9 billion. The nearly $675 million increase goes to existing projects such as the Southeastern Pennsylvania Transit Authority (SEPTA) Bridge, Track, Signal, Infrastructure Improvements, and SEPTA Station and Parking Improvements. These projects focus on improving transit infrastructure, vehicle vehicles, communications, and payment technologies, providing improved reliability and safety for Philadelphia riders throughout the city and region. In addition, the Rail Vehicle / Equipment Acquisition and Improvement Program to replace vehicles that have reached their useful life will be completed in 2023.
The Water category also has planned an increase of $537.4 million due to the additional funding for improving treatment facilities, conveyance and collector systems, and engineering and material support for 2022. Lastly, the 6% increase in Streets business area goes to paving or reconstruction of streets and American with Disabilities Act (ADA) Ramps and traffic control improvements.
Large Investments in Water Treatment Facilities and Bridges
The City of Philadelphia has three projects valued at more than $1 billion and two projects valued at more than $400 million. Out of those five projects, three belong to the Water category, which has the most significant funding. The largest single project is Treatment Facilities Improvement, worth $1.5 billion. This project improves the water and wastewater treatment plants, pump stations, and related Water Department facilities. Another $1.3 billion and $960 million are planned to improve the Collector and Conveyance system. The other two notable projects belong to the Transit category: the SEPTA Bridge, Track, Signal, and Infrastructure Improvements, worth almost $1.4 billion, and SEPTA Station and Parking Improvements, worth $447.3 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.