FirmoGraphs keeps our clients up to date on capital plans that may contain leads for them. We help our customers use this information to gain a competitive advantage and improve proactive conversations with their clients. We recently processed City of Provo, Utah, latest capital spending plan. Here are the insights we observed.
In the CIP covering the 2022 - 2026 fiscal years, Provo plans to spend nearly $429 million on capital projects, a decrease of 2.7% from almost $441 million in its 2021-2025 CIP. The current CIP has 142 discrete projects, compared to 138 projects in the prior CIP. The table below breaks down the Provo’s planned capital spending by business area for its last two CIPs.
*Numbers are Rounded
Parks and Recreation and Water Spending Increased; Spending on Airport and Wastewater Reduced
The City of Provo’s most recent CIP plans to spend $36.4 million on Parks and Recreation, a 111% increase from last year’s planned spending with the Epic 100 Regional Sports Park valued at $20 million. Planned expenditure on Water projects has seen a $30 million increase, 71.5% of the previous period, because of the water plant treatment construction. A 56% decrease in Airport projects resulted from the Terminal Building and Terminal Area Landslide Improvements not included in the recent CIP. Funds under Wastewater projects were also trimmed by 16.2%, to $135.9 million.
Five Projects Valued at More than $20 Million
The current CIP contains 142 projects, with five projects valued at more than $20 million. Despite an overall decrease in Wastewater spending, there is an $87 million project to construct a new treatment plant and $32 million to install new sewer lines. Under the Water area, the $30 million water treatment plant gets the highest spending. Under the General Capital Improvement and Parks and Recreation, the replacement of public safety and city hall buildings and the Regional Sports Park are valued at $38 million and $20 million, respectively.
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.