FirmoGraphs keeps its clients up to date on Statewide Transportation Improvement Programs (STIPs) 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 transportation improvement program from Florida. Here are the insights we observed.
In the STIP covering the 2022-2026 fiscal years, the State of Florida Department of Transportation (DOT) detailed plans to spend nearly $53 billion on transportation projects, decreasing 2.5% from $54.3 billion in the 2021-2025 STIP. The current STIP has 7,518 discrete projects, compared to 7,395 projects in the prior STIP. The table below breaks down the State of Florida DOT's planned capital spending by business area (districts) for its last two STIPs. The STIP is divided into 70 counties, further divided to 27 districts, but the table shows only the most notable ones.
*Shown TOTAL Value Depicts the Total Value of the Whole STIP *Numbers are Rounded
Most Significant Spending Increase in District 89; Decreases in Districts 2 and 6
Planned spending in District 89 increased by 43.3% to $2,938 million. The increase goes to existing and new projects. The Statewide Reserve For Strategic Intermodal System Support project increased by $586.8 million to enhance Florida’s transportation mobility and economic competitiveness. There are two new projects, the Statewide Interstate Resurfacing Program Target Box project and Widen Turnpike (State Road 91) - Obrien Road to US 27 project with $350.7 million and $121.5 million planned.
District 2 and District 6 cut their spending by 12.6% and 13.4%, respectfully. The decrease in District 2 is due to the existing projects that will be completed in 2022 including State Road 23 (First Coast Expressway) from East of County Road 16A (SPUR) to East of County Road 209 worth $743.8 million, and the Jaxport Channel Deepening & Widening project worth $292.3 million. For District 6, there are 486 completed projects and the Department of Transportation and Public Works (DTPW): South Corridor Bus Rapid Transit - Federal Transit Administration (FTA) Section 5309 project is the largest, worth $200 million.
One Project to Get More Than $1 Billion and 87 Projects to Get More Than $100 Million
Florida’s recent STIP has one project valued at more than $1 billion and 87 projects valued at more than $100 million. District 7 has the most significant single project, the Interstate 275/State Road 93 Fm S of State Road 60 to S of Lois, State Road 60 Fm S of the Interstate 275 to N of Memorial, worth $1.3 billion. Two projects valued at more than $500 million belong to District 89, the Statewide Contingency Fund and Statewide Reserve For Sis Support, worth $912.1 million and $796.5 million, respectively. District 15 also has a project worth $500 million, which is project by SIB State Infrastructure Bank. Currently, there are no details about this project.
How FirmoGraphs Can Help
FirmoGraphs curates data about U.S. public sector markets, including transportation improvement programs, regulatory developments, and other critical information. We help our customers use this information to gain a 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 improvement programs and other publicly available documents. Feel free to request a meeting and review the data live in our Business Intelligence platform.