The July 2023 Transportation Market Recap is a recap of some of the most interesting and useful transit industry news from the previous month. It contains updates on industry drivers, notable projects, and recent mergers and acquisitions, as well as some interesting reads, and upcoming meetings and conferences.
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Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following in July:
IDOT FY 2024-2029 Proposed Highway & Multimodal Improvement Program
Status: Effective
Organization: Illinois Department of Transportation
Summary: In July 2023, the Illinois Department of Transportation (IDOT) released its six-year Highway & Multimodal Improvement Program (MYP) for improving the state's transportation system, covering the fiscal years 2024 to 2029. The program proposes to invest $40.99 billion in various modes of transportation, including roads, bridges, transit, rail, aviation, and marine. The MYP includes $28.6 billion for highway projects and $13 billion for multimodal projects. The program is based on the projected revenues from various sources, including $25.6 billion federal, $12.6 billion state, and $3.4 billion local funds, as well as the Rebuild Illinois capital program enacted in 2019. The MYP also considers the potential impacts of the federal Infrastructure Investment and Jobs Act (IIJA). In addition, the MYP aims to achieve the following goals:
- Preserve and maintain the existing transportation assets and improve their safety and performance.
- Expand and modernize the transportation network to meet travelers' and freight's current and future needs.
- Enhance the mobility and accessibility of all users and modes of transportation.
- Support the economic development and competitiveness of Illinois.
- Promote the environmental sustainability and resilience of the transportation system.
Click Here for More Information
H.R. 3935 - Securing Growth and Robust Leadership in American Aviation Act
Status: Effective
Organization: U.S House
Summary: On July 11, 2023, the General Assembly House passed H.R. 3935, the Securing Growth and Robust Leadership in American Aviation Act, to reauthorize and reform the Federal Aviation Administration (FAA) for the next five years. The bill covers various aspects of aviation, such as airport planning and development, facilities and equipment, operations, safety, research and development, and workforce development. Some of the main provisions of the bill are:
- Increasing air traffic controller hiring targets and extending aviation workforce development programs for pilots and mechanics.
- Establishing an FAA Ombudsman to coordinate the response to inquiries or objections relating to issues such as aircraft certifications and registrations, certificates, and operational approvals.
- Requiring air carriers to operate aircraft with cockpit voice recorders and cockpit video recorders and prohibiting aircraft dispatchers from working remotely, except for emergencies.
- Requiring air carriers to refund passengers with disabilities whose wheelchairs cannot be accommodated in the cargo hold and to seat young children next to an accompanying adult without charging an additional fee.
- Updating the requirements for testing and operating uncrewed aircraft (i.e., drones), including for drones operating beyond the visual line of sight.
Click Here for More Information
Committee Approves FY24 Transportation, Housing and Urban Development, and Related Agencies Bill
Status: Effective
Organization: U.S. House of Representatives
Summary: On July 18, 2023, the Committee discussed the FY2024 Transportation, Housing, and Urban Development budget, allocating $90.2 billion, 8.7% less than the president's request, to address housing and inflation. To fund this and GOP goals, some programs are cut, previously funded by the Infrastructure Investment and Jobs Act. Taxpayers' cost is $65.2 billion, offset by $25 billion from reduced Democratic IRS spending. This is 25% lower than FY23 and 34% below the president's request. $89.9 billion is for non-defense, and $388 million for defense. The bill reduces 19 grants by $8.4 billion, particularly DOT and HUD grants by 59% and 28% from FY23. $4.6 billion is for DOT grants, 59% less than FY23, excluding Community Project Funding. The bill also prioritizes transportation safety and funds DOT agencies responsibly.
Click Here for More Information
BRTB Votes to Approve Resilience 2050 Transportation Plans
Status: Effective
Organization: Baltimore Regional Transportation Board
Summary: On July 26, 2023, the Baltimore Regional Transportation Board (BRTB) adopted the Resilience 2050 long-range transportation plan, the 2024-2027 Transportation Improvement Program, and the associated Air Quality Conformity Determination. These plans allocate a projected $74 billion investment in the transportation infrastructure of the Baltimore region. The plans aim to address the challenges of climate change, population growth, aging infrastructure, and emerging technologies. The plans include investments in transit, bike, pedestrian, and freight facilities and policies to reduce greenhouse gas emissions, enhance equity, and promote economic development. Additionally, the plans were developed through extensive public engagement and collaboration with local, state, and federal partners. The BRTB will monitor the implementation and performance of the plans and update them every four years.
Click Here for More Information
Notable Capital Improvement Programs
Here are some recent, notable Capital Improvement Programs (CIPs). FirmoGraphs has deconstructed the CIPs into data elements, along with available project descriptions. Please feel free to request a meeting and review the data live in our business intelligence application.
Tulsa International Airport, Oklahoma, Planned Capital Program Decreased by 1%
In the CIP covering the 2024-2028 fiscal year, Tulsa International Airport, Oklahoma, detailed plans to spend nearly $100 million on capital projects, a decrease of 1% from nearly $102 million in its 2023-2027 CIP. The current CIP has 19 line items, compared to 24 line items in the prior CIP. The table below breaks down Tulsa International Airport’s planned capital spending by business area for its last two CIPs.
Decrease Due to Project Completed
The Tulsa International Airport has only one business area, the Airport category which decreased by 1% due to the completion of the Airport Traffic Control Towers Replacement project.
Nearly $60 Million Planned for New Projects
The Tulsa International Airport has one notable project valued at more than $25 million and two projects valued at over $10 million. The largest project is the construction of the Federal Inspection Services Facility, worth $28 million. Another $20 million is planned to rehabilitate portions of the airside pavements near the terminal building and cargo aprons. In addition, there is also a $10 million fund for the improvement of RSA Runway 18R/36L EMAS RW 36L.
Click Here to See Tulsa International Airport, Oklahoma, CIP
Virginia Railway Express Planned Capital Expenditure Increased by 40%
In the CIP covering the 2024-2029 fiscal years, Virginia Railway Express (VRE) detailed plans to spend $947 million on capital projects, an increase of 40% from $677 million in its 2023-2028 CIP. The current CIP has 31 line items, compared to 33 line items in the prior CIP. The table below breaks down the VRE’s planned capital spending by business area for its last two CIPs.
Increase Due to New and Existing Projects
Planned spending in the Rolling Stock Equipment business area had a significant increase of 213% to $297 million. The increase goes to the added project, Fleet Expansion Coaches, worth $195 million. The Passenger Station Facilities also increased by 23%, with increased funding towards existing projects.
Four Notable Projects Valued at More Than $400 Million
In the recent CIP of Virginia Railway Express, four projects are notable, valued at over $100 million. The largest project is the Expansion of Fleet Coaches under the Rolling Stock Equipment business area, valued at $195 million. The project includes the purchase of forty-four trailer coaches and four cab cars. Another two notable projects belong to the Train Maintenance and Storage Facilities category, the New York Avenue Midday Storage Facility and Broad Expansion, worth $116 million and $110 million, respectively. Lastly, $108 million is planned for the L’Enfant Station Improvements under the Passenger Station Facilities business area.
Click Here to See Virginia Railway Express CIP
Central New York Regional Transportation Authority, New York Planned Capital Expenditure Increased by 96%
In the CIP covering the 2024-2026 fiscal years, the Central New York Regional Transportation Authority detailed plans to spend $125 million on capital projects, an increase of 96% from nearly $64 million in its 2023-2025 CIP. The current CIP has 29 discrete line items, compared to 9 line items in the prior CIP. The table below breaks down Central New York Regional Transportation Authority, New York’s planned capital spending by business area for its last two CIPs.
Significant Decrease and Additional Business Areas
Central New York Transportation decreased its capital spending in the Syracuse area in the current CIP. The Syracuse area retained its seven line items from the previous CIP, with reduced values primarily allocated in 2023. The most significant decrease is $13 million or 26% on the Rolling Stock - Fixed Route Buses.
Notable Items Valued at more than $25 Million
In the 2024-2026 CIP of Central New York Regional Transportation, three items are notable and valued at over $25 million. The largest is under the Syracuse area worth $38 million, the Rolling Stock - Fixed Route Buses. The other two projects belong to the Projected Federal/State category: the Building Construction - Maintenance Facility in Onondaga County and Construction/Busway - Bus Transitway Lines/Busway in Oneida County, worth $30 million and $25 million, respectively.
Click Here to See Central New York Regional Transportation Authority CIP
What We Are Reading
Here are some recent articles our team has been reading:
- LA: RTA will buy 20 new electric buses after winning $71.4 million federal grant
- NY/NJ: Port Authority Bus Terminal replacement gets $65M infusion of cash
- CTC awards $2.2 billion to 181 projects across California
- Biden-Harris Administration Announces New, Streamlined Funding Application Process for Infrastructure Projects That Reconnect Communities
- US electric vehicle goals will require up to $127B to install 28M chargers by 2030: NREL
- DOE to release $2B in EV manufacturing grants
- PATCO begins $6 million rail project
- GCRTA to replace Red Line fleet with Siemens Mobility's S200 LRVs
- FTA approves Hudson River Tunnel project to enter Engineering Phase of CIG program
- Hawai’i will be first state to install federally-funded EV chargers, with others soon to follow: officials
- National Park Service receives $27.5 million FHWA grant for bus replacement
- Texas awards more than $95 million to rural and small urban transit agencies
- FL: Cost for Hillsborough-MacDill ferry route could top $76M, report says
- NJ Transit Board of Directors adopts FY24 operating budget, local programs budget and authorized capital funding
- FTA awards $20 million through Areas of Persistent Poverty Program
- Biden-Harris Administration Announces Nearly $21 Million in Grants to Improve Road Safety on Tribal Lands
Meeting Planner
In this over-digitized age, there is no replacement for face-to-face meetings with your prospects and customers! We track meetings of interest to our customers serving the U.S. transit industry so you won’t miss upcoming meetings and deadlines. Additionally, FirmoGraphs has recently implemented a free-of-charge service for tracking notable infrastructure events.
Meetings in August and September 2023
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Name Organization |
Name Meeting Key |
Date Start |
Date End |
|
American Road and Transportation Builders Association |
2023-09-10 |
2023-09-13 |
Early Birds Registration
- Event: APTA Transform Conference and Expo
Dates: Oct. 8 - Oct. 11, 2023
Deadline for Early Registration: August 25, 2023