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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Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following in July:
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:
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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:
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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.
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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.
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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.
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.
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.
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
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.
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.
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
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.
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.
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
Here are some recent articles our team has been reading:
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.
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Name Organization |
Name Meeting Key |
Date Start |
Date End |
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American Road and Transportation Builders Association |
2023-09-10 |
2023-09-13 |