March 2023 Transit 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 this month:
Status: Effective
Organization: House of Representatives
Summary: On March 9, 2023, the Federal Transit Administration (FTA) recommended that 18 large transit projects across 11 states receive $4.45 billion for construction as part of President Biden's Fiscal Year 2024 Budget Request to Congress. Nine of these projects will receive funding recommendations for the first time. In addition, the FTA has also allocated $1.1 billion in FY 2022-2023 funding to 31 transit projects nationwide. These projects will improve the way people travel in their communities and create and sustain jobs in construction and operations. The listed projects require a local funding match and are seeking funding through the FTA Capital Investment Grants (CIG) and Expedited Project Delivery (EPD) Pilot programs.
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Status: Proposed
Organization: U.S. Senate
Summary: On March 22, 2023, Democratic Lawmakers introduced the Sarah Debbink Langenkamp Active Transportation Act, which proposes an amendment to the United States Code concerning the highway safety improvement program to improve safety for vulnerable road users. The bill allows the connection of two or more segments of existing bicyclist or pedestrian infrastructure. It reduces safety risks to vulnerable road users through a project or strategy described in a program of projects. The bill also requires consistency with State strategic highway safety plans and makes certain projects and strategies eligible for federal funding. Additionally, the bill increases the federal share of certain highway safety improvement projects. The bill is named after Sarah Debbink Langenkamp and is called the Sarah Debbink Langenkamp Active Transportation Safety Act.
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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 2023-2027 fiscal years, City of Santa Clarita, California detailed plans to spend $178.3 million on capital projects, an increase of 27% from $140.2 million in its 2022-2026 CIP. The current CIP has 69 funded projects, compared to 43 funded projects in the prior CIP. The table below breaks down the City of Santa Clarita planned capital spending by business area for its last two CIPs.
The City of Santa Clarita has nine business areas, eight of which increased their planned capital spending compared to the previous CIP. A significant increase happened in Streets and Bridges due to three newly added projects, such as the construction of the Vista Canyon Road Bridge, worth $22 million. There are also five new projects under the Facilities and Buildings category, which resulted in a 603% increase in planned spending.
Out of sixty-nine projects in the current CIP, only one notable project is valued at more than $20 million, which is the Vista Canyon Bridge, belonging to the Streets and Bridges category and is valued at $22 million. The project will construct a new bridge providing access from Soledad Canyon Road to the future Vista Canyon Metrolink and bus transfer station over the Santa Clara River. It will also include a new two-lane bridge and intersection improvements.
Click Here to See City of Santa Clarita, California, CIP
In the CIP covering the 2023-2029 fiscal years, Reno-Tahoe International Airport, Nevada detailed plans to spend $781 million on capital projects, an increase of 124% from $348.8 million in its 2022-2028 CIP. The current CIP has 127 discrete projects, compared to 113 projects in the prior CIP. The table below breaks down the airport’s planned capital spending by business area for its last two CIPs.
Planned spending in the Terminal category increased by 152% to $344 million, funding going toward new projects such as Concourse Remodel Phase I worth $303 million, Concourse Remodel Phase II worth $165 million and Concourse Remodel (Design) with $52 million. The Landside business area also increased by 194% to $55 million due to combined Landside Projects worth $50 million. On the other hand, planned spending in the Reno Stead business area failed to secure an increase in funding due to projects’ completion in the previous period.
The current CIP has 5 notable projects mostly from the Terminal business area:
Click Here to See Reno-Tahoe International Airport, Nevada, 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. Also, 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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Forth |
2023-05-15 |
2023-05-17 |
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Airports Council International - North America |
2023-05-16 |
2023-05-18 |
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Rotaia Media |
2023-05-31 |
2023-06-01 |