November 2022 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.
To learn more about how we are helping transportation industry leaders find new opportunities in their market of interest, schedule a market opportunity workshop.
Industry Drivers
Our data team tracks new and updated industry drivers. Here are some recent drivers we have been following this month:
FRA Publishes Northeast Corridor Project Inventory, Laying Out Priorities for Intercity Passenger Rail Development on the NEC
Status: Effective
Organization: Federal Railroad Administration (FRA)
Summary: On November 15, 2022, the FRA published the inventory of projects in the Northeast Corridor (NEC). This railroad line serves 800,000 passengers daily and spans from Boston to Washington, D.C. The first NEC inventory pipeline includes 68 projects divided into 15 primary backlog projects and 53 capital renewal, improvement projects, and stations. The FRA is planning to invest up to $24 billion in intercity passenger rail service through the Federal-State Partnership for Intercity Passenger Rail Program. Some of the projects included in NEC inventory are; Baltimore and Potomac Tunnel Replacement, Bush River Bridge Replacement, Hudson Tunnel Project, and Cos Cob Bridge Replacement. FRA is planning to update the inventory every two years.
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CARB Approves Historic $2.6 Billion Investment - Largest to Date - For Clean Cars, Trucks, Mobility Options
Status: Proposed
Organization: California Air Resources Board (CARB)
Summary: On November 17, 2022, the CARB authorized a $2.6 billion investment focused on the transition to zero-emission transportation in the state. The initiatives include incentives for green trucks and buses, shared-mobility options such as bike- and car-sharing, and rebates for clean cars. The investments are part of a comprehensive strategy for improving air quality and reducing California's greenhouse gas (GHG) emissions. The funded projects include; $2.2 billion for zero-emission trucks and buses, $326 million in incentives for purchasing a clean car, and $55 million for green shared-mobility investments.
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CPUC Adopts Transportation Electrification Program To Help Accelerate Electric Vehicle Adoption
Status: Proposed
Organization: California Public Utilities Commission (CPUC)
Summary: On Nov 17, 2022, the CPUC adopted a five-year, statewide transportation electrification program. The CPUC has appropriated $1 billion for building out electric vehicles (EVs) charging infrastructure to help the state achieve its goal of zero-emission vehicles by 2035. Under the electrification program, 70% of the funding will be used for charging medium- and heavy-duty vehicles, while 30% will go towards light-duty charging at or near multi-unit dwellings. The program also provides rebates for customer-side EV charging infrastructure investments.
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Memorandum of Understanding on Zero-Emission Medium- and Heavy-Duty Vehicles
Status: Proposed
Organization: United States House of Representatives
Summary: On November 17, 2022, the Biden Administration signed the Global Memorandum of Understanding (MOU) at COP27 to support the transition of all medium- and heavy-duty vehicles (MHDV) to zero-emission vehicles (ZEV) by 2040. The Global MOU has set the interim target of converting 30% of all new MHDVs by 2030.
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House Passes Bill to Avert Rail Shutdown
Status: Proposed
Organization: United States House of Representatives
Summary: On November 30, 2022, the US House passed a bill to avert a rail shutdown due to workers strike. The House lawmakers approved two resolutions. The first forces four unions to accept their rejected contract, including wage increase and expanded health coverage. The second resolution amends the tentative agreement to include seven days of sick leave. The resolutions are pending senate approval before being sent to the president for signature.
Notable Projects
We track notable projects from the proposal stage to becoming effective. Here are some of the recent notable projects we have been tracking.
$4.4 Billion State Route 37 Corridor Improvements
Type: Highways, Freeways and Turnpikes
Status: Proposed
Organization: Solano Transportation Authority (STA)
Region: California
Summary: State Route (SR) 37 Corridor Improvement Project is part of the Final Overall Work Plan for Fiscal Year (FY) 2022-2023 and FY 2023-2024 drafted by Solano Transportation Authority (STA) on May 12, 2021. SR 37 runs along the northern shore of San Pablo Bay, connecting US 101 in Novato with Interstate 80 in Vallejo. The Project includes improvement SR 37 between I-80 in Solano County and SR 101 in Marin County to address Sea Level Rise and reduce congestion. Construction will start in 2023 and is expected to be completed by 2024, with total estimated cost of $4.424 billion according to STA.
Contact FirmoGraphs to See the Document
$740 Million SR-9/I-95 from South of Southwest 10th Street to North of Hillsboro Boulevard
Type: Highways, Freeways and Turnpikes
Status: Proposed
Organization: Florida Department of Transportation (FDOT)
Region: Florida
Summary: The Florida Department of Transportation (FDOT) has initiated a Project Development and Environment (PD&E) Study along State Route (SR) 9/I-95 from SW 10th Street to Hillsboro Boulevard. The purpose of the project is to eliminate various existing operational and safety deficiencies along I-95 between and including the interchanges at SW 10th Street and Hillsboro Boulevard, and also on SW 10th Street and Hillsboro Boulevard in the vicinity of I-95. Construction of the project is expected to commence in 2023 and is expected to be completed by 2027 with total estimated cost of $740 million.
Contact FirmoGraphs to See the Documentpo
$216 Million H Street Bridge Project
Type: Bridges and Tunnels
Status: Proposed
Organization: Department of Motor Vehicles, District of Columbia
Region: District of Columbia
Summary: This project funds the full replacement of the H Street, NE Bridget. The H Street Bridge spans over 1st Street NE, WMATA tracks, Amtrak tracks and platforms, and 2nd Street NE at Union Station. The bridge will accommodate the H/Benning Streetcar Line, allow for Amtrak to increase its train capacities at Union Station, and allow for development of the air rights above the tracks. The project is funded with both local and federal capital funds totaling $216 million. Construction of the project is expected to begin in 2023 and to be completed in 2028.
Contact FirmoGraphs to See the Document
Notable M&A
The following M&A transactions in the Transportation Industry stand out in the month of November:
What We Are Reading
Here are some recent articles our team has been reading:
- $1B Texas Harbor Bridge work resumes, completion delayed to 2025
- Connecticut releases final Capital Plan
- New Jersey Transit and North Jersey Transportation Planning Authority to use $43.6 million in CRRSAA funding to advance seven transit projects
- 2022 election results: Voters support 14 out of 19 transit ballot initiatives
- $5.7B Gordie Howe Bridge project to be delayed 8 months, S&P says
- Autonomous vehicle highway to open in Virginia
- CTA $1.8 billion budget for 2023 approved
- $16B Hudson tunnel project for Amtrak set to begin construction in late 2024
- Electric vehicle sales rise as registrations jump 57% through September
- COP27: EV sales strong, but more needed to bring down transportation emissions
- California Public Utilities Commission adopts five-year transportation electrification program
- Metropolitan King County Council approves 2023-24 King County budget
- Amtrak prepares for $1.5-billion Susquehanna River Rail Bridge replacement project
- Construction resumes on $2.4B Los Angeles Metro Purple Line
- STM releases 2023 budget
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 US 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.
Meetings in December 2022 and January 2023
- Progressive Railroading NRC Annual Conference & NRC-REMSA Exhibition - Jan. 4 - Jan. 7, 2023
- TRB Annual Meeting - Jan. 8 - Jan. 12, 2023
- ACPA World of Concrete - Jan. 16 - Jan. 19, 2023
- AASHTO Council on Rail Transportation Legislative Meeting - Jan. 31 - Feb. 3, 2023
Early Bird Registration
- Event: Forth Roadmap Conference
Dates: May 15 - May 17, 2023
Deadline for Early Registration: Jan. 16, 2023
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