The October 2024 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, as well as some interesting reads.
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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: Federal Railroad Administration
Summary: On October 7, 2024, the Federal Railroad Administration (FRA) announced the availability of $1 billion in grants for intercity passenger rail projects across the United States. This funding is part of a larger initiative to enhance and expand rail services, mainly through the Infrastructure Investment and Jobs Act. The grants aim to improve existing rail infrastructure, develop new rail lines, and create faster, more efficient passenger services, with a focus on connecting communities and improving regional mobility. The program seeks to boost economic growth, reduce traffic congestion, and promote environmental sustainability by encouraging rail as a cleaner alternative to cars and trucks.
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Status: Effective
Organization: California State Legislature
Summary: On October 21, 2024, California announced it is investing $4 billion in transportation infrastructure as part of a major initiative to improve train corridors, bridges, roadways, and walking and bicycle paths throughout the state. The California Department of Transportation (Caltrans) funding will support various projects to enhance mobility, safety, and sustainability. Key focus areas include:
The investment will also support the development of zero-emission transportation options to reduce the state's carbon footprint. These projects will benefit both urban and rural communities, ensuring more equitable access to transportation resources.
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Status: Effective
Organization: U.S. Department of Transportation
Summary: On October 24, 2024, the Biden-Harris administration announced a nearly $1 billion investment in transportation infrastructure to modernize the nation's infrastructure. This funding aims to improve transportation networks, create jobs, and enhance mobility across the United States. The money will be distributed to various projects focusing on modernizing roads, bridges, and transit systems, emphasizing safety, equity, and sustainability. The funding is part of the administration's broader strategy to revitalize the country's infrastructure through the bipartisan Infrastructure Investment and Jobs Act. The Department of Transportation will oversee the distribution of funds, which will support both urban and rural projects, prioritizing communities with historically underserved populations. The initiative is designed to reduce congestion, enhance environmental sustainability, and support economic growth. This investment underscores the administration's commitment to strengthening the transportation infrastructure as a critical element of the nation's future prosperity.
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Status: Effective
Organization: U.S. Department of Transportation
Summary: On October 29, 2024, the Biden-Harris administration announced a $2.4 billion investment to fund new rail projects across the United States, aiming to modernize and expand the nation's rail infrastructure. This initiative is part of the administration's commitment to improving transportation networks and addressing climate change by promoting cleaner, more sustainable travel options. The funds will support passenger and freight rail projects, including new high-speed rail lines, upgraded tracks, and improved stations. The bipartisan Infrastructure Investment and Jobs Act makes investment possible by focusing on expanding rail access in underserved communities and creating jobs. The projects will improve efficiency, reduce congestion, and provide millions of Americans more reliable and faster travel options. Additionally, the funding is expected to reduce carbon emissions by encouraging the use of rail over other, more polluting modes of transportation. The Department of Transportation will oversee the distribution of the funds, which will support rail projects across the country, emphasizing equity and sustainability.
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Status: Effective
Organization: U.S. Department of Transportation
Summary: On October 31, 2024, the Biden-Harris administration announced nearly $635 million to repair and replace 22 bridges across the U.S. as part of the Bridge Investment Program. This funding targets deteriorating bridges to improve public safety and support long-term infrastructure improvements. The projects are part of the administration’s broader effort to modernize transportation systems through the Infrastructure Investment and Jobs Act. The funding will benefit communities in various states and aims to reduce congestion and enhance safety.
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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 2025 fiscal year, the Raleigh-Durham International Airport detailed plans to spend $843 million on capital projects, an increase of 26% from $669 million in its 2024 CIP. The current CIP has 45 line items, compared to 39 line items in the prior CIP. The table below breaks down Raleigh-Durham International Airport’s planned capital spending by business area for its last two CIPs.
Planned spending in the Parking category increased by 211% due to the nearly $100 million expansion of Park Economy 3. The Terminal category also increased by 164%, funding the ongoing Terminal 2 Landside Expansion Program and the new T2 Airside Restroom Refresh, which includes demolishing and rebuilding airside toilet facilities with updated interior architecture and systems.
Raleigh-Durham International Airport has one line item over $100 million and three over $20 million. The largest is the Park Economy 3 Expansion, valued at $140 million, which includes a 7,000-space expansion of the existing facility, lighting, signage, bus shelters, a Customer Amenity Building (CAB) for law enforcement and parking operations, and enhanced security systems. Other notable line items include:
Click Here to See Raleigh-Durham International Airport, North Carolina, CIP
In the CIP covering the 2025-2029 fiscal years, the city of Temecula detailed plans to spend $406 million on capital projects, an increase of 25% from nearly $326 million in its 2024 CIP. The current CIP has 110 line items, compared to 104 line items in the prior CIP. The table below breaks down Temecula’s planned capital spending by business area for its last two CIPs.
Planned spending in the Circulation category increased by 41% because of the new Interstate 15/French Valley Parkway Improvements Phase IV project. Overall, the recent CIP increased due to the addition of 11 new projects.
The Interstate-15/French Valley Parkway Improvements-Phase IV is the most significant project, valued at $181 million, focused on enhancing the French Valley Parkway Interchange with a southbound collector/distributor road system and braided ramps. Next, the Phase III improvements at the interchange, costing $46 million, aim to complete the overcrossing and northbound onramps. The Cherry Street Extension & Murrieta Creek Crossing, valued at $38 million, involves extending Cherry Street to Diaz Road with a new bridge, pending engineering and environmental assessments. Lastly, the $25 million Murrieta Creek Bridge at Overland includes design and construction of a new bridge, along with necessary environmental studies and traffic signal installations.
Click Here to See City of Temecula, California, CIP
To stay abreast of industry marketing trends, we regularly review blogs of the nation's top consulting and construction firms. These are some notable customer-focused blogs in October.
Summary: On October 9, 2024, Jacobs published an article announcing that it has been selected by the Pennsylvania Department of Transportation (PennDOT) to provide engineering and technical support following the collapse of a section of Interstate 95 (I-95) in Philadelphia. The collapse, which occurred in June 2023, severely impacted traffic flow and posed significant logistical and safety challenges. Jacobs will assist in the design, planning, and reconstruction of the vital interstate, aiming to restore full functionality as quickly as possible. The project includes rebuilding the affected bridge and roadways, implementing traffic management solutions, and ensuring the resilience of the infrastructure against future incidents.
Summary: On October 17, 2024, VHB announced it has been selected to design the Greater New Haven Bus Rapid Transit (BRT) system, aimed at enhancing public transit in New Haven, Connecticut. The system will feature dedicated bus lanes, modern stations, and advanced traffic management to improve speed, reliability, and accessibility. VHB will provide planning, design, and environmental services, collaborating with local officials and stakeholders. The BRT is designed to address growing transportation demands and provide a more efficient alternative to traditional bus services. This project supports efforts to reduce congestion, improve air quality, and promote sustainable transportation. Expected to be completed in the coming years, the BRT will also boost the local economy by improving access to key areas and reducing travel times.