DALLAS - Engineering firm Jacobs (NYSE:J) has been chosen by the Washington State Department of Transportation (WSDOT) to lead the design work for the SR 509 Stage 2 Completion Project, a significant transportation initiative in the state of Washington. The project is a key part of the Puget Sound Gateway Program and aims to enhance connections between Interstate 5, State Route 509, Sea-Tac Airport, and the Port of Seattle.
The SR 509 Completion Project is set to improve access to the airport and the port, easing travel congestion and bolstering links with manufacturing and distribution centers in the Kent Valley. Jacobs, alongside Guy F. Atkinson Construction LLC (Atkinson), will be responsible for the design and construction of the project, which includes five new bridges, one modified bridge, stormwater management facilities, and infrastructure to support active transportation such as walking and cycling.
Jacobs Senior Vice President Katus Watson highlighted the enduring partnership with Atkinson and their collective experience in delivering roadway improvements in Washington since 2005. The collaboration has been instrumental in previous phases of the Puget Sound Gateway Program.
Ranked second in Transportation by Engineering News-Record, Jacobs has a history of facilitating the development of major infrastructure projects worldwide. The company, with an annual revenue of about $16 billion and a workforce exceeding 60,000, offers a wide range of professional services across various sectors.
Atkinson, a company with nearly a century of experience in heavy civil projects, is recognized for delivering complex construction solutions. The SR 509 project continues their legacy of contributing to the nation's infrastructure development.
This news is based on a press release statement from Jacobs.
InvestingPro Insights
As Jacobs (NYSE:J) takes on the SR 509 Stage 2 Completion Project, investors and stakeholders may find it pertinent to consider the company's financial health and market standing. With a Market Cap of $17.28B and a P/E Ratio reflecting a value of 26.39, Jacobs demonstrates a stable investment profile. Notably, the company's Revenue Growth over the last twelve months as of Q2 2024 is reported at 8.46%, signaling a robust expansion in its operations.
InvestingPro Tips suggest that Jacobs is a prominent player in the Professional Services industry and operates with a moderate level of debt, which may provide a degree of financial flexibility as it embarks on large-scale projects like the SR 509. Moreover, the company has been profitable over the last twelve months, and analysts predict it will remain profitable this year. Such insights could be crucial for understanding Jacobs' potential to successfully manage and execute significant infrastructure projects.
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