Jacobs Receives Contract for Capital Improvement Program in Atlanta School District
PASADENA, Calif.--(BUSINESS WIRE)-- Jacobs Engineering Group Inc. (NYS: JEC) announced today that it was hired by the Fulton County School District in Atlanta, Ga. to provide overall program management services for the district's 2012-2017 capital improvement program.
Officials did not disclose the contract value, however did note that the one-year contract has options for four one-year renewals.
Under the terms of the contract, Jacobs is managing the delivery of multiple-site remodeling, renovations, additions and new construction projects under the capital improvement program. Approved Special Purpose Local Sales Tax funds, in conjunction with the State of Georgia's Capital Outlay program, are anticipated to fund approximately $841 million in capital need, of which $511 million represents actual building projects.
In making the announcement, Jacobs Group Vice President Tom McDuffie stated, "We are delighted to serve in such an integral role on the District's capital improvement team, and are committed to helping them deliver the best possible learning environments for the children who attend school in Fulton County."
Patrick J. Burke, Deputy Superintendent of Operations for the District, added, "We selected Jacobs because of their A+ team, proven record of success, and unique approach to K-12 construction program management. Their strategy provides flexible resourcing of staff based upon the changing needs within a five year capital program while ensuring continuity of the effort through highly qualified construction team leaders."
Fulton County School District is the fourth largest public school district in the state of Georgia with over 100 schools supporting an enrollment of approximately 93,000 students.
Jacobs is one of the world's largest and most diverse providers of technical, professional, and construction services.
Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management's current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements. For a description of some of the factors which may occur that could cause actual results to differ from our forward-looking statements please refer to our 2011 Form 10-K, and in particular the discussions contained under Items 1 - Business, 1A - Risk Factors, 3 - Legal Proceedings, and 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations. We do not undertake to update any forward-looking statements made herein.
Jacobs Engineering Group Inc.
KEYWORDS: United States North America California Georgia
The article Jacobs Receives Contract for Capital Improvement Program in Atlanta School District originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.