Tetra Tech Awarded $17.8 Million Environmental Remediation Program at Former McClellan Air Force Base
PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NAS: TTEK) announced today that it has been awarded a $17.8 million contract with McClellan Business Park, LLC to perform environmental services for the privatized cleanup of portions of the former McClellan Air Force Base in California. The U.S. Air Force transferred portions of the former Air Force Base to McClellan Business Park prior to completion of remedial actions through a Findings of Suitability of Early Transfer. This is the third property transfer of its kind at the former base. Under this contract, more than 130 Installation Restoration Program (IRP) sites on over 600 acres will be evaluated, remediated, and closed, at which point the property will be available for development.
The former McClellan Air Force Base is one of the largest economic development and infill reuse projects in Northern California. The privatized cleanup and closure of IRP sites allows McClellan Business Park to continue its development of the property. When fully developed, it is estimated that some 35,000 jobs, over $6.6 million per year in local property tax revenue and $1.1 million per year in local sales tax revenue will be generated.
About Tetra Tech (www.tetratech.com)
Tetra Tech is a leading provider of consulting, engineering, program management, construction management, and technical services. The Company supports government and commercial clients by providing innovative solutions to complex problems focused on water, environment, energy, infrastructure, and natural resources. With more than 14,000 staff worldwide, Tetra Tech's capabilities span the entire project life cycle.
Any statements made in this release that are not based on historical fact are forward-looking statements.Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future.However, Tetra Tech's actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed.For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company's Form 10-K and 10-Q filings with the Securities and Exchange Commission.
Tetra Tech, Inc.
Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
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The article Tetra Tech Awarded $17.8 Million Environmental Remediation Program at Former McClellan Air Force Base originally appeared on Fool.com.
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