Parsons: California’s Executive Budget Proposal Presents Another Historic Opportunity To Build Back Smarter
CENTREVILLE, VA. (January 28, 2022) – Parsons Corporation (NYSE: PSN) today highlighted the major infrastructure improvements outlined in California’s recent budget proposal.
With this budget, California is making a clear statement, positioning itself to be competitive to pursue significant federal investments from the Infrastructure Investment and Jobs Act. Further, the budget makes an historic state investment of over $20 billion in infrastructure-related projects to prepare and protect California communities from climate change. The transportation infrastructure package focuses on increasing mobility options for Californians through rail, transit and active transportation projects, equity-related investments to reconnect communities, and enhanced safety projects.
The budget proposal also includes major investments in transportation systems, resiliency, and a host of other priorities that align with Parsons’ areas of expertise.
“Investing in infrastructure modernization is key as states look to continued future growth and flexibility,” said Mark Fialkowski, president, mobility solutions for Parsons. “Our team, which has deep roots in California, looks forward to applying our nearly 80 years of innovation and experience across the entire infrastructure domain to help California build back smarter with more resilient and sustainable infrastructure solutions.”
Build Back Smarter means constructing roads and bridges with centuries-long lifespans in a way that leverages digital innovations. It means keeping sustainability top of mind when designing and building communities and installing smart systems to reduce traffic at intersections and improve pedestrian safety. It also means partnering with local communities to promote economic development and increase the overall standard of living.
Parsons’ experience and vision is well aligned with the priorities outlined today in the budget proposal, and includes but is not limited to:
- Transportation – The Budget includes a focus on “emerging opportunities” with $200 million to invest in demonstration and pilot projects in high carbon-emitting sectors, such as maritime, aviation, rail, and other off-road applications, as well as support for vehicle grid integration at scale. Also, the budget allocates $1.2 billion for port-related high-priority projects that increase goods movement capacity on rail and roadways serving ports and at port terminals, including railyard expansions, new bridges, and zero-emission modernization projects. Beyond goods movement, there is $2 billion to invest in high-priority transit and rail infrastructure projects. Parsons has delivered advanced, sustainable, and smart transportation solutions to California for decades, including supporting capital programs at Los Angeles International Airport, assisting with Communications-Based Train Control (CBTC) implementation for the Bay Area Rapid Transit District; and providing engineering services for Los Angeles County Metropolitan Transit Authority’s I-10 express lanes project.
- Clean Energy – The Budget includes $2 billion ($2.035 billion General Fund over two years, $1.5 million Energy Resources Programs Account in 2022-23, $2.6 million Public Utilities Commission Utilities Reimbursement Account ongoing) for a Clean Energy Investment Plan that will spur additional innovation and deployment of clean energy technologies in the energy system. Parsons has embraced the challenge of achieving a more sustainable future, and is helping to develop, design, and deploy the next generation of clean energy projects, including supporting the Department of Energy’s Ivanpah Project in Nipton, California; and providing engineering services for solar projects in California’s Eastern Municipal Water District.
- Water Resilience and Drought Response – Last year’s Budget included an historic investment of $5.2 billion over three years to advance water resilience and drought response. This investment provides immediate assistance to struggling communities and prepares for more severe, climate-induced drought and flood conditions in the long term. The current Budget proposal builds on this investment by including an additional $750 million one-time General Fund to support drought resilience and response. Parsons is a full-service partner in helping clients through water management challenges, delivering custom-tailored solutions to help sustainably meet the demands of growth and drought, including supporting upgrades and expansion of water reclamation or recycling facilities for Elsinore Valley Municipal Water District and the Inland Empire Utilities Agency.
To learn more about Parsons’ infrastructure capabilities, visit Parsons.com/critical-infrastructure/.
Parsons (NYSE: PSN) is a leading disruptive technology provider in the global security, intelligence, and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, connected infrastructure, and smart cities. Please visit parsons.com, and follow us on LinkedIn and Facebook to learn how we’re making an impact.
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