NV5 Awarded $15 Million California Transportation Infrastructure Contract

Rhea-AI Summary

NV5 (NVEE) has secured a $15 million contract for construction management services in the first phase of the North County Corridor project in Stanislaus County, California. The project aims to enhance regional mobility and reduce congestion through a partnership between local governments and Caltrans.

Phase one includes constructing a modern multi-lane expressway featuring a single-point urban interchange, pedestrian enhancements, and infrastructure improvements. The scope encompasses upgrades to local roads, construction of seven bridges, and mechanically stabilized embankment walls. Construction will commence in May 2025 with an expected three-year completion timeline.

Positive

• Secured $15 million contract for construction management services
• Project timeline clearly defined with 3-year completion schedule
• Strategic positioning in essential infrastructure improvements resistant to economic conditions

Negative

• None.

HOLLYWOOD, Fla., April 09, 2025 (GLOBE NEWSWIRE) --  NV5, a provider of tech-enabled engineering, certification, and consulting solutions, announced today that it has been awarded a $15 million contract to provide construction management services for the first phase of the North County Corridor project in Stanislaus County, California.

The North Country Corridor project consists of four phases designed to improve regional mobility, reduce congestion, and serve as a key driver of economic growth for the county, which produces four million tons of agricultural goods per year. This critical infrastructure initiative is the result of a partnership between Stanislaus Council of Governments, the cities of Modesto, Riverbank, and Oakdale, and the California Department of Transportation (Caltrans).

Phase one of the project includes the construction of a modern, multi-lane expressway that will feature a state-of-the-art single-point urban interchange, pedestrian-friendly enhancements, and a series of critical infrastructure improvements. This phase also includes upgrades to local roads and the construction of seven bridges and several mechanically stabilized embankment walls. Construction of phase one is set to begin in May 2025 and is expected to be completed in three years.

“NV5’s focus as a consultant on mandated services and infrastructure enhancements has positioned us well to compete on large-scale, essential infrastructure improvements that are not dependent on current economic conditions,” said Ben Heraud, CEO of NV5. “This award is a testament to NV5’s decades long relationship with municipalities and transportation departments responsible for the safety, reliability, and efficiency of public infrastructure, and we are pleased to contribute to the delivery of the North County Corridor project.”

About NV5

NV5 Global, Inc. (NASDAQ: NVEE) is a provider of technology, certification, and consulting solutions for public and private sector clients supporting utility, infrastructure, and building assets and systems. The Company primarily focuses on six business verticals: Utility services, infrastructure engineering, construction quality assurance, buildings & technology, environmental health sciences, and geospatial services. NV5 operates out of more than 100 offices nationwide and abroad. For additional information, please visit the Company’s website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.

Investor Relations Contact
NV5 Global, Inc.
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

Source: NV5 Global, Inc.

FAQ

What is the value and scope of NV5's (NVEE) new California transportation contract?

NV5 secured a $15 million contract for construction management services in the North County Corridor project's first phase, including a multi-lane expressway, seven bridges, and infrastructure improvements.

When will NV5 (NVEE) begin construction on the North County Corridor project?

Construction is scheduled to begin in May 2025 with an expected completion time of three years.

What infrastructure improvements are included in NV5's (NVEE) Stanislaus County project?

The project includes a multi-lane expressway, single-point urban interchange, pedestrian enhancements, seven bridges, and mechanically stabilized embankment walls.

How will the North County Corridor project benefit Stanislaus County's economy?

The project aims to improve regional mobility, reduce congestion, and support economic growth in Stanislaus County, which produces four million tons of agricultural goods annually.