Jacobs Engineering Group Inc. (NYSE:JEC) announced today that it has been selected by Chicago Public Schools (CPS) in Chicago, Ill. to provide Project Director services for the district’s $500 million capital improvement program.
Officials did not disclose the contract value, but noted that the duration of the contract is through December 2013 with three one-year renewal options.
Under the terms of the contract, Jacobs is providing management assistance to the district, including the development and establishment of processes and tools that facilitate communication between the Chicago Board of Education’s Department of Operations, other district departments, and the capital improvement program management team.
Jacobs also received a separate two-year contract from CPS to conduct physical building condition assessments for 281 of the district’s nearly 700 schools, which support an enrollment of approximately 402,000 students district-wide.In making the announcement, Jacobs Group Vice President Tom McDuffie stated, “These two contracts with CPS link the assessment and capital plan with the project execution team we currently have in place. We have a long-standing presence in the city of Chicago and are committed to helping CPS deliver safe, 21 st century learning environments designed for academic growth and excellence.” 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.
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