HOLLYWOOD, Fla., Sept. 26, 2017 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (Nasdaq:NVEE) ("NV5" or the "Company"), a provider of professional and technical engineering and consulting solutions, announced today that it was selected to perform full construction administration and construction management services for Merced County's $90 million Campus Parkway Project. NV5 will be responsible for managing the contractor and coordinating all stakeholders, including the County, Caltrans, the Merced Irrigation District, several utility companies, property owners, farmers, residents, and the traveling public. NV5's fee for these services will be approximately $14 million over four years.
The Campus Parkway is part of Merced County's Regional Plan to improve circulation between State Route 99 and the UC Merced Campus. The Parkway will also improve regional circulation on the east side of Merced County.
"The project will be split into two segments," explained NV5 Project Manager Bryan Kroeger, PE. "The first segment consists of a four-lane divided highway and bridge construction over State Route 140 and the Burlington Northern Santa Fe Railroad. The second segment also consists of several new miles of four-lane divided highway, as well as the construction of seven new structures, including two steel truss bridges. Both segments will require significant stakeholder coordination and Caltrans Oversight."
Dickerson Wright, PE, Chairman and CEO of NV5, said, "Merced County has been a longtime client. As our program management team in California has continued to complete award-winning roadway work over the years, we have been given more responsibility by the County, which we also believe can benefit greatly from our full suite of service offerings, both within our growing program management vertical and across other verticals."
About Merced County
Located in the San Joaquin Valley, Merced County enjoys close proximity to Yosemite National Park and the San Francisco Bay Area. While the leading industry in Merced County is the agricultural industry, which employs 33 percent of the County's workforce, the County has attracted a broad range of businesses in recent years due to efforts to promote a business-friendly environment and ample opportunities for development. In 2015 there were approximately 269,000 people living in Merced County, a number that continues to grow. To learn more about Merced, visit the County's website.
NV5 Global, Inc. (NASDAQ:NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, energy, program management, and environmental solutions. The Company operates out of more than 100 locations nationwide and abroad in Macau, Shanghai, Hong Kong, and Vietnam. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
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.
NV5 Global, Inc.
Lauren Wright, PhD
Director of Investor Relations