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Trump's Fast-Track Permitting Plan: Economic Growth or Environmental Risk?

2024-12-11 03:40:20.111000

AECOM leaders have expressed confidence in the infrastructure sector and the potential for permit reforms under President-elect Donald Trump. CEO Troy Rudd highlighted the bipartisan support for infrastructure funding following the November elections, which could significantly impact the company's operations and growth 3. AECOM's fiscal year 2024 revenue reached $16.1 billion, marking a 12% increase from 2023, with fourth-quarter revenue reported at $4.11 billion, up 7% year-over-year 3. The company's full-year profit soared to $402.3 million, a staggering increase of 627%, while fourth-quarter profit reached $172.5 million, up 577% 3. AECOM's backlog for the quarter was $23.9 million, reflecting a 3% year-over-year increase 3.

In addition to its financial performance, AECOM recently acquired EMPSi, which enhances its environmental permitting capabilities 3. Rudd anticipates that the new water and environment advisory business will double within three years, driven by the projected growth of the digital water market, estimated to reach $70 billion by 2030 3. This optimism aligns with the company's ongoing commitment to sustainability and innovation in its projects, which are crucial for addressing environmental challenges 8.

On December 11, 2024, Trump announced via Truth Social his commitment to expedite permit approvals for investments of $1 billion or more in the U.S. This initiative aims to attract large investors and stimulate economic growth by reducing regulations 1. Supporters, including Elon Musk, have praised the plan, while former Rep. Dave Brat emphasized the need to reclaim lost capital and improve education systems 1. However, environmental activists have expressed concerns over potential regulatory rollbacks, and the plan currently lacks details on implementation and specific regulations to be altered 1. Critics, including Georgetown law professor William Buzbee, argue that existing environmental regulations cannot be legally bypassed 2. Trump's choice for EPA head, Lee Zeldin, is facing scrutiny due to his lack of experience in environmental policy 2.

AECOM has been selected by NASA to provide environmental restoration and compliance services at facilities across the United States as part of the NASA Environmental Restoration and Compliance Contract (NERCC) 7. Under this five-year contract, AECOM will support environmental restoration activities, including sampling, investigations, risk assessments, and remediation 7. The company has over two decades of experience in PFAS (per- and polyfluoroalkyl substances) and will support NASA's PFAS-related investigation and remediation efforts 7. AECOM's 9,000 environmental professionals will collaborate to provide innovative solutions for NASA's remediation projects 7.

Jacobs Engineering Group Inc. has also been awarded a contract to provide environmental engineering and related services to NASA 6. The five-year contract, led by a joint venture that includes Jacobs, will focus on supporting safe and sustainable operations across various NASA centers and facilities 6. Jacobs will offer technical consultation, contamination detection, and sampling, along with human health and ecological risk assessments 6. The initiative includes supporting NASA in Environmental Justice and National Environmental Policy Act evaluations, environmental permitting, and compliance activities 6.

Perma-Fix Environmental Services, Inc. has been selected by the U.S. Department of Energy (DOE) Office of Environmental Management (EM) to participate in a 10-year, small business set-aside, multiple-award Indefinite Delivery/Indefinite Quantity (IDIQ) contract 5. The contract is for providing nationwide Deactivation, Decommissioning and Removal (DD&R) services for EM sites, the National Nuclear Security Administration (NNSA), Office of Naval Reactors (ONR), and the Office of Science (SC) 5. Perma-Fix's team is one of fourteen small businesses selected and will be eligible to compete for firm fixed price and cost reimbursement task orders with a maximum ceiling of $2 billion over a 10-year period 5.

Additionally, Perma-Fix Environmental Services, Inc. has been added as a member of the Russell 3000 Index, effective July 1, 2024 4. Membership in the Russell 3000 Index means Perma-Fix's automatic inclusion in the Russell 2000 Index as well as the appropriate growth and value style indexes 4. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes 4.

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