Multi-year Initiative will Improve Traffic Flow and Safety, and Reduce Carbon Emissions Throughout Tampa, Florida Region
- Program leverages Iteris’ smart mobility infrastructure management expertise to support region’s goal of improving safety and mobility for all road users, while increasing sustainability.
- Arterial signal operations and management services will be provided for approximately 500 intersections across major corridors in Florida’s District Seven, which houses almost 20% of signalized intersections in the state.
- Deal represents continued demand for Iteris’ specialized consulting services in a key geographic market.
TAMPA, Fla. – March 16, 2022 – Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has been awarded a multi-year professional services contract of up to $5 million from the Florida Department of Transportation (FDOT) District Seven in Tampa, Florida for a regional smart mobility, safety and sustainability program, representing continued demand for Iteris’ specialized consulting services in a key geographic market.
FDOT’s multi-year regional arterial management project with Iteris supports its goals to significantly reduce countywide travel time, fuel consumption and greenhouse gas emissions, while improving safety, mobility, reliability, and overall travel experience for all road users, including vehicles, buses, bicycles and pedestrians. By reducing delays and stops on key corridors for passenger vehicles and heavy vehicles, the project will help reduce CO2 emissions and fuel consumption, which in turn will contribute to sustainable environmental and air quality improvements.
Under the terms of the multi-year contract, which extends and expands an earlier program, Iteris will provide arterial management services for approximately 500 intersections across major corridors in Florida’s District Seven, which houses almost 20% of signalized intersections in the state, with significant growth planned during the term of the contract.
Iteris will provide services including performance monitoring and reporting, traffic signal timing plan updates, development and implementation of incident diversion routes, citizen comment response and resolution, and regular field inspections for maintenance, with the aim of improving traffic flow, enhancing public safety, and decreasing stops throughout Tampa, St. Petersburg and Clearwater, the five-county area surrounding Tampa Bay.
“We are proud to continue to support FDOT’s goal of improving the safety and mobility of road users by leading this arterial management program,” said Pete Yauch, vice president and transportation systems management and operations practice leader, Consulting Solutions at Iteris. “This initiative represents the continued expansion of Iteris’ specialized consulting services in a key geographic market, and will ultimately help to increase the value and effectiveness of the region’s existing transportation infrastructure, while also improving safety, air quality and reducing fuel consumption.”
Iteris expects to commence the arterial management project immediately.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the success, impact, and benefits of the awarded contract and our services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to successfully perform the services on a cost-effective basis; government funding and budgetary issues and delays; adverse impacts related to performance timing; adverse impacts of general economic, political, and other conditions in the markets we address; and the potential impact of product and service offerings from competitors. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
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