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BUSINESS NEWS FLUOR SELECTED AS FEMA’S EAST ZONE CONTRACTOR FOR ITS PUBLIC ASSISTANCE TECHNICAL ASSISTANCE CONTRACTS V Fluor Corporation announced that the U.S. Federal Emergency Management Agency has selected Fluor to provide recovery services under the Public Assistance Technical Assistance Contracts V (PA TAC V) for their East Zone region. PA TAC V supports FEMA’s distribution of public assistance following presidentially declared disasters or emergencies. The indefinite delivery/indefinite quantity contract has a one-year base period with four one-year option periods and is valued at up to $525.6 million. “Fluor has worked closely with FEMA for more than 25 years and our teams are currently on the ground in Florida and
Georgia supporting hurricane recovery efforts,” said Tom D’Agostino, Group President Mission Solutions. “We stand ready to work with FEMA in other locations where professional and technical services are required to help those in need in impacted communities.” PA TAC V is part of FEMA’s approach to align contractors with one of four geographical zones (Atlantic, East, Central and West) to provide more effective resource support. Each zone contract requires a broad range of professional services, including site inspection, field support, technical support of the Community Disaster Loan program, analysis and cost estimation. The East Zone encompasses FEMA Regions III & IV and consists of 14 eastern/southeastern states/areas and all FEMA Headquarters Task Orders.
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EZEQUIEL TOVAR, from page 1
company by a certified, AEC specific professional. Another added benefit is that the firm will have less debt on the balance sheet. This will put you ahead of many ownership transitions that happen in the AEC space. You may ask, how much money do I need to set aside? Starting now will help you build up the reserves you need so you won’t be caught unprepared. In order for you to invest your capital on the list above, there must be three things that come into play. You’ll need: 1. Capital to deploy. How do you get more capital? By demonstrating the indispensable value you offer to clients and doing quality work. If you do not have any leftover capital to deploy, then something’s not working. Generating sufficient free cash flow is crucial for the survival of a firm. If you do not have it, then you will be unable to invest in quality culture, marketing, and ownership transition planning. This will only limit your opportunities. 2. A shared vision. Owners must effectively communicate the vision of where the firm is going and explain with clarity how these capital allocation decisions will beneficially impact the rest of the firm. Explaining why may be difficult, but if the decision aligns with the core values/strategic plan of your firm, it must be done. 3. A process where results are measured under an objective view. This will empower you to show the results of your capital allocation decisions to your employees. Being transparent will help skeptics with buy-in. And, if your capital allocation decision isn’t panning out quite as you anticipated, you can course-correct without having deployed all your capital. Having monthly and annual reviews on the return on investment is key for capital allocation. Ezequiel Tovar is an analyst within Zweig Group’s ownership transition team. Contact him at etovar@zweiggroup.com.
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THE ZWEIG LETTER MARCH 18, 2024, ISSUE 1529
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