NV5 Global, Inc. (NASDAQ: NVEE) reported its stock had fallen mid-morning Thursday. The company, a provider of technology, conformity assessment, and consulting solutions, announced today that it has been awarded a $17-million contract to support the development of a detailed statewide aerial photography and elevation database for the Commonwealth of Kentucky. The project supports Kentucky’s KyFromAbove initiative which provides geospatial information across the commonwealth to reduce GIS application development costs, promote data sharing, and add efficiencies to state agency processes that utilize geospatial data.
“We are pleased to continue our work with the Commonwealth of Kentucky to provide geospatial data that will support state and local government initiatives, as well as private sector development,” said CEO Dickerson Wright. “Opportunities to deliver statewide geospatial programs continue to grow as more states recognize the value of high-resolution imagery and lidar databases to support economic development and resource management.”
Under the two-year contract, NV5 will obtain natural color, digital ortho, and oblique imagery over the next two leaf-off data acquisition seasons. The base map developed under this contract will provide useful information to support water and natural resource management, land planning, and infrastructure development throughout the state.
According to Thursday’s news release, “The Company primarily focuses on six business verticals: utility services, infrastructure engineering, testing, inspection & consulting, buildings & program management, environmental health sciences, and geospatial technology services.”
NVEE shares shed 28 cents to $128.73.
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