Parsons Wins $85M Agreement For New US Space Command HQ – What PSN Investors Need To Know

Parsons will oversee the development and delivery of a new command-and-control campus designed to support U.S. Space Command's operations.

• The 75-month agreement covers the planning, design, construction and operationalization of the new headquarters.
• The planned campus will span 950,000 square feet and support up to 1,800 personnel.
• Parsons said the project represents one of the Air Force's first uses of an Owner's Advisor delivery approach.

Parsons Corp. (PSN) stock was in focus on Tuesday after the defense and infrastructure contractor secured an $85 million agreement to provide comprehensive Owner's Advisor support for the progressive design-build development of the new U.S. Space Command's headquarters at Redstone Arsenal in Huntsville, Alabama.

The 75-month agreement, awarded by Army Contracting Command – Rock Island in coordination with the Air Force Civil Engineering Center, covers planning, design, construction and operationalization of the new command-and-control campus.

The company said the project will capitalize on synergies between its Federal Solutions and Critical Infrastructure portfolio.
PSN shares were trading marginally in green at the time of writing on Tuesday morning.

New Headquarters To Support Up To 1,800 Personnel

The planned campus will span approximately 950,000 square feet and support up to 1,800 personnel. The complex will include a command-and-control facility, a fusion center, a visitor control center, and supporting infrastructure designed for 24/7 operations in support of U.S. Space Command's national security mission.

What Parsons Will Do Under This Agreement?

Under the agreement, Parsons will serve as the Owner's Advisor and provide program and construction management support throughout the planning, design, construction, and operationalization stages.

The company will oversee project execution on behalf of the government, managing scope, cost, schedule, quality, and risk for the campus.

Project Uses Progressive Design-Build Approach

Parsons said the agreement will oversee one of the Department of War's largest progressive design-build initiatives to date. The company also said it represents one of the Air Force's first uses of an Owner's Advisor delivery approach and could provide an example for future use of that approach.

Martin Boson, president of Engineered Systems at Parsons, said the company's role will involve program management, technical expertise and mission-focused execution for the new command-and-control facility.

The company said the award further expands its defense infrastructure business by combining capabilities from its Federal Solutions and Critical Infrastructure portfolio.

Retail View On PSN Stock

On Stocktwits, retail sentiment around PSN remained in ‘Bearish’ territory over the past 24 hours, with message volume at ‘Normal’ levels.

PSN shares have dropped nearly 34% year-to-date.

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