Business
Gatekeeper Comments on $108 Billion for Transit In $1.2 Trillion Infrastructure Investment and Jobs Act
(TheNewswire) Abbotsford, BC - TheNewswire – November 16, ...
About this update from Gatekeeper Systems, Inc.
[{"type":"text","content":"Gatekeeper Comments on $108 Billion for Transit In $1.2 Trillion Infrastructure Investment and Jobs Act\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Abbotsford, BC -\n \n \n TheNewswire\n \n \n –\n \n \n November 16, 2021 - Gatekeeper Systems Inc. (‘Gatekeeper’ or the\n‘Company’) (TSXV:GSI) (OTC:GKPRF) (FSE:1GK)\n \n \n a video and data solutions provider for public transportation\nand smart cities, applauds the signing of the $1.2 trillion Bipartisan\nInfrastructure Deal (BID), and comments on the Company’s transit\ninitiative.\n \n \n \n \n Following the signing of the BID, the U.S. Department\nof Transportation's Federal Transit Administration announced key\npriorities and historic funding amounts for public transportation.\nThe BID authorizes up to $108 billion, including $91 billion in\nguaranteed funding for public transportation – the most significant\nfederal investment in transit in the nation’s history. It will boost\ntransit funding for communities all over the country by an average of\n30% – helping communities address maintenance backlogs, modernize\nand expand. The new funding provided under the bill will help transit\nagencies reduce the current maintenance backlog by 15% and replace\nmore than 500 aging subway, light rail, and commuter rail cars. It\nwill further modernize the nation’s transit fleet by replacing more\nthan 10,000 fossil-fuel powered transit vehicles with cleaner electric\nor low-emission transit vehicles. Key priorities for public\ntransportation under the BID include safety programs, modernization of\ntransit infrastructure, transit vehicle replacement to greener\nvehicles, and equity investment to improve transit\naccessibility.\n \n \n \n \n In 2018 the Company made a strategic decision to focus\non the transit industry in addition to the school transportation\nindustry. In the ensuing period, the Company made notable progress in\ntransit which has resulted in over C$20 million in revenue,\napproximately C$19.5 million of which has been recognized up to August\n31, 2021, and included the following announcements:\n \n \n \n \n \n \n - April 2018 - C$1.7 million contract with SEPTA (the\n6th largest transit authority in the U.S.);\n \n \n \n \n - November 2018 – Contract with NFI Group to equip\n335 di...