 | |
 Parsons headquarters in Chantilly, Virginia | |
| Company type | Public |
|---|---|
| Industry |
|
| Founded | 1944; 81 years ago (1944) inCalifornia, United States (as Ralph M. Parsons Company) |
| Founder | Ralph M. Parsons |
| Headquarters | Chantilly, Virginia, U.S. |
Area served | Worldwide |
Key people | Carey Smith (CEO,chair andpresident)[1] |
| Revenue |  US$6.75 billion (2024) |
| US$428 million (2024) | |
| US$235 million (2024) | |
| Total assets | US$5.49 billion (2024) |
| Total equity | US$2.53 billion (2024) |
Number of employees | 19,600 (2024) |
| Website | parsons |
| Footnotes / references [2] | |
Parsons Corporation is an Americanmultinational technology-focused defense, intelligence, and infrastructure engineering firm. Founded in 1944,[3] Parsons is headquartered inChantilly, Virginia, and serves both government and private sector organizations in more than 30 countries.[4]
Parsons operates in two primary segments: Federal Solutions and Critical Infrastructure. The company provides services in various sectors includingcybersecurity,intelligence,defense,transportation,environmental remediation, andurban development.[5] As of late 2024, Parsons employs over 19,600 professionals worldwide.[6]
Parsons became apublic company after itsinitial public offering (IPO) in 2019. It was included in theFortune 1000 in 2020 and added to theS&P 400 in 2024.[7][8]
Parsons was founded byRalph M. Parsons in 1944.[3] Emerging at the end ofWorld War II, Parsons' location inLos Angeles, proximity to organizations such as theNaval Air and Missile Test Center,Air ForceWestern Development Division (WDD) andSpace and Missile Systems Organization (SAMSO),[9] and partnership with Aerojet Engineering,[10] enabled it acquire early developmental projects including electronics, instrumentation, ground checkout systems design, and engineering for aircraft, missiles and rocket facilities.[11][12]
In the early 1950s, Parsons efforts in oil and petrochemical process plants came into focus with design/build efforts supporting both Shell and Gulf Oil in Texas.[13][14] Parsons delivered systems that would also recover sulfur products for later use in industrial processes. Facilities came on line in 1952.[15]
In 1961, Parsons founded the Ralph M. Parsons Foundation. The foundation became entirely independent from the company in 1974.[16][17] Also in 1974, Parsons opened the first part of its headquarters in Pasadena.[18]
In 1985, Parsons finalized an Employee Stock Ownership Program (ESOP), allocating shares in proportion to employees’ salaries.[19] The ESOP program continues today.[20]
Parsons interest in bridge projects grew through the 1980s, 1990s, and 2000s leveraging credentials enabled by acquisition of firms including DeLeuw, Cather, and Company in 1977[21] and Steinman, Boynton, Gronquist and Birdsall (SBGB) in 1988.[22] These acquisitions brought experience and pedigree for design and/or refurbishment of iconic bridge structures including theMackinac Bridge (Steinman, 1957),[23]Tagus River Bridge,[24] andBrooklyn Bridge.[25] Parsons continues to provide inspection, maintenance, and upgrades for these bridges to this day.[26][27] The company has also secured numerous design, design-build, and/or construction management jobs delivering new bridges such as theTacoma Narrows Bridge (2007),[28]John James Audubon Bridge,[29]Windsor-Detroit (Gordie Howe) Bridge,[30] and theDon Welge Memorial Bridge.[31]
In April 1996, Parsons CEO at the time, Leonard Pieroni, was killed in a U.S. Air Force plane crash in the Balkans along with U.S. Commerce Secretary Ron Brown.[32]
In October 2004, Parsons sold its hydrocarbons focused business, Parsons E&C Inc, to Australian firmWorley.[33]
In 2012, Parsons developed the logistics strategy for movement of theSpace ShuttleEndeavour from Los Angeles International Airport to theCalifornia Science Center near downtown. The effort was completed at no cost to NASA or the science center and was delivered by a team of local consultants that contributed expertise and resources for the effort.[34] The activity brought to a close Parsons support for the Space Shuttle program; efforts that began in 1970 when NASA hired Parsons to perform an independent evaluation of facilities options for the Space Transportation System.[35]
In late February 2019, Parsons announced the move of its headquarters fromPasadena, California toCentreville, Virginia.[36]
On May 8, 2019, Parsons executed anInitial Public Offering of approximately $500 million on theNew York Stock Exchange under the symbol PSN.[37] When the transaction was conducted, Parsons returned to public status after leaving 35 years before to become a private, employed-owned company.[38]
On September 1, 2023, Parsons announced the move of its headquarters to Chantilly, VA.[2]
Discussing the company's business outlook in February 2024, CEO Carey Smith stated that the company believes it will continue to see strong demand for its solutions, including cyber, electronic warfare, signals collection, space, missile defense and critical Infrastructure protection given world-wide geopolitical outlook.[39][40]
1940s
Less than 2 months after Parsons was founded, they were hired to provide turnkey engineering, management, and oil well drilling services tothe great divide in Colorado, United States.
In 1948, Parsons began work to develop naval missile facilities atPoint Mugu Missile facility.[41] Also in 1948, theAtomic Energy Commission created theIdaho National Engineering Laboratory reactor so that it could conduct advanced nuclear experiments with civilian and military reactors. Parsons designed all facilities for test and support operations—including the largest cast-in-place concrete arch ever poured, a span of 3,000 feet.[42]
1950s
In 1952, the U.S. Army awarded Parsons a multi-year design and construction contract role for numerous laboratory and test facilities at theRedstone Arsenal inHuntsville, Alabama.[43]
In January 1953, Parsons began work on the construction of Turkey's first oil refinery near Batman, Turkey.[44]
Between 1957 and 1960, Parsons designed Port Arguello Launch Complex 1 under contract to the U.S. Navy to support the launch ofMIDAS andSAMOS programs usingAtlas missiles.[45] The facility was renamedLaunch Complex 3 when the Air Force assumed control of the base from the Navy.[46][47]
In 1958, Parsons began fabrication of electronics and instrumentation including miss-distance indicators for thePershingMedium Range Ballistic Missile.[48] In June 1959, Parsons was awarded a contract forTitan ICBM facility design to be constructed near Moses Lake Washington.[49]
1960s
In 1961, Parsons designed the installation plans for each of the 1,000Minuteman intercontinental ballistic missiles, which were used by the U.S. Air Force during theCold War.[50] In 1964, Ralph M. Parsons managed the design of theU.S. Treasury Philadelphia Mint expansion. Parsons created all construction and equipment specifications, oversaw construction, and prepared operations and maintenance manuals.[51]
In 1962, Parsons commenced design efforts as civil architect-engineer for theTitan III Integrate, Transfer, and Launch (ITL) launch complex atCape Canaveral Air Force Station.[52] Upon completion, the complex became known asLaunch Complex 40 andLaunch Complex 41. Features of the ITL design included theVertical Integration Building (VIB) and Solid Rocket Motor Assembly Building (SMAB).[52] The complex supported its first launch in June 1965.[53]
In February 1963, Parsons was contracted to design the Apollo Spacecraft Propulsion System Development Facility at White Sands New Mexico.[54] In 1964, Parsons created a technical and economic blueprint for theNorth American Water and Power Alliance (NAWAPA), specifically in the United States, Canada and Mexico. The plan outlined concepts to build an integrated system of dams, channels, tunnels, reservoirs, hydroelectric plants, and pumping stations. The plan ultimately did not move forward due to environmental concerns and cost.[55] In 1966, Parsons has served as general engineering consultant for theDC Washington Metro in Washington, D.C., which is a $11 billion, 103-mile rapid transit rail system connecting Washington, D.C., to its many suburbs.[56]
In 1968, Parsons designed and constructed the entire Honolulu Airport in Honolulu, Hawaii (which is now referred to as theDaniel K. Inouye International Airport), including a 12,000-foot runway on an offshore reef to minimize noise in Honolulu.[57] The runway is still used today. In 1968, Parsons began work to upgrade theFederal Aviation Administration (FAA) by providing plans, specifications, and standards to upgrade air traffic controls in 19 facilities.[58] Today, Parsons provides 24/7/365 technical support services in all nine FAA regions and two specialized FAA centers. Again in 2001, Parsons was the prime contractor to implement modernization plans for the national airspace system.[59]
1970s
In 1970, Parsons was hired by BP and ExxonMobil to perform engineering studies in Alaska to determine if the company could overcome the technical and logistical engineering challenges in Arctic oil production.[60] In 1971, Parsons and Union Oil Co. of California demonstrated an improved sulfur recovery process at Union's Los Angeles pilot refinery plant. Based on the proven capacity to extract over 99% of the sulfur contained in the waste gases, the company was contracted to construct a full scale plant to harvest sulfur for industrial uses and reduce pollution.[61]
Following arctic oil production study, Parsons was hired in 1974 as managing contractor for all oil and gas facilities for BP and Exxon's east side portion of Prudhoe Bay, Alaska.[60] Also in 1974, Parsons provided modernization and construction program services for the new construction on more than 100 major U.S. postal installations.[62] Parsons continues to provide services for theUSPS today.[63][64]
In 1975, Parsons was selected to transformYanbu, Red Sea in Saudi Arabia into a thriving, modern port complex. The company provided the master plan, design, and construction management services for this self-contained industrial city of more that 100,000 people that produces oil, gas, and petrochemical products used worldwide.[65] Continuing work in the middle east, Parsons won a contract to design, engineer, and manage the construction of multiple facilities forARAMCO's Saudi Arabian gas program.[66]
In October 1976, theFederal Railroad Administration awarded Parsons, as part of a joint venture, the Northeast Corridor Improvement Program contract, which was to provide a 456-mile, high-speed rail service between Boston, New York, and Washington, D.C.[67] In 1977, Parsons completed a 4-year design-build turnkey program to build the Jeddah Airport in Saudi Arabia (also known as theKing Abdulaziz International Airport).[65]
In 1978, Parsons developed facilities criteria for assembly, testing, and system support of the U.S. Air Force's MX missile system atVandenberg Space Force Base.[68] In addition, as a subcontractor toMartin Marietta, Parsons supported development of theSpace Shuttle ground system at Vandenberg.[69] Parsons support to the ground infrastructure development effort continued into the mid-1980s.[70]
1980s
In 1980, Los Angeles selected a Parsons joint venture to provide theHyperion Wastewater Treatment Plant with program management, advanced planning, conceptual/detailed design, construction management, and startup services on all of their solids- and gas-handling expansion projects.[71] In 1981, Parsons won a contract for the Petromin-Shell petrochemical design-build project, the company's largest petrochemical project ever, valued at $1.5 billion.[72]
In 1985, theLos Angeles Metropolitan Transportation Authority hired a Parsons joint venture to provide commuter rail services and construction management of what would become the MTA's Red Line.[73][74] Also in 1985, the U.S. Army Corps of Engineers selected Parsons to furnish design, systems integration, engineering, and procurement for the eightchemical weapons incineration plants throughout the continental United States.[75] In 1986, Parsons designed, engineered, and managed construction of theRed Dog mine air and sea ports along with the entire complex.[76]
In 1987, Parsons engineered, designed and delivered the Titan solid booster rocket test stand atEdwards Air Force Base in California.[77] The test stand facility was originally designed by Parsons in the early 1960s to support Saturn V engine testing.[78] Parsons rebuilt the facility again after a 1991 test failure of a Titan IV SRMU motor that caused significant facility damage.[79]
In 1988, Parsons was hired to expand theDulles (IAD) andRonald Reagan (DCA) airports.[80] Parsons also continued to oversee rehabilitation of theBrooklyn Bridge that had been started by bridge firm Steinman, Boynton, Gronquist, and Birdsall which had been acquired by Parsons that year.[25]
1990s
In 1992, thePort of Los Angeles selected Parsons to design the Pier 300 $60 million dry bulk terminal for international commodities such as coal and petroleum coke.[81] Also in 1992, Parsons provided engineering cleanup services to theDepartment of Energy for its uranium enrichment facilities in Ohio. The project was worth $125 million.[82] In 1993, TheSouthern Nevada Water Authority selected Parsons as PM/CM for their $2 billion capital improvement program to increase water capacity for the Las Vegas Valley.[83] The company continues to provide program and construction management services to SNWA most recently being awarded $150M contract in July 2023.[83]
In 1995, Parsons designed, engineered and managed infrastructure elements of theNational Ignition Facility's (NIF) construction.[84][85] This facility houses the world's most powerful laser.[86] Additionally in 1995, Parsons paid the U.S. $3.2 million to settle fraud claims, the settlement comes from allegations that Parsons knowingly overbilled the government on two Air Force contracts.[87]
In 1996, Parsons was awarded a contract by theUSAID to reconstruct Bosnia-Herzegovina, in the Balkans, after the war.[88] In 1997, Parsons began the structural rehabilitation and catenary designs that incorporated electrifying the railroad tracks of the Tagus River Bridge (also known asthe 25 de Abril Bridge) in Lisbon, Portugal.[24] The company continues to support bridge improvements and maintenance.[26]
In 1998, Parsons was hired by the U.S. Navy to manage UXO removal in Hawaii.[89] The unexploded ordinances had accumulated in the island ofKaho`olawe.[90] In 1999, Parsons completed the design for the New Baiyun Airport (now called theGuangzhou Baiyun International Airport) in Guangzhou, China.[91] Also in 1999, Parsons was selected to design theWoodrow Wilson Bridge.[92]
2000s
On September 19, 2002, Parsons was awarded a contract to design, build commission and operate theSavannah River Salt Waste Processing Facility (SWPF) in South Carolina by the department of energy.[93] In 2020, the company completed all steps to begin the treatment of radioactive waste at the facility.[94]
On October 8, 2002, Parsons proceeded on theTacoma Narrows Bridge, a design-build project, originally scheduled to be constructed in 55 months.[28][95] The bridge was completed and opened in 2007.[96]
In June 2003, a joint-venture team led byBechtel National, Inc. and Parsons Corporation was selected to destroy chemical weapons at theBluegrass Army Depot in Kentucky.[97] The final munition was destroyed in July 2023.[98]
In 2004, Parsons served as project manager to cleanup and restore Onondaga Lake in New York.[99]
The same year, a $29.5 million contract was given to both Parsons and Gilbert Southern/Massman Construction to redo a portion of theEscambia Bay Bridge nearPensacola, FL afterHurricane Ivan made landfall and knocked off 58 spans of the original bridge and misaligned 66 other spans. Traffic destined for the bridge was rerouted ontoUS 90 (exit 17 onI-10) for 2 months while construction was taking place, which caused severe traffic jams. The westbound bridge opened to traffic on October 4, six days ahead of schedule, while the eastbound lanes opened to traffic on November 20, 66 days after Ivan made landfall and 27 days ahead of schedule. Both contractors received $1.5 million in bonuses for the early completion.[100][101]
In March 2004, Parsons was awarded a contract for a $243 million project to build 150 healthcare centers inIraq.[102] This contract generated controversy when theUS Army Corps of Engineers terminated it, alleging Parsons' failure to perform and reassigning much of the remaining work to other contractors.[102]
In 2005, a Parsons led joint venture constructed the north terminal of theMiami International Airport.[103] The same joint venture (Parsons-Odebrecht) was awarded another contract for the airport to improve the baggage handling system.[104]
In 2006, in a joint-venture, Parsons provided the design review and program/construction supervision for the construction of theDubai Metro.[105]
2010s
In 2010, Parsons, in a joint-venture, completed the $575 million, LEED-silver-certified Tom Bradley International Terminal Improvements and Baggage Screening Systems Project atLos Angeles International Airport. Parsons was the construction manager for this project.[106] Parsons was also a part of the terminals update in 2006.[107] The company also played a role in post 9/11 Pentagon rebuilding efforts, providing program and construction management services.[108]
In 2011, in a joint-venture, Parsons completed construction on theJohn James Audubon Bridge in Mississippi.[29] The John James Audubon Bridge is the longest cable-stayed bridge in the Western Hemisphere and is also the first Design-Build project undertaken by theLouisiana Department of Transportation and Development.[109] On November 8, 2012, the bridge was awarded theDesign-Build Institute of America (DBIA) 2012 Design Excellence Award.[109]
In 2013, Parsons designed and managed construction for the earthworks, roads and water and wastewater inSaadiyat Island, Abu Dhabi, UAE.[110]
In October 2014, Parsons was awarded a contract by Tecon Investments to oversee major elements of theDubai Design District (D3).[111]
In April 2016, Parsons received a construction management contract from the Architect of the Capitol to support the restoration, maintenance and renovation of federal structures on the Capitol campus.[112]
In 2016, construction was completed for theWorld Trade Center Port Authority Trans-Hudson Transportation Hub (PATH). Parsons was responsible for the infrastructure group design of the project, as well as supervising the civil, geo-technical and environmental design of the project. It also oversees the installation of the project's communication and safety systems.[113]
On June 12, 2017, Parsons accepted the award for the Operational Efficiency Project of the Year from the California Transportation Foundation (CTF) for their Intelligent Transportation System work on the I-80 Smart Corridor Project.[114]
In 2017, Parsons worked with Abu Dhabi Airports Company as program manager for the Abu Dhabi International Airport expansion.[115]
In April 2018, Leidos selected Parsons for the lead construction role to revitalize the US Antarctic research base at McMurdo Sound,Antarctica in support of the National Science FoundationUS Antarctic Program.[116][117] In December 2019, it was announced that Parsons andLeidos Holdings Inc. had earned spots on a $4 billion contract to support the cleanup of a former nuclear weapons site in southern Washington state.[118]
2020s
In May 2020, Parsons was awarded the $61 million owner's engineer contract supporting construction of the newWindsor-Detroit (Gordie Howe) Bridge[30] In September of the same year, Parsons was awarded the Recovery of Airbase Denied by Ordnance (RADBO) contract by the Air Force. The contract calls for production and delivery of armored vehicles equipped to clear mines or unexploded ordnance from airfields using three-kilowatt ZEUS laser weapon.[119]
In December 2020, Parsons was awarded a four-year, $37 million competitively awarded contract by Naval Facilities Engineering Command Southwest (NAVFAC SW) to support rebuilding efforts at Naval Air Weapons Station China Lake.[120]
In May 2021, Parsons secured a contract with $185 million ceiling to deliver Integrated Solutions for Situational Awareness (ISSA) for Space Systems Command[121] In July, Parsons was awarded a seven-year contract from theMissile Defense Agency to continue work on the TEAMs Next contract to support the development of defense systems.[122]
In June 2022, theDefense Health Agency awarded Parsons a spot on a potential $10 billion multi-award contract for military medical research and development support.[123]
In 2023, Parsons was confirmed as the delivery partner forThe Line atNEOM, a 170 km linear city being built in Saudi Arabia.[124]
On July 7, 2023, U.S. officials announced that the final munition in the nation's obsolete stockpile of chemical weapons at theBlue Grass Chemical Agent Plant has been safely destroyed byBechtel National, Inc. and Parsons. The team used neutralization and explosive destruction to eliminate the munition.[98]
In March 2024, theNational Nuclear Security Administration awarded a contract to Parsons Government Services and SeaTech Global Security Solutions to counter the smuggling of nuclear technology on a global basis. The contract has a combined award value of up to $1 billion.[125] Also in March, the National Oceanic and Atmospheric Administration Office of Space Commerce selected Parsons Corporation to develop key elements of its civilspace traffic coordination system called theTraffic Coordination System for Space, or TraCSS. The systems integration contract has a period of performance of 2-years and a potential value of $27 million.[126]
In April 2024, Parsons secured a position on a $464 million contract with the United States Army Environmental Command (USAEC) for services involving hazardous waste, including perfluoroalkyl and polyfluoroalkyl substances (PFAS).[127]
In June 2025, Parsons announced a partnership with IBM in pursuit of opportunities stemming from the Federal Aviation Administration's plans to update and modernize the United States air traffic control system.[128]
Carey Smith serves as Chairwoman, President, and CEO of Parsons.[1] Matt Oflios serves as the CFO.[129] Parsons operates in two business segments: Federal Solutions and Critical Infrastructure.[2] Additionally the company performs international work especially in the Middle East in countries such as Saudi Arabia.[130][131]
The board of directors consists of 11 members.[132] As of March 2023, members include:
Companies acquired by Parsons listed by date of acquisition (incomplete list). Information is current as of May 2024.
In March 2004, Parsons was awarded a contract for a $243 million project to build 150 healthcare centers inIraq. By March 2006, $186 million had been spent, with six centers complete and accepted by theU.S. Army Corps of Engineers (USACE);, 135 centers only partly complete; and one was reassigned to another contractor.USACE progressively terminated the contract from September 2005 to March 2006, eventually requiring Parsons to complete a total of 20 centers, with the others to be completed by other contractors. The estimated cost for the completion of the other 121 centers was $36 million.[102] This led to Parsons and USACE disputing the degree to which the final 20 centers were completed.[159] A report by the Special Inspector General for Iraq Reconstruction cited problems, including "high turnover among government personnel... directions... given without agreement from the contractor... program managers' responsiveness to contractor communications, cost and time reporting, administration and quality assurance".[159]
In November 2011, Parsons Corporation was awarded a $138 million contract by Peninsula Corridor Joint Powers Board (PCJB) to design and install Communications-Based Overlay Signal System Positive Train Control (CBOSS PTC) as part of theCaltrain Modernization Program.[160] While physical installation had commenced by September 2013,[161] execution challenges resulted in missing the 2015 installation deadline.Caltrain contracted a third party review to assess the challenges that noted program execution issues caused by both parties.[162] By February 2017 and although much of the system had been installed (but not fully tested), Caltrain terminated its contract with Parsons for failure to perform and announced potential litigation.[163] Caltrain then separately approved a contract withWabtec to complete the PTC system.[164] Parsons maintained that its contract was wrongly terminated and that all issues and delays were beyond its control.[165] Parsons and PCJB filed lawsuits against each other seeking damages.[166] During early stages of litigation, Parsons and the PCJB determined that non-performance by a subcontractor on the program,Alstom, substantially caused the program delivery issues. With an agreement by Parsons to waive claims against PCJB and PCJB agreeing to assign all rights to recovery over to Parsons, they jointly sued Alstom for damages in September 2021.[167] After civil trial, judgment was finalized in September 2024 with Alstom ordered to pay monetary damages and interest of $135 million to Parsons for breach of contract obligations.[168] Alstom has filed to appeal the ruling.[169] Wabtec completed CBOSS PTC system installation employing 80% of the hardware and systems delivered by Parsons on the prior contract.[170]
| International | |
|---|---|
| National | |
| Other | |
