SP Plus Corporation

SP Plus Corporation, a publicly traded for-profit parking facility management and transportation services company headquartered in Chicago, Illinois, operates as a prime contractor (100% of recent awards) delivering parking space leasing, parking facility management, and vehicle parking payment services to federal civilian agencies on a full-and-open basis with no recurrence of set-aside categories.

SP Plus's federal footprint is dominated by General Services Administration leasing work. The top five customer agencies by potential value account for 45% of combined award value, led by GSA Public Buildings Service Central Office Office of Leasing (78 awards, $77 million combined potential value), the Department of the Treasury's Bureau of Engraving and Printing (19 awards, $15.3 million), and the Department of Health and Human Services Office of the Assistant Secretary for Administration (14 awards, $5.1 million). By award count, GSA also leads with 78 awards, followed by the Internal Revenue Service (46 awards, $475 thousand combined potential value) and the Drug Enforcement Administration (41 awards, $164 thousand combined potential value). The rankings reveal GSA's dominance in both volume and dollars, while smaller agencies like the IRS and DEA generate many small parking-support orders. SP Plus's concrete deliverables include recurring monthly parking space leases (typically 122 reserved spaces at the Federal Detention Center Philadelphia, 150 spaces at VA medical facilities in Chicago, 145 spaces at USDA headquarters in Washington, D.C.), off-site parking management at multi-story facilities (Bureau of Engraving and Printing Washington, D.C. location), and incidental parking payment services for government vehicles at commercial lots (7 vehicles at Federal Highway Administration regional offices).

SP Plus places the bulk of its federal work through five Basic Ordering Agreements (BOAs) issued by GSA. These BOAs serve as the primary vehicles for recurring task orders: BOA GS02B23519 carries 37 task orders worth $78.8 million combined potential value; BOA GS07B16067 carries 67 task orders worth $29.1 million; BOA GS08B13967 carries 74 task orders worth $21.8 million; BOA GS05B17601 carries 72 task orders worth $14.9 million; and BOA GS03B05386 carries 68 task orders worth $9.5 million. SP Plus also holds a single-award $2.8 million Blanket Purchase Agreement with the Bureau of Engraving and Printing running through November 2025, against which it has received multiple task orders for on-site and off-site parking management at the agency's Washington, D.C. location.

Recent representative prime contracts include a $2.22 million multi-year purchase order with the U.S. Fish and Wildlife Service (awarded July 2023, completing July 2028) for employee parking at USFWS headquarters in Falls Church, Virginia; a $1.78 million BPA call with the Bureau of Engraving and Printing (January 2025) reducing parking inventory from 750 to 500 spaces at the agency's Washington, D.C. facility; a $587.6 thousand definitive contract with the Department of Agriculture (July 2023, completing July 2025) leasing 145 parking spaces to replace spaces lost due to the South Building parking closure; and a $562.2 thousand definitive contract with the United States Mint (January 2023, completing January 2028) providing third-shift employee parking in Philadelphia.

Activity has remained relatively flat, averaging 13 awards per year over the past five years, with 13 awards in both 2023 and 2024. Only two awards (combined potential value $1.7 million) reach ultimate completion within the next twenty-four months, presenting minimal recompete exposure. Service Contract Inventory data shows SCI-reportable invoiced revenue of $5.3 million across three fiscal years (FY2022–FY2024): $2.2 million in FY2022 across 12.9 FTEs, $1.6 million in FY2023 across 8.5 FTEs, and $1.5 million in FY2024 across 13.8 FTEs. On federal service contracts captured in SCI, government-paid hourly rates ran a median of $69.10/hr, with rates ranging from $11.48/hr at the tenth percentile to $119.46/hr at the ninetieth percentile, reflecting a mix of entry-level parking attendants and management labor. SP Plus self-performed all reported SCI hours with zero subcontractor engagement. The corporate structure includes Central Parking Corporation as a named subsidiary. SP Plus operates as a pure prime on federal contracts with no sub-award activity in the recent award record.