MANALAPAN, N.J., Nov. 28, 2017 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (OTCQB: SNPW) today announced the start of Sun Pacific Power’s contract with the city of Tallahassee, beginning the installation and maintenance of Solar Powered Bus Shelters and Transit Amenities at hundreds of locations across Tallahassee, Florida.
The contract is with Star Metro, the transportation authority in the State of Florida’s capital city Tallahassee, which currently generates transportation revenue of $20 to 50 million annually and employs a fluctuating staff of approximately 100 to 249. As the recipient of this ten (10) year contract, Sun Pacific is to provide street furniture and other transit amenities, including Sun Pacific’s solar powered Smart Shelters and benches throughout the city of Tallahassee, fixed routes on the campuses of Florida State University and Florida A&M University, and its unincorporated areas.
This ten (10) year agreement is a “win-win” for both the City of Tallahassee and Sun Pacific, constituting a joint-effort between the parties as they design and initiate the implementation plan. With close to 1,000 bus stops, the revenue generated by the Smart Shelters and benches will create a recurring stream through the sale of advertising space to both local and national companies, as well as the leasing of wi-fi signal boosters to national data providers. This will also boost revenues for the City of Tallahassee as it will be the beneficiaries of a revenue percentage, which will reduce the program’s overall costs and allow Star Metro the opportunity to budget and focus on other items benefitting the needs of its riders.
Sun Pacific Holding Corp. has several contracts with other municipalities, cities and locations, both within the State of Florida and in other states. These contracts allow Sun Pacific Holding Corp. to become a formidable player in the street furniture marketplace.
The Global Outdoor Advertising Market Report & Forecast 2017-2022 stated that the global outdoor advertising market reached a value of around $37.7 Billion in 2016, exhibiting a CAGR of around 5.4% during 2009-2016. This year, marketers will spend more than $400 million to put their messages on bus shelters and street benches alone.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (OTCQB: SNPW) uses management's knowledge and experience to serve its customers and now its shareholders through quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology. For more information, visit www.sunpacificholding.com .
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IR Contact Sun Pacific Holding Corp 215 Gordons Corner Road Manalapan, NJ 07726 Phone: +1 (888) 845-0242 Email: ir@sunpacificholding.com Website:www.sunpacificholding.com
