Local business enterprise joint venture completes transition of four landmark SFMTA parking contracts

By Impark : heralkdonline.com – excerpt

VANCOUVER, SEPT. 4, 2012 — /PRNewswire/ – Impark, one of North America’s largest parking operators, announced today it has completed the transition of four San Francisco Municipal Transportation Agency (SFMTA) garages into its management.  The five-year parking management contracts were awarded to Impark joint venture company IMCO parking in three phases over the past six months with the final transition taking place on May 1st, 2012…

All four contracts are to be managed by IMCO; a joint venture between Impark and Convenient Parking, an organization certified under the City’s LBE Program. “I am very proud to be working with Impark on these major projects” said Fred Bekele, owner of Convenient Parking.  “While we have partnered with Impark on various projects since 2005, the new SFMTA contracts are a tremendous opportunity for a developing local business such as ours”… (more)

Looks like the parking business is the fastest growng industry in San Francisco, unless we fight SFMTA and turn that around. How many local jobs do you suppose they are creating for the residents? How much of that money is staying in the local economy and how much is being sucked up by outside interests?