The Growing Number of Public-Private Partnerships
There’s been an increase in the number of P3 projects across the country. “More local and state governments are tapping private dollars to build, repair and maintain public infrastructure,” writes Hilary Russ of Reuters News Service. There are several noteworthy projects mentioned by Russ, who points out that the Keystone State is a busy place for P3 collaborations. “Pennsylvania is pushing to replace at least 500 bridges under a single contract in the next five years.” Another huge project straddles Ohio and Kentucky. “The $2.36 billion Ohio River Bridges project will construct two spans between Indiana and Kentucky, writes Russ. “Indiana is using a P3 approach to build one of the spans because the state allows such deals. But Kentucky, which has no such law, is using traditional public financing.” This should make for complex negotiations as vendors are hired.
