U.S. highways are facing a perfect storm of infrastructure nearing the end of its design life, growing travel demand, and an increasingly unreliable revenue stream. By tapping into private capital, public-private partnerships (P3s) provide one tool to stretch existing state department of transportation (DOT) resources further.
Public-private partnerships provide many additional advantages. They help shift risk from taxpayers to the private sector. In the current inflationary environment, speeding up project delivery could reduce costs as well as bring innovation and new ideas to roadway construction. Finally, P3s provide long-term asset management and performance.
This how-to guide for implementing a highway public-private