Transportation Public-Private Partnerships Soar to Record Levels

Wednesday, October 29, 2008

The number of public-private partnerships in the U.S. transportation sector has soared to record levels in recent years and continues to climb, according to a new study announced in late July by U.S. Transportation Secretary Mary E. Peters.

The new report, Innovation Wave: An Update on the Burgeoning Private Sector Role in U.S. Highway and Transit Infrastructure, found that more transportation public-private partnerships were completed over the last three years than in any other compatible time period in history. According to the report, more than 20 major highway and transit projects are currently being conducted in partnership with the private sector at various stages of development in the United States. Another finding shows that states and localities can reduce project costs, accelerate project delivery and transfer risks to the private sector while also protecting public-sector interests through well-balanced concession agreements, Peters said.