Source: US Dept of Transportation news release, Tuesday, July 22, 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 Department study, announced today by U.S. Transportation Secretary Mary E. Peters.
“This nationwide trend on the part of state and local governments is further proof that innovative approaches to financing and managing transportation are increasingly attractive compared to traditional tax and spend methods,” Secretary Peters said. “States and local governments across the country are recognizing public-private partnerships are an effective means to deliver transportation projects.”
The new report 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.