As governments face mounting infrastructure priorities within a resource-constrained environment, leaders and practitioners have turned their attention to creative methods to meet fundamental needs. One such construct is the public-private partnership, an agreement between a private-sector entity and a government agency to collaborate on the delivery of a service or facility to the public.
While examples of public-private partnerships – or P3s – exist in the United States, the model’s diversity and flexibility can lead to a lack of clarity regarding the relative advantages.
An understanding of the merits and limitations of public-private partnerships would prove worthwhile for a state such as New Jersey, which has yet to authorize P3s for transportation and which houses the fifth-worst infrastructure in the nation.
Joining New Start New Jersey for this examination of public-private partnerships is one of the nation’s leading transportation experts, Robert Puentes, President and CEO of the Eno Center for Transportation.