Meeting Your Highway Transportation Needs Through P3s
Public-Private Partnerships or P3s are quickly becoming the new avenue of choice for meeting highway transportation needs. Recognizing that Florida’s infrastructure has not kept pace with its growth, P3s have the potential to increase the private sector role in achieving Florida’s transportation objectives while adding critical financial capital to expand Florida’s infrastructure.
P3s are contractual agreements formed between a public agency and private sector entity that expand the private sector’s role in public transportation projects where they had previously been restricted to performance on a fee for service basis. Public agencies determine the scope of the relationship based on their transportation needs, goals, and objectives. P3s are becoming so popular that the Federal Highway Administration (FHWA) even has a website dedicated specifically to defining and identifying the more common public-private partnership structures.