In 1994, the Federal Highway Administration (FHWA) launched a major initiative to identify barriers to highway infrastructure investment and develop strategies to overcome them. Under the experimental "Test and Evaluation" program, designated as TE-045, FHWA sought proposals from states for alternatives to traditional financing approaches. The program produced an array of innovative financing techniques that increased the financial flexibility available to states. These new techniques move the transportation financing process from a single strategy of grant reimbursement to a diversified approach that provides new options for both the public and private sectors.
This brochure, which complements a detailed Innovative Finance Primer, highlights several of the techniques and strategies that have been advanced by the FHWA in partnership with the states and other transportation stakeholders. It also provides a list of resources, including publications, web sites, and expert technical assistance, that can help states and other project sponsors make use of these new techniques.
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