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State DOTs have responded enthusiastically to the toolbox of innovative finance techniques developed in cooperation with U.S. DOT and FHWA. Since the TE-045 innovative finance initiative was launched in 1994, more than 100 projects in 42 states with a total construction value of over $7 billion have been approved to apply these techniques. And still more projects are being advanced with innovative finance techniques to address continued transportation funding challenges. Techniques have been applied individually or in combination, and a track record of success is evidenced by the case studies presented in this section.
The 10 case studies that follow illustrate the ways in which many of the innovative finance techniques described in this primer have been put into practice by the states. These case studies describe the financing challenge confronted by a state DOT on a particular project or program of projects, the solution afforded by innovative financing techniques, and the benefits resulting from application of the techniques. By classification of technique, these case studies are as follows:
Finally, a case study for Ohio is presented which highlights a combination of innovative finance techniques.
