FHWA PPP > Innovation Wave
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Defining PPPs and Their Benefits
This section provides a definition of PPPs that is consistent with the long-term, concession-based PPPs being used in the United States, and identifies the benefits of PPPs used both in the United States and abroad.
The Growing Use of PPPs in the United States
This section describes the unprecedented use of PPPs in the United States over the last few years, which is evidenced by: (i) the execution of long-term concessions for the operation and maintenance of existing toll facilities, (ii) the procurement of PPPs for the design, construction, financing, operation and maintenance of new transportation capacity and capital improvements, (iii) the growing number of states that are adopting legislation enabling PPPs, and (iv) the availability of more Federal programs facilitating PPPs.
PPPs Respond to Transportation Policy Failures
This section demonstrates that the growing number of PPPs in the United States over the last few years responds to failures of the traditional approaches to transportation funding and procurement.
Managing Risk in PPPs
While acknowledging that PPPs pose certain risks, this section demonstrates that these risks are manageable, and that properly structured PPPs can meaningfully reduce public sector exposure, as compared to traditional procurement approaches.
Glossary of Terms
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