John Hennessy III,
P.E.
…a huge problem is looming. Construction and engineering firms are already loudly proclaiming that they cannot find enough workers. There is a critical shortage of trained construction workers throughout the U.S. and Trump’s immigration policies will deplete the inadequate pool of workers significantly.
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…there’s not much news about P3s in smaller cities or in rural areas. That is about to change. As public officials in less populated parts of the country lament that the projects they need to launch are not large enough to capture the attention of investors or experienced contracting partners, some of their counterparts are forging ahead.
View this complete post...In the months leading up to the presidential election, Donald Trump announced that, if elected, he would incentivize $1 trillion into the nation’s ailing infrastructure. Citizens, taxpayers, public officials and contractors have been waiting to see if that would really happen or not. President Trump recently announced that he had selected private-sector P3 expert David James “DJ” Gribbin to serve as his special assistant for infrastructure. It was a big announcement and one that caused people to ask…will it really happen? Maybe so!
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Operational inefficiencies, passenger congestion, limited retail, access in and out of terminals and the negative passenger experience found in almost every U.S. airport is the result of outdated design, increasingly high demand, a lack of funding investment and a tendency to reject the concept of collaborating with private-sector experts. That, however, is changing.
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Written by Mary Scott Nabers President and CEO, Strategic Partnerships Inc. Hampered by outdated systems and infrastructure in need of repair, the John F. Kennedy International Airport in New York City has found a friend in New York Gov. Andrew Cuomo. The forward-thinking governor this week announced his $10 billion plan to redevelop the JFK […]
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Last week, DOT announced another groundbreaking financial tool – a product of the Build America Bureau – and provided an example. The Central Puget Sound Regional Transit Authority (Sound Transit) and the Build America Bureau signed a pioneering, first-of-its-kind Master Credit Agreement (MCA). The agreement lays a foundation for working together to initiate four transit projects in the Seattle area. The projects, now that they are consolidated, will be eligible to receive close to $2 billion in financing. As a result of the MCA, the Build America Bureau will be able to close one deal that covers multiple projects.
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It would be wonderful – and significantly helpful – if taxpayers and public officials showed an outpouring of support for rebuilding the nation’s infrastructure. Congressional representatives need to know, without doubt, that there is home-town support for this. Without seeing support from constituents, it’s possible that the program could get delayed long enough to die a sad death. If that happens, the U.S. will remain vulnerable in the race for global leadership… and thousands of jobs that could have been created will be remembered only as “what might have been.”
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Written by Mary Scott Nabers President and CEO, Strategic Partnerships Inc. After the November election, infrastructure reform is one of only a few topics that can be discussed with civility. However, that doesn’t mean there aren’t conflicting opinions about how to fix the problems. President-elect Donald Trump has promised to infuse $1 trillion into infrastructure […]
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Written by Mary Scott Nabers
President and CEO, Strategic Partnerships Inc.
Public pension funds represent about 18 percent of American-based institutional investment in infrastructure. And, at the end of the first quarter of this year, the number of public pension funds investing in unlisted infrastructure funds rose 12 percent from last year and 76 percent from five years ago.
Texas A&M University recently announced plans to expand its student housing capacity by more than 3,400 beds with a unique agreement between public and private partners worth over $360 million. The announcement is similar to dozens just like it throughout the country. Student housing on university campuses is an extremely large, growing marketplace and most of the new projects are collaborative efforts called public-private partnerships (P3s).
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