Pennsylvania Gov. Tom Corbett ceremonially signed a bill Wednesday that authorizes public-private partnerships (P3) for transportation initiatives in the commonwealth. These partnerships have the potential to strengthen the infrastructure of Pennsylvania and create jobs for Pennsylvanians, according to a statement issued by the Governor's office.
The Public and Private Partnerships for Transportation Act, authorizes public-private transportation projects in the commonwealth, allowing PennDOT and other transportation authorities and commissions to partner with private companies to participate in the delivery, maintenance and financing of transportation-related projects.
The act provides for a seven-member Public Private Transportation Partnership Board to examine and approve potential public-private transportation projects. If the board determines a state operation would be more cost-effectively administered by a private company, the company will be authorized to either completely or partially take over that operation.
“Our newly created board will look over the proposal and, if the numbers make sense for the taxpayers, we will allow that private entity to take on the job of administering the project,” Corbett said. “People are already taxed too much, so the question is, how can we reduce the overall cost so we can deliver more services with what we have? P3 opens the door to that solution.”
The board is comprised of the Secretary of Transportation as chairperson, the Secretary of the Budget, one member appointed by the governor and four members appointed by the General Assembly.
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