Public-Private Partnerships in U.S. Transportation: Research Overview and a Path Forward

Abstract

Public-private partnerships (PPPs) are contractual relationships between government and industry to deliver facilities or service for public benefit. In the United States, existing transportation infrastructure is aging and new infrastructure is underfunded. PPPs are considered one way to help meet this looming need. Although PPPs have a long history, interest in modern PPPs is renewed. The current debate over PPPs lacks theory and research to support the various views of PPPs. Promoters say they bring needed financing, technology, management, and risk sharing to infrastructure development. Detractors say government agencies are better positioned to finance and own infrastructure and protect the public interest. The unique contribution of this paper is to provide the results of a national survey on the state-of-practice of PPPs in transportation in the United States, and to provide a comprehensive overview of research on U.S. transportation PPPs in the areas of economics, law, and public opinion. Additionally, a path forward is offered to help organize and guide research in U.S. transportation PPPs in the future.