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Tuesday, October 28, 2008

About Public-Private Partnerships

This image is borrowed from the site of William H. Gordon Associates, Inc., based in Chantilly, VA, near Washington. D.C., which has pioneered in introducing PPP initiatives in Virginia. "You have to have a team built on complete trust,” says WGHA's chief operating officer Bob Woodruff. “These teams aren’t necessarily easy to find. You need to be able to work through the different scenarios and have confidence in your partners on all sides.”

Here is the comprehensive story for the SMPS Marketer I wrote about Public Private Partnerships, outlining the opportunities and challenges in this model of construction industry business development.

I wrote this piece before the most recent financial crisis changed some of the dynamics of funding and financing -- it is probably much harder than before to raise private funds to support infrastructure projects. Nevertheless, as governments seek to restore the economy through infrastructure spending, I expect that PPP opportunities will reemerge and become a primary driver for success in the industry.

Notably, especially in U.S. states with liberal PPP legislation (such as Virginia), if you are an enterprising architect, engineer, or contractor, you can take the lead in creating effective PPP initiatives on a regional level -- in essence, create your own opportunities.

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