Edison, New Jersey  --  Leadership and membership of the New Jersey Alliance for Action today announced the launch of the Public/Private Partnership Council of New Jersey.  PPPNJ’s mission is to identify, debate and implement new and creative ways to leverage private capital to aid in the funding of important public infrastructure projects critical to our state’s economy and quality of life.  At a time of declining public resources, Public/Private Partnerships (PPP) are a smart solution to address many public infrastructure needs that require substantial capital investment.

PPPs are commonly described as a government service or private business venture funded and operated through a partnership of government and one or more private sector companies.  Leveraging various funding options can directly address deteriorated or inadequate infrastructure or make possible critically-important capital improvements otherwise delayed for lack of public funding. “Such Partnerships create creative financing for capital projects and necessary services, giving the public more value for their tax dollars,” said Philip Beachem, president of the New Jersey Alliance for Action. 

The concept behind PPPs is not new.  In fact, there are many examples of how PPPs provided government with the flexibility to make challenging projects successful.  Over the past decade, transportation projects such as the Chicago Skyway; the Indiana Toll Road; the Dulles Greenway in suburban Washington, DC; SH 130 in Central Texas and, State Route 125 in San Diego, California, all were made possible through PPPs.

“Across the nation, Public/Private Partnerships have been successfully used to combine the resources and skills of the private sector and government for the public benefit,” said James Weinstein, Senior Vice President of AECOM Transportation, one of the PPPNJ corporate sponsors.  “As a former New Jersey Commissioner of Transportation, I know New Jersey’s substantial transportation infrastructure funding needs.  PPPs have the potential of helping New Jersey meet those challenges while protecting and enhancing the public interest.”

            PPP’s versatility and attractions are not restricted to transportation projects.  Partnerships between the private sector and government can provide resources for public libraries and schools, passive recreation areas as well as government grants and investments for technological innovations.

“Recently enacted legislation in New Jersey will open the door to exciting PPP opportunities” stated Kevin McCabe, Corporate Relations, NJ Regional Council of Carpenters.

Investment in public projects also provides an alternative to traditional investment vehicles. Some high net worth corporations, retirement funds and foundations have the ability to seek stable but lower annual returns over extended periods of time.  Many transportation PPPs have maturity dates up to 100 years.  To that end, PPPs provide stability and a measured return which can be more attractive in a volatile global economy.

More information about the Public Private Partnership Council of New Jersey can be found on our website: www.pppofnj.com.