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The Value of Innovation in Toll Concession Projects(Comments Off)

March 4, 2015

Most discussions of the pros and cons of P3 concessions cite as benefits the availability of investment from new sources (e.g., pension funds and developer equity), shifting various risks (such as construction cost overruns) from taxpayers to investors, and ensuring proper maintenance over the life of the project, thanks to the long concession term. In […]

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The Self-Inflicted Infrastructure “Crisis”

We continually hear about an “infrastructure crisis” in the United States, a malady from which Virginia has not been spared. Talk of pot-holed streets, tottering bridges and crumbling highways invariably moves to talk about the need to spend more on infrastructure, which morphs into raising taxes — never by talk about paring back infrastructure that have outlived […]

Virginia House Bills Put Roads Over Rails

(Editor’s note: This article from’s Virginia Bureau on February 17th is reprinted because the idea that legislation needs to be passed to make sure the transportation funding’s top priority is congestion relief speaks volumes about what is wrong with government. This article highlights this legislation pending in the General Assembly.) RICHMOND, Va. — Arlington’s […]

A Level Financial Playing Field For P3 Projects

One of the perennial arguments raised against long-term public-private partnerships (P3s) for transportation infrastructure is that the financing cost will be higher, because revenue bonds issued by the private sector carry higher interest rates, since the interest on those bonds is taxable. If the same project were carried out by a government toll agency, the […]

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