The ABCs of P3s – An introduction to public-private partnerships
Abstract: One approach government agencies are exploring, to help meet the nation’s needs for new proposed infrastructure projects, is developing public-private partnerships. Under this model, a public entity engages a private partner, which in turn hires, supervises and pays the contractor. This article discusses the expected rise of “P3s” and how they could provide profitable opportunities for many construction companies in the near future. It’s important to know how they work. A sidebar looks at the bonding aspect of P3s.