Summary: There is a growing funding crisis in transportation infrastructure in the United States due to the shortfall in public funds and the aging condition of these assets. At the same time there is an ongoing financial crisis and recession in the global economy. These crises are fostering a new importance for public‐private partnerships (PPP). PPPs can attract new funding sources and improve project delivery and timing, by utilizing innovative financing and integrated contracting methods. PPPs can vary from a simple design‐build contract to a privatization of a facility with many variations in between.
