President Obama Announces Creation of Build America Investment Center to Increase Traction in Public-Private Partnerships
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President Obama announced on July 17th 2014 the creation, by executive order, of the Build America Investment Center. The order encourages public-private partnerships by launching a "one-stop shop" for cities and states in the United States seeking financing options and private-sector partners for transportation infrastructure projects.
AUSTIN, TX, July 18, 2014 - The case for public-private partnerships (P3s) in America just got stronger. Cities and states in the United States will now have a "one-stop shop" as they seek financing options and partnerships with private-sector partners for transportation infrastructure projects. United States President Barack Obama announced on July 17th 2014 the creation, by executive order, of the Build America Investment Center. The order seeks to increase infrastructure investment and partnerships between government and private-sector firms to meet the country's growing infrastructure needs.
"I am elated about this action," said Mary Scott Nabers, president and CEO of Strategic Partnerships, Inc. (http://bit.ly/1rnuATP), and an expert on P3s. "public-private partnerships should absolutely be an alternative funding option and I believe they should be encouraged."
Nabers, author of Collaboration Nation, said there is an abundance of investment interest in P3s from private-sector companies, pension funds and investment bankers. "In spite of the fact that we have critical infrastructure needs, most public officials are reluctant to lead P3 engagements because of their inexperience in this area. The Center will meet many of their needs. Not only will this be a great thing for America, it will create thousands of new jobs."
The Build America Investment Center is part of the President's new Build America Transportation Investment Initiative. He, too, sees the center and his other transportation-related initiatives as both an investment in the nation's transportation infrastructure and an investment in job opportunities for Americans.
The center will be located within the U.S. Department of Transportation (DOT). It will provide a "Navigator Service" to make DOT credit programs more accessible and easier to understand for state and local government officials while providing assistance and resources for private-sector developers and investors.
Best practices from other states and countries that have been successful in P3 engagements will be shared. Information will be available about DOT credit programs, case studies on successful P3 projects and how deals are structured.
Obama said current transportation funding shortages at all levels of government have left the door open for alternative funding options. This initiative is aimed at encouraging collaborative efforts between state and local governments and private-sector investors.
In addition to the transportation investment center, the order also calls for a working group that will be charged with expanding the use of P3s beyond the transportation industry. They will work with stakeholders to address barriers to private investments and partnerships in such areas as water, ports, harbors, broadband and the electric grid. There will be an infrastructure investment summit hosted by the U.S. Treasury Department in September. Project developers, institutional investors and government officials will gather to discuss innovative infrastructure financing possibilities.
Obama notes that investors are eager to invest in this country, both domestic and international firms. He pointed out that the United States was the top destination for foreign direct investment last year with more than $230 billion. The global investment community has a "growing appetite for infrastructure," said the President.
About the Company Strategic Partnerships, Inc. (SPI) is a full-service procurement consulting firm. SPI is recognized as a pioneer in the business of partnering public and private entities for commercial purposes. SPI was founded by Mary Scott Nabers, a published expert on Public-Private Partnerships (P3s). For more information, contact SPI at 512-531-3900 or by visiting http://bit.ly/1rnuATP
Press Contact: J. Lyn Carl Strategic Partnerships, Inc. Barton Oaks Plaza One, Suite #100 901 S. Mopac Expressway Austin, Texas 78746 512.531.3900 http://www.spartnerships.com/
Rate this! 1-5 stars"I am elated about this action," said Mary Scott Nabers, president and CEO of Strategic Partnerships, Inc. (http://bit.ly/1rnuATP), and an expert on P3s. "public-private partnerships should absolutely be an alternative funding option and I believe they should be encouraged."
Nabers, author of Collaboration Nation, said there is an abundance of investment interest in P3s from private-sector companies, pension funds and investment bankers. "In spite of the fact that we have critical infrastructure needs, most public officials are reluctant to lead P3 engagements because of their inexperience in this area. The Center will meet many of their needs. Not only will this be a great thing for America, it will create thousands of new jobs."
The Build America Investment Center is part of the President's new Build America Transportation Investment Initiative. He, too, sees the center and his other transportation-related initiatives as both an investment in the nation's transportation infrastructure and an investment in job opportunities for Americans.
The center will be located within the U.S. Department of Transportation (DOT). It will provide a "Navigator Service" to make DOT credit programs more accessible and easier to understand for state and local government officials while providing assistance and resources for private-sector developers and investors.
Best practices from other states and countries that have been successful in P3 engagements will be shared. Information will be available about DOT credit programs, case studies on successful P3 projects and how deals are structured.
Obama said current transportation funding shortages at all levels of government have left the door open for alternative funding options. This initiative is aimed at encouraging collaborative efforts between state and local governments and private-sector investors.
In addition to the transportation investment center, the order also calls for a working group that will be charged with expanding the use of P3s beyond the transportation industry. They will work with stakeholders to address barriers to private investments and partnerships in such areas as water, ports, harbors, broadband and the electric grid. There will be an infrastructure investment summit hosted by the U.S. Treasury Department in September. Project developers, institutional investors and government officials will gather to discuss innovative infrastructure financing possibilities.
Obama notes that investors are eager to invest in this country, both domestic and international firms. He pointed out that the United States was the top destination for foreign direct investment last year with more than $230 billion. The global investment community has a "growing appetite for infrastructure," said the President.
About the Company Strategic Partnerships, Inc. (SPI) is a full-service procurement consulting firm. SPI is recognized as a pioneer in the business of partnering public and private entities for commercial purposes. SPI was founded by Mary Scott Nabers, a published expert on Public-Private Partnerships (P3s). For more information, contact SPI at 512-531-3900 or by visiting http://bit.ly/1rnuATP
Press Contact: J. Lyn Carl Strategic Partnerships, Inc. Barton Oaks Plaza One, Suite #100 901 S. Mopac Expressway Austin, Texas 78746 512.531.3900 http://www.spartnerships.com/
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