A revolution in project financing is transforming transportation the Lone Star State and nowhere is that more in evidence than North Texas.
The Dallas/Fort Worth area is amid a highway construction boom. Currently there are $9.5 billion worth of highway construction going on in the North Texas region. Most of these projects are being funded using public private partnerships — more than half of such projects statewide. The Texas Department of Transportation has increasingly turned to alternative financing methods as a way to bridge the state's growing infrastructure gap (estimated at more than $4 billion and growing).
A rapidly growing population has dramatically increased highway needs but the emergence of more fuel-efficient vehicles has evaporated funds. The state's solution has been a sophisticated alternative financing system that provides a means to leverage existing funds to complete the needed roadways. This features a mix of design/build projects as well as public private partnerships customized for each particular road project.
My cover story on the trend, "P3s Fuel Construction of Lone Star Lanes", appeared in the Dec. 30, 2013 issue of Engineering News-Record.