Communities look to P3 for upgrading technology
From smart phones to programmable thermostats to digital assistants like Amazon’s Echo, individuals embrace technology that helps them run their homes and lives more efficiently. Local governments are beginning to do the same with smart-city initiatives, using technology to integrate management of traffic flow, public transit, utilities, government buildings and more. The challenge is how to pay for community-wide, high-tech upgrades, says a majority of respondents to a survey in Black & Veatch’s “2017 Strategic Directions: Smart City/Smart Utility Report.”
One solution? Public-private partnerships (P3s), three-fourths of the respondents say. One key element, the report noted, is communicating the value. Private-sector partners must work closely with public stakeholders to educate taxpayers project benefits.
Click here to read more about financing smart-city projects with P3 and communicating the value to constituents.