By Nolan Miles
P3 Kentucky Staff Writer
Fixing infrastructure when it breaks is a thing of the past. Today, sustainable infrastructure needs to become the new norm as the nation’s $3.6 trillion infrastructure repair costs continue to climb.
Sustainable infrastructure are projects that are designed to withstand the tests of time and changing climates, avoiding unexpected maintenance costs and operated to be more resilient. The Wharton School of the University of Pennsylvania’s Initiative for Global Environmental Leadership says that public-private partnerships are the model behind creating sustainable infrastructure projects.
Kentucky Gov. Matt Bevin recently suggested that P3s could be used in Kentucky to build the I-69 Crossing between Indiana and Kentucky or to repair bridges statewide through a bundled contract.
More than 20 states have implemented P3s, and the number of project’s continue to climb. Canada has created its own model of how to successfully implement of P3, resulting in over 200 public-private partnerships over the past 30 years, providing an average of $14 billion a year to economic activity in the country.
Click here for the full story, and to learn about what Honolulu and Philadelphia has done to create sustainable infrastructure projects.