In order to remain globally competitive and move our goods and services effectively, we need to be prioritizing the improvement of our infrastructure, and we need the financing to make that happen
New York, NY (Vocus) May 7, 2009
Nearly all U.S. state and local government officials with Public-Private Partnerships (PPP) experience have a high opinion and approve of PPP, according to a new PPP SmartMarket Report, released today by McGraw-Hill Construction, with support from Halcrow, at the Dow Jones Infrastructure Summit in New York City. Furthermore, the financial crisis is not stopping consideration of PPP: 71% of state and local officials report that PPP is just as or more attractive during the crisis.
While the American Recovery and Reinvestment Act of 2009 allocated nearly $50 billion to transportation infrastructure funding, this is only a fraction of the funding needed long-term. For example, the American Society of Civil Engineers estimates that only $70.3 billion is spent each year on highway capital improvements, when $186 billion per year is needed. The U.S. is facing serious challenges as its roads, bridges and tunnels deteriorate.
"In order to remain globally competitive and move our goods and services effectively, we need to be prioritizing the improvement of our infrastructure, and we need the financing to make that happen," said Harvey M. Bernstein, Vice President of Industry Analytics, Alliances and Strategic Initiatives, McGraw-Hill Construction. "PPPs provide one option that can help fill this revenue gap, and state officials that are working with them are realizing the success they can offer. We think this new research helps move us toward a better, more informed conversation about innovative infrastructure financing options."
"We are faced with a great opportunity--the opportunity to lead with new thinking regarding infrastructure funding, particularly through vehicles such as PPP," said Michael Della Rocca, President, North America, Halcrow. "I fundamentally believe it is within our collective ability to redefine the funding, procurement, implementation, management and renewal of our infrastructure assets and provide a network that will make a genuinely positive difference to people's lives and to the broader wealth of America."
McGraw-Hill Construction surveyed state and local government officials in the U.S. about engaging in PPP to identify trends, offer better understanding, reveal areas that need education, and provide information on market opportunities. The resulting PPP report features data results, case studies, and interviews with key decision-makers and PPP leaders. Highlights from the report include:
More information can be found at http://construction.ecnext.com/coms2/analytics or Halcrow.com.
About Halcrow
Halcrow specializes in planning, design and management services for infrastructure development worldwide. Our purpose is to sustain and improve the quality of people's lives. Halcrow is an independent, global consulting firm, owned and managed by its employees and staff shareholders. In 2008, it achieved gross revenue of over $707 million. The firm's 8,000 plus employees operate from a network of more than 90 offices around the world, including 24 in North America. Halcrow provides consulting engineering services and development advice to government agencies, public-sector authorities and utilities, industrial and commercial firms, international funding agencies, financial institutions and private clients. Halcrow offers expertise in virtually all areas related to the built environment, including, transportation, water, buildings, power, environment and maritime. The firm's teams are also specialists in a number of innovative areas, leading the way in markets like public-private partnerships and asset management. Halcrow.com
About McGraw-Hill Construction
McGraw-Hill Construction connects people, projects and products across the design and construction industry. For more than a century, the Company has remained North America's leading provider of construction project information, plans and specifications, product information, industry news, and industry trends and forecasts. In print and online, the Company offers a variety of tools, applications, and resources that easily integrate with its customers' workflows. Backed by the power of Dodge, Sweets, Architectural Record, Engineering News-Record (ENR), GreenSource, HQ, SNAP and 11 regional publications, McGraw-Hill Construction serves more than one million customers within the $5.6 trillion global construction community. To learn more, visit http://www.construction.com.
About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion. Additional information is available at http://www.mcgraw-hill.com.
Media Contacts:
Lisa Jaycox, Communications Specialist,
The McGraw-Hill Companies Information & Media, +1 212-512-3272, lisa_jaycox(at)mcgraw-hill.com
Kathy Malangone, Senior Director, Marketing Communications,
McGraw-Hill Construction, +1 212-904-4376, kathy_malangone(at)mcgraw-hill.com
Andrea Grinbaum, Corporate Communications,
Halcrow, +1 212-608-3990, GrinbaumAS(at)halcrow.com
Matthew Wernham, Communications Director,
Halcrow, +44 (0) 20 7602 7282 x3113, WernhamM(at)halcrow.com
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