P3 deal pipeline grows even as federal infrastructure funding flows

States have queued up a robust pipeline of public-private partnership deals in the transportation space even as the pace of federally funded projects is expected to quicken ahead of the autumn election.

“It’s a big pipeline this year,” said Robert Poole, senior transportation director at Reason Foundation, who spoke with The Bond Buyer for an upcoming podcast on transportation-related P3s. “It’s more than we’ve seen in several recent years.”

On the federal front, the Army Corps of Engineers is continuing work on its four pilot projects following its first P3, reported as in poor condition and 42% of bridges being at least 50 years old, according to the 2021 Infrastructure Report Card, which comes out every four years.

“We have a huge set of still as-yet unfunded infrastructure needs and if it’s appropriately matched to the project, the P3 model has a lot to offer,” Gifford said. “I’m pretty optimistic about the potential for an expanded market.”