P3 and the port
The US port sector is at the beginning of a trend in which sea and inland ports will have to shift away from traditional funding sources such as municipal debt, due to greater competition for scarce resources, while private sector investment continues to shape the competitive landscape. Current spending falls well short of the amounts needed.
One solution could be public-private partnerships (P3s).
P3s use private investment to create or rebuild public infrastructure. These are typically long-term, performance-based contracts between governments, private investors, construction firms, and asset and operations managers.
Though relatively few P3s have been successfully delivered in the US to date, the ongoing infrastructure crisis may necessitate broader adoption and, ultimately, a shift away from publicly financed projects.