New law paves way for water/sewer, economic development and other investments
LOUISVILLE (May 15, 2017) – P3 Kentucky, a new communications hub, will help inform and connect Kentucky’s local and state leaders who are considering public-private partnerships to solve pressing needs for water and sewer improvements, economic development projects and other public infrastructure investments.
To mark the start of National Infrastructure Week, P3 Kentucky on Monday launched its new website, P3KY.com, and is distributing e-newsletters to more than 4,000 local, state, economic development and business leaders.
Thanks to Gov. Matt Bevin and the Kentucky General Assembly, Kentucky now has one of the nation’s most expansive laws to encourage the use of public-private partnerships for public infrastructure needs. P3 isn’t a funding source, it’s a financing tool that can provide both upfront capital and private-sector expertise to move projects to construction.
While some Kentucky cities and state cabinets have successfully used P3, the financing tool is still unfamiliar to many local and state leaders who have relied on traditional bonding or annual budgets to pay for public infrastructure.
“Our mission is to educate and connect the thousands of leaders across the Commonwealth who have the power to combine business-minded innovation and public-minded investments,” said Ed Green, editor of P3 Kentucky. “Experience tells us big things can happen when the public and private sectors work together to find solutions.”
P3 Kentucky is a venture of C2 Strategic Communications, a Louisville-based communications firm that focuses on transportation, economic development and community improvement projects.
Leading statewide groups supporting P3 Kentucky
The statewide groups that pushed for the changes in Kentucky’s P3 law are supporting the communications venture by serving on the P3 Kentucky Roundtable, a group of thought leaders and experts who provide advice on public infrastructure projects.
The roundtable includes representatives of the Kentucky Chamber of Commerce, Kentucky League of Cities, Kentucky Association of Counties, Kentucky Magistrates and Commissioners Association, Kentuckians for Better Transportation, Associated General Contractors of Kentucky, the American Council of Engineering Companies, Kentucky Chapter and the Kentucky Association for Economic Development.
“Public Private Partnerships will move the Commonwealth forward on important investments thereby creating jobs, completing necessary infrastructure projects and efficiently serving the public,” said Ashli Watts, vice president, public affairs for the Kentucky Chamber of Commerce. “ The use of P3’s will help Kentucky’s business community, local governments, contractors and workforce forge ahead with needed infrastructure and services in an innovative fashion.”
“Kentucky has tremendous needs for transportation improvements – roads, bridges, airports and riverports,” said Juva Barber, executive director of Kentuckians for Better Transportation. “Decision-makers should consider public-private partnerships as part of the financial solution.”
“The Kentucky League of Cities made public-private partnerships a major initiative in 2016, with HB 309, and we continue to support the positive role the legislation will have for city governments in the Commonwealth,” said J.D. Chaney, deputy executive director of KLC. “New partnership opportunities for local governments in Kentucky mean city leaders have more options and can make better decisions for the public they serve. Public-private partnerships allow collaboration between local leaders and local businesses for projects that move communities forward at potentially less cost for the taxpayers.”
About P3 Kentucky
P3 Kentucky, powered by C2 Strategic Communications, helps leaders and professionals better understand P3 and determine whether it’s the right financing tool for their priority project. It’s a digital community for advocates, resource providers and community leaders.
To learn more about P3 Kentucky, visit P3KY.com.