American infrastructure is in great need of investment, and it will take strong political leadership to make meaningful improvements. As one step toward that larger goal, it was great that the Obama Administration on October 9 hosted the Infrastructure Investment Summit to rally support for the Build America Investment Initiative, a government-wide effort launched in July to advance the U.S. market for public-private partnerships. U.S. Transportation Secretary Anthony Foxx, U.S. Commerce Secretary Penny Pritzker and U.S. Secretary of the Department of the Treasury Jacob J. Lew were among those who spoke at this D.C. event to an audience that included leaders from state and local governments and businesses, including Skanska.
While this entire event was great, our favorite part was directly related to Skanska’s latest P3, the I-4 Ultimate project for which our I-4 Mobility Partners team is providing finance, design, construction, operations and maintenance services to reconstruct and widen 21 miles of Interstate 4 through Orlando, Fla. Before the crowd, Foxx announced a $950 million Transportation Department loan to help pay for this project. This is the largest loan that the U.S. DOT has awarded to a public-private partnership, and is a significant step forward for P3s in America.
In case you missed this event, below is the conversation about it from social media.