Public- Private Partnerships
Public-private partnerships are critical to many Economic Development projects. They are an excellent way to mitigate risk to the community, share responsibility and encourage economic activity when it is otherwise unlikely to occur from the private or public sector acting alone. While the private side will look to the local government(s) to own, operate and, of course, pay for the required facilities and other infrastructure, local governments will look to the private sector to deliver favorable economic activities that drive the desired Economic Development impact. One without the other creates failure in the outcome desired by both. Clearly understanding both sides’ needs, sources of funding to cover capital and operating cost, and the project’s economics helps our professionals guide our clients through a collaborative discussion with public and private stakeholders. The variety of economic impacts identified in the feasibility phase of the project are put into our Financial Models and used to help bring the various perspectives and needs into focus that builds consensus. Through this process our professionals help governments and other public and private stakeholders identify, structure and collaborate to build powerful programs.