The Bay Area Council Economic Institute (BACEI) announced Monday the release of its study, “Public-Private Partnerships in California: How Governments Can Innovate, Attract Investment, and Improve Infrastructure Performance.” The white paper was released in Sacramento at the California Policy Summit facilitated by the Milken Institute. It is available for free on the BACEI website.
Pillsbury is a sponsor of the BACEI study, and Pillsbury partner Rob James provided input to the study authors, Will Hewes of TableRock Infrastructure Partners and Sean Randolph, Senior Director of BACEI. James serves on the Board of Trustees of the Institute, as well as on the Executive Committee of the Board of Directors of the Bay Area Council.
“The study highlights the gap in funding for essential infrastructure investment across all categories—transportation, water and wastewater, schools, energy and public buildings,” James said. “Private capital, prudently deployed in public-private partnership arrangements, will be needed to sustain California’s extraordinary growth and quality of life.”
Past and proposed P3 case studies are laid out in the BACEI study, demonstrating the range of techniques that public agencies and private enterprise can use to achieve complementary goals. The paper concludes with recommended innovations to strengthen the P3 approach. P3 centers of expertise, staged consideration of project delivery methods, improved interaction between public and private staffing, contracting and environmental legal reforms and federal and state financial incentives all are discussed in detail.
Founded in 1990, the Bay Area Council Economic Institute is a think tank focused on the economic and policy issues facing the San Francisco/Silicon Valley Bay Area, one of the most dynamic regions in the United States and the world’s leading center for technology and innovation. The Institute is supported by the Bay Area Council, a public policy organization that includes hundreds of the region’s largest employers.