THE MARKET FOR PRIVATE TOLL PROJECTS IN THE UNITED STATES
This report surveys the market for privately financed and operated toll highways, bridges, and tunnels. This market is developing because traditional public-sector funding is inadequate for the level of investment needed over the next decade or more; the Federal Highway Administration (FHWA) puts the shortfall at between $13 and $42 billion per year. Three principal market opportunities exist: new urban congestion-relief tollways, new or rebuilt intercity toll roads, and new or rebuilt bridges and tunnels. This report identifies and quantifies those urban areas with the greatest traffic congestion costs, and those states with the highest fractions of deficient highway and bridge conditions. It also identifies those states where legislation to facilitate private toll projects has been enacted or is being considered. At least nine engineering, construction, and development firms are pursuing the private tollway market, along with at least 11 major investment banking firms. In surveys carried out for this project, these firms identified as key success factors for private tollway projects (1) local political support, (2) minimal environmental problems, and (3) state enabling legislation. Since privatization of transportation infrastructure is still a novel idea to most people, there is a need for significant public-information and lobbying efforts to create a favorable climate of opinion and political environment for such projects.
- Record URL:
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Corporate Authors:
Reason Foundation
3415 S Sepulveda Boulevard, Suite 400
Los Angeles, CA United States 90034 -
Authors:
- Poole Jr, R W
- Guardiano, J R
- Publication Date: 1992-5
Language
- English
Media Info
- Features: Figures; References; Tables;
- Pagination: 71 p.
Subject/Index Terms
- TRT Terms: Bridges; Data collection; Highways; Infrastructure; Legislation; Markets; Private enterprise; Privatization; States; Surveys; Toll bridges; Toll roads; Toll tunnels; Traffic congestion; Tunnels; Urban areas
- Old TRIS Terms: Enabling legislation
- Subject Areas: Bridges and other structures; Finance; Highways; Law; I10: Economics and Administration;
Filing Info
- Accession Number: 00624841
- Record Type: Publication
- Report/Paper Numbers: Policy Insight No. 140
- Files: TRIS
- Created Date: Aug 28 1993 12:00AM