The Virginia Department of Transportation (VDOT) and the Office of Public-Private Partnerships have been named a Public Sector Procurer of the Year by industry publication P3 Bulletin.
The 2020 P3 Awards recognized outstanding achievement in public-private partnerships throughout the Americas.
“The Virginia program has developed P3s involving more than $12.6 billion of value with less than $1 billion of taxpayer funds,” said Thomas Sherman, deputy director of the Virginia Office of Public-Private Partnerships. “Through these projects, VDOT has delivered significant roadway options and solutions to Virginia motorists and taxpayers through collaborative partnerships with the private sector.”
The state has been using P3 projects since 1992.
“Virginia’s world-class P3 program is a model for others highlighting innovative financing to successfully deliver major infrastructure improvements,” VDOT Commissioner Stephen C. Brich said. “Virginia P3 projects have injected billions of dollars into Virginia’s economy, supported tens of thousands of jobs, and offered unique solutions to address multifaceted challenges. By connecting our regional transportation networks, Virginia P3 solutions offer service delivery options that residents and travelers likely otherwise would not have.”
Successfully operating P3 projects in the state include the I-495 Express Lanes, the I-95 Express Lanes and 395 Express Lanes in northern Virginia, and the Elizabeth River Tunnels in the Hampton Roads area. Other P3 projects underway include the I-95 Express Lanes Fredericksburg Extension, the I-495-Express Lanes Northern Extension, and the Coalfields Expressway.