VDOT Receives International Award for Public-Private Partnerships
Office of Public-Private Partnerships recognized for leadership in innovative project delivery
RICHMOND, Va. – 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 recognizes outstanding achievements 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.”
Virginia has been using public-private partnerships since 1992 and continues to deliver innovative solutions for transportation and funding challenges through developing partnerships through the private sector.
“Virginia’s world-class P3 program is a model for others highlighting innovative financing to successfully deliver major infrastructure improvements,” said VDOT Commissioner Stephen C. Brich. “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.”
Successful operating P3 projects in Virginia 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 currently underway include:
- Transform I-66 Outside the Beltway
- I-95 Express Lanes Fredericksburg Extension
- I-495 Express Lanes Northern Extension (495 NEXT)
- I-495 Bi-State Agreement (Virginia and Maryland)
- Coalfields Expressway
For more information about the Virginia Office of Public-Private Partnerships, visit http://www.p3virginia.org/.