- September 12, 2016
- Posted by: James Bregenzer
- Category: News
A joint report from NASPO, NASFA, NASCA and Governing Institute
More and more states are being afforded the statutory authority to add Public-Private Partnerships (P3s) as a tool to their procurement toolbox. A public-private partnership is defined as “a long-term agreement between a government and the private sector to share the risks and rewards of delivering an essential public service.”
Earlier this year, and with the support of the Governing Institute, NASPO joined with the National Association of State Chief Administrators (NASCA) and the National Association of State Facilities Administrators (NASFA) to discuss the challenges and opportunities presented by this innovative procurement strategy.
This new publication highlights how different government entities can work together to develop successful P3s for your state. It includes information on when P3’s should be considered, risk factors, practical considerations and current P3 laws.