Be sure to check out this recent editorial by Texas Association of Business President and CEO Bill Hammond on the value of using public-private partnerships to meet the urgent need for transportation infrastructure funding in Texas.  

Hammond reiterated an important point made last month by Sen. Tommy Williams, chairman of the Texas Senate Transportation and Homeland Security Committee: In 2012, "Texas will have no new money to build new roads or highways."

Hammond continued that the current lack of transportation funding means Texas needs to look at public-private partnerships for the construction of Texas roadways including the LBJ Express, DFW Connector, North Tarrant Express and State Highway 130. Texas roads are not currently built at the same rate that Texans increase their miles traveled per year. If Texas does not address the demand for roads throughout the state, Texans can expect to sit in their vehicle nearly 140 hours per year by 2035.

According to Hammond, funding Texas transportation projects through public-private partnerships also means 175,000 direct and indirect job opportunites over the next five years just for the Central and North Texas projects. This method of funding will not only improve road congestion for Texans, but will provide jobs and increase much-needed revenue for Texas.

In a time of massive budget shortfalls facing our state, funding infrastructure projects through public-private partnerships is a vital solution to Texas' increasing transportation funding needs. Hammond's argument creates a good picture of how our state's roads could suffer if transportation funding needs are not addressed and the numerous benefits to addressing these needs through public-private partnerships.

Read Hammond's full editorial here.