Public-private partnerships (P3s) are being launched somewhere in the U.S. every day. Public officials with critical project needs are seeking alternative funding sources, and almost any version of a P3 is attractive to them. Since the trend appears to be the future, here’s a sampling of what is happening currently.
Student enrollment in colleges and universities throughout the U.S. continues to grow. Data tells us that no matter what the economy does, young men and women realize the importance of getting a degree. Statistics from the Institute of Education Services point to the fact that even during the Great Recession from 2007-2009, student enrollments maintained a level constant as young men and women entered or re-entered institutions of higher education.
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Some seasoned government contracting firms have spent decades studying ‘best practices’ associated with winning new business. They know exactly what it takes, and because of that, they incur less risk when pursuing projects. These firms also win lots of government business.
Transportation infrastructure will stimulate the U.S. economy significantly over the next few years. Hundreds of large projects have been announced; so many in fact, it should be possible for almost every type of contracting firm to find attractive opportunities.
Upcoming public sector opportunities can be found in almost every area of the public sector marketplace. But, at the moment, the sheer number of upcoming opportunities related to law enforcement facilities is enough to make one ponder. Has every incarceration facility become obsolete all at once? Have local and state officials all decided to upgrade jails, prisons, and justice centers at the same time for some reason? Are there enough experienced construction firms ready to meet the demand?
County courthouses, city halls, and government buildings of all types are being renovated, sold, or replaced. Most public facilities of this type are old, inefficient, costly to maintain, and unable to accommodate new technology. Some are unsafe and no longer meet federal compliance standards. Contractors interested in pursuing contracting opportunities to provide upgrades or new construction will find lots of options in every state.