Louisiana asking for private help to upgrade roads and bridges

The Advocate

In a first for Louisiana, state transportation officials announced Monday they will solicit input from private firms to fast track major improvements on Interstate 10 in the Baton Rouge area.

Officials also said the request will make good on Gov. John Bel Edwards' campaign promise to find innovative ways to tackle the state's road and bridge problems, including a $13 billion backlog.

"Private investors have their eyes on Louisiana and are eager to invest here," state Transportation and Development Secretary Shawn Wilson said in a prepared statement.

"These innovative financing methods have worked in other states that have invested in infrastructure," Wilson said.

Any such agreements between the state and private companies are known as public/private partnerships, or P3s in transportation jargon.

They generally consist of private firms supplying the money for construction in exchange for long-term payments from the state, such as toll revenue.

However, firms could also reap dividends on their investments through yearly payments from state, federal or other sources, depending on the financing plan.