VDOT’s Office of Public Private Partnerships (VAP3) was created in 2010 as a statewide resource responsible for identifying, developing, and procuring P3 projects in a statewide program for project delivery via the Virginia Public-Private Transportation Act (PPTA) of 1995, Virginia Public-Private Infrastructure and Education Facilities of 2002, as well as the Virginia Public Procurement Act of 1981. VAP3 enables many of the major transportation improvements in Virginia by leveraging private sector financing and expertise. Private investment provides billions of dollars in new funding for transportation needs throughout Virginia and empowers the commonwealth to accomplish more with limited state funds.
Public-Private Partnerships encourage public agencies and private sector partners to form teams to bring innovation, private and public investments in projects, achieve cost efficiencies through identification, and risk transfer for delivery of critical infrastructure projects. Virginia’s world class P3 program is a model for other states, has pumped billions of dollars into Virginia’s economy, and supported tens of thousands of jobs.