Public-Private Partnerships Help Projects Move Forward, Even in Tough Times

Virginia Association of Counties | County Connections

rnrnIn this time of economic uncertainty, it is nice to know that some companies have been weathering storms successfully for more than 100 years. Howard Shockey & Sons is such a company. Founded in 1896, the Winchester-based company is well positioned for continued growth throughout the Commonwealth. Part of the company’s success can be attributed to its forward-looking business strategy. In fact, today Shockey is one of just a handful of companies in Virginia with a real depth of public-private partnership (PPP) experience. rnrnWhat is a Public-Private Partnership?rnA public-private partnership can often be an ideal model for local governments to develop and finance projects that might otherwise not get built. The advantages of the public-private partnership arrangement over traditional procurement methods are:rn” Increased financing flexibilityrn”” Project costs may be lowerrn”” Projects may be faster to implementrnrnIn 2002 Virginia formally enacted the Public-Private Education Facilities and Infrastructure Act (PPEA)