Public private partnerships (P3) are an increasingly popular method of delivering infrastructure projects in the US. They are primarily based on benefits they offer in terms of cost and schedule savings, risk-shifting, innovation, enhanced certainty of delivery, long-term cost advantages and other benefits.
In Colorado, P3s have been used at the state and local levels as a delivery mechanism for various forms of infrastructure. At the state level, the legislature established the High Performance Transportation Enterprise, now known as the Colorado Transportation Investment Office (CTIO), as an arm of the Colorado Department of Transportation (CDOT). CTIO is authorized to employ a P3 delivery mechanism for highways in the state, such as the recently completed Central 70 Project, the US 36 managed lanes project and other improvements.