Officials at major U.S. ports say they are receptive to exploring private-public partnerships as a funding source to meet infrastructure needs.
The Philadelphia Regional Port Authority, Massachusetts Port Authority, North Carolina State Ports Authority and Port of New Orleans have all worked with P3s in past and officials for the agencies expressed openness to team up with private developers for future projects at the P3 Infrastructure Summit 2015 in New York Wednesday.
“MassPort has had a successful career doing public-private partnerships,” said John P. Pranckevicius, director of administration & finance for Massport during the panel discussion. “We’re no stranger to public-private partnerships”
Pranckevicius said he is open to a P3 for the Conley Container Terminal operated by Massport, but funding improvements planned for Boston’s Logan International Airport have stalled any short-term pursuit of this path. He added that an anti-privatization Pacheco Law in Massachusetts also creates an additional obstacle.
Gregory V. Iannarelli, chief counsel, Philadelphia Regional Port Authority, said his agency has pursued P3s in past because of funding uncertainties in Pennsylvania. He said private investment is important as the agency seeks to develop the 119-acre Southport Marine Terminal site.
“It’s at a point now where it is time go big or go home,” said Iannarelli. “We’re trying to keep the momentum going.”
Janet Chilcott, director of finance for the North Carolina State Ports Authority, said P3s have been useful in past for terminal projects such as a new cold storage facility built at the Port of Wilmington. Chilcott said she welcomes further private investment in the authority’s ports.
“We always welcome unsolicited proposals because we want to see how the marketplace can serve North Carolina,” said Chilcott.
Gary P. LaGrange, president and CEO for the Port of New Orleans, said working with a private enterprise on the authority’s $750 million project expanding the Napolean Avenue Container Terminal has proven effective. The nation’s sixth largest port does not receive funding that other large ports across the country receive making P3s even more vital, according to LaGrange.
“In essence we operate like a private business,” he said.
