New York’s Infrastructure
A city is only as great as its basic infrastructure. New York is far behind other global cities in the modernization and maintenance of its transportation and other public assets. A problem that is further compounded by the city’s $45 billion infrastructure repair need over the next five years. However, by improving regulatory and approval processes and advancing public-private collaboration, we can leverage the private sector resources and expertise needed to achieve world-class infrastructure. The Partnership is working to make sure we maximize these opportunities.
Introduction of Public-Private Partnerships to Improve Mass Transit
In October 2014, New York State Comptroller Thomas DiNapoli released a report based on a NYC Transit survey that found that approximately 90 percent of New York subway stations had structural defects, yet ridership grows by more than 30 million rides each year. New York can do more with less. Enabling P3s would give the state access to capital from pension funds, sovereign wealth funds, insurance companies, private equity firms and concessionaires to supplement public dollars.
In October 2018, the Partnership and the Metropolitan Transportation Authority launched the Transit Innovation Partnership, a public-private initiative with the mission to make New York the global leader in public transit. The inaugural initiative is the Transit Tech Lab, the nation’s first public transit pilot accelerator.
Design-build is a streamlined method of public procurement and contracting for capital projects that allows government to enter into a contract for the engineering and construction work for complex projects through a single bid process. With limitations on the agencies that are able to utilize design-build, New York is behind the forty-one states that widely use this form of procurement, adding hundreds of millions of dollars the city’s 10-year capital plan and years to project timelines. By expanding design build authority to localities, New York can more efficiently invest in its infrastructure.
Modernization and Expansion of Regional Airports
The region’s airports are responsible for nearly half a million jobs and $63 billion in economic activity. New York City employers spent $57 billion on 8.7 million flights to and from the New York metro region in 2015. Investments in accessibility and capacity enhance New York’s capacity for global commerce.