P3 Basics

A P3, or public-private partnership, is a procurement model that uses an integrated approach to deliver infrastructure, incorporating design, construction, financing, operations and maintenance functions into the contract.

P3s are partnerships between a public entity and a group of private companies to deliver a public good or service. P3s offer a more efficient way to build, finance and maintain courthouses, transit systems, roads, bridges and water systems. P3s allow private capital to help finance projects. They also keep the ownership of the facility with the government.

P3s offer governments a way to transfer risks to the private sector, help ensure infrastructure projects are built on time and on budget, and better maintain public facilities over many decades, protecting the taxpayer.

A P3 is:

A P3 is not: