When a public sector joins a private sector in partnership to fund a service or project that is typically offered by the public sector, you have a public-private partnership (PPP). Oftentimes, PPPs can be wise solutions for getting the capital needed to fund a particular concept-turned-project or to upgrade an existing entity in need of maintenance. The World Bank says PPPs can help foster new solutions and bring finances to governments facing aging or a lack of efficient infrastructure. By working together, public and private sectors make the dream become a reality, without the financial burden.
There are many PPPs in the state of West Virginia that have proven successful, including various business ventures, infrastructure improvements and recreational destinations.
West Virginia Executive reached out to some projects across the state that are either already funded or have funding in progress through PPPs. These PPPs range from small to large scale and prove just how effective these types of partnerships can be in the broader economy in West Virginia.
Read more:
https://wvexecutive.com/bringing-projects-to-life/