Public-Private Partnerships and State and Local Economic Development: Leveraging Private Investment

摘要

Public-private partnership (hereinafter referred to as 'PPP' or 'PPPs') is now a standard concept in business and state and local government circles, especially in the economic development realm. Some regard PPPs as 'the' answer to many economic growth and development problems facing state and local governments today, while others express varying degrees of skepticism about their attractiveness and effectiveness. Nonetheless, most seem to agree that PPPs will likely remain an important approach to designing and implementing economic development strategies. PPPs take many different forms for many different purposes. This report is intended to provide economic development practitioners an overview of key findings from the large and varied literature and practice on the use and effectiveness of PPPs as applied to two particular types of economic development efforts: those ongoing activities aimed at improving the 'business climate' and marketing of a jurisdiction and those formed to promote and carry to fruition specific private real estate development projects.