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July 25, 2008 9:38:49 PM CDT

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Hit the Road, Jack—or You Can Lease It

Posted Oct 24, 07 11:15 AM CDT in Business,  US 

(Newser) – Cruising the Goldman Sachs Turnpike might not be as futuristic as it seems, Time reports, as more states lease highways to private companies to raise quick cash for infrastructure needs. And backlash didn't stop Indiana from grabbing $3.8 billion for a 75-year lease on the Indiana Toll Road. States and localities are considering 71 such projects, worth $104 billion.

Enter the backlash. Some assert private companies will raise tolls, which governments are generally loath to do themselves. Top congressmen have also warned the nation’s governors about furnishing “private interests”—and threatened to block deals against the public interest. But the trend continues, and privately-built infrastructure often favors the public, shifting risk off the government.

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More and more states and municipalities are looking to privatize highways in a move to make some quick cash.   (KRT Photos)
The New Jersey Turnpike. More and more states and municipalities are looking to privatize highways in a move to make some quick cash.   (Getty Images)
More and more states and municipalities are looking to privatize highways in a move to make some quick cash.   (Getty Images)
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Goldman Sachs  • governor  • privatization  • highways  • Carlyle Group  • Indiana Toll Road


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