AGC New Mexico working with both industry and government partners in support for “P3-friendly” policies and practices
Public-Private Partnerships in New Mexico
- Mike Puelle, Director of Public Policy & Government Relations
Over this summer and autumn, you will hear a lot more about public-private partnerships here in New Mexico. Often called P3, the term refers to a broad spectrum of procurement and financing tools that help deliver public services and meet infrastructure needs through more innovative combinations of both public and private sector expertise. The use of these diverse approaches is already expanding at all levels of government, including here in New Mexico. And to grow our economy, create more jobs, and preserve the tax base, our state needs these innovations more than most.
From urban redevelopment in Albuquerque to renewable energy utilities in Silver City, public-private partnerships offer flexible and customized methods to meet public needs in the face of limited resources.
The goal is to make more public projects economically viable that are not getting done under current fiscal challenges. P3s can also sustain public services and secure public investments that cannot keep pace by relying on outmoded practices.
Through new contracting arrangements, the public sector can ensure greater transparency and accountability for results measured against specific performance measures. The private sector’s role in these partnerships is to offer more competitive, innovative, and efficient methods for meeting publicly defined needs.
No one silver bullet will fix New Mexico’s economic challenges. The question is why our policy makers and business community would not engage every tool available to generate more jobs and income growth in our state. Particularly when we see such tools succeeding elsewhere. Our industry knows better than any that our leaders cannot afford to wait, because our local companies and economies can no longer afford the wait.
Over the next several months, AGC New Mexico will be working with both industry and government partners to increase awareness, interest, and active support for “P3-friendly” policies and practices.
We want to increase opportunities for infrastructure investment and economic development through a shift in focus and expectation among both public officials and the business community.
And we are ready to collaborate and advocate for the best public policies, procurement environment, and private sector participation to make this a reality.
Please remain on the lookout for educational events and policy discussions that we will highlight for advancing these P3 goals. It is always the active participation of our members that provides traction for AGC New Mexico’s public policy program.
AGC was excited to sponsor yesterday's Urban Land Institute’s meeting, where five commercial developers and economic developers discussed the merits of public-private partnerships.