An industry representing over $214 billion in dedicated funding for infrastructure projects faced tremendous opposition from special interests as it sought to bring private funding to public infrastructure and pass legislation enabling public private partnership transactions. In a matter of weeks, Sphere was able to put together a coalition of over 30 banks, funds, law firms and public private partnership industry colleagues to deliver a report and launch a website demonstrating the benefits of private investment in infrastructure: www.createrealjobs.com.
The campaign resulted in hundreds of media impressions helping achieve a $1.5 billion USDOT discretionary fund, a $200 million enhancement of the TIFIA program, and an Alternative Minimum Tax exemption for Private Activity Bonds in the economic stimulus package. In addition, over 34 states have enacted PPP legislation to date, with many more assessing opportunities, and in the most recent Transportation Bill contained supportive PPP language related to tolling pilot programs.
Government: Congress, White House, US DOT
Media: Bloomberg, CNBC, fox business, Infrastructure Investor