billion infrastructure portfolio one year
sooner would mean an additional 10 per
cent of project value. This economic boost
is of a similar magnitude as value-for-mon-
ey. This proves that much of the (previous-
ly unquantified) benefit of P3s are in the
delivery of large and complex projects on
time.”
“CANCEA’s assessment of the 25-year his-
tory of P3s in Canada demonstrated sav-
ings to government up to $27 billion,” says
Romoff. “That is very significant. These
projects when using P3 are delivered on
average 13 per cent faster.”
P3s also add 115,000 jobs on average on
an annual basis, and $5 billion of additional
wages per year, “Strong, solid evidence
for governments to make good public poli-
cy,” says Romoff.
Indeed, the P3 model is gaining more trac-
tion outside of British Columbia and On-
tario. Governments across the country are
recognizing the need to address their in-
frastructure deficit and are allocating the
funding to do it. Where they need to part-
ner with others, they are embracing the
P3 approach to make it possible.
Newfoundland and Labrador has two P3
projects in the market place right now, and
the government of Nova Scotia is looking
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