Local associations such as the Kentucky Chamber of Commerce, the Kentucky Chamber of Commerce, the Kentucky Association of Highway Contractors, the Association of General Contractors, and nearly twenty other local chambers of commerce support the legislation.
HB 407 would enable the use of public-private partnerships (P3s) by state and local governments, a tool already in use in many other states of the United States. Among other things, the legislation would:
Debbie Simpson, Chair of the Northern Kentucky Chamber of Commerce and president of Multi-Craft, stated:
At a time when state dollars are scarce, we applaud the Kentucky General Assembly and specifically Representative Combs for her leadership in putting a tool in our toolbox to leverage the expertise and efficiency of the private sector.
P3s have been used in over 30 states for decades, including all of Kentucky's surrounding states. P3s aren't limited to state projects; they can also save taxpayers money at the local level.
Jim Parsons, Northern Kentucky Chamber of Commerce business advocacy council chairman, stated:
This bill is about creating jobs by leveraging private sector dollars and business expertise. By passing HB 407, Northern Kentucky has the chance to spur development of projects that have long sat idle due to lack of funding. Partnering with the business community will be a game-changer for Northern Kentucky and the entire Commonwealth.