On February 9th, Cyndy Loomis, CEO of management consulting and IT firm ISF, attended a dinner hosted by the Government Services Partnership Institute (GSPI). Other attendees included GSPI staff, industry leaders, and local public officials. The purpose of the event was to bring local government and industry leaders together to discuss the many benefits and opportunities available for public-private partnerships, also known as P3. Many believe that under the current public sector budget crunch, P3 efforts will be key, enabling the public sector to focus available staff and funds on core services.
Among the topics discussed was the current legislation (HB 337 and SB 576) pending before the Senate and House that would create the Florida Public-Private Partnership Act to facilitate public-private partnerships, when cost-effective, to construction projects. The bill specifies the requirements for collaborative venture partnership, and creates a Public-Private Partnerships Advisory Commission. While this legislation focuses on construction and infrastructure projects, P3 can be beneficial across all business areas.
Loomis has seen P3 work firsthand, through several public-private partnership projects supported by ISF. “P3 arrangements save the State of Florida valuable dollars and assure the private vendor is providing services of value. If contracted and managed appropriately, P3 are cost-effective ways for the public and private sectors to bring their individual expertise. ISF is well positioned to leverage this experience and infrastructure to absorb and manage additional P3 initiatives,” Loomis said, “and we’re actively seeking new opportunities.”
GSPI’s next large-scale event will be the North Florida Leaders Summit on Public-Private Partnerships, to be held on March 2nd in Jacksonville. Loomis is scheduled to attend.