Innovative Finance

The division of innovative finance is dedicated to advancing large-scale transportation projects by leveraging  financing strategies and fostering robust public-private partnerships. Our focus is on creating streamlined processes that promote transparency, fair competition, and long-term value for the public while integrating national best practices. By building a dynamic, multidisciplinary team, we ensure effective collaboration and continuous improvement in executing all financial and user fee operational aspects of the P3 contracts. In partnership with key stakeholders, the division is committed to delivering exceptional infrastructure outcomes that align with the department’s strategic vision.

About P3s

Public-Private Partnerships (P3) are partnerships formed between public entities like TDOT and private companies, allowing Tennessee to better allocate the limited resources for transportation projects by leveraging private-sector innovation and capital. In addition to the assigning responsibilities of designing and constructing projects, P3s allow the TDOT to bring a private partner to support the finance, operation and/or maintenance of projects, such as the Choice lanes. P3s allow for shared risks, accelerated project delivery, access to additional capital, long-term view of asset management, and may result in the reduction of public costs, with debts privately financed without any obligations to the state. As a result, Tennessee can offer enhanced and expanded mobility options faster and with improved driver experience and quality, all while freeing up state funds to continue providing transportation improvements in rural communities, such as replacing or improving existing bridges or roadways or widening the interstate system to three lanes.