The Power of P3S
By Lisa Peterson, VP of Business Development
Originally published in ‘Vertical Space’, Fall 2023
THERE’S NO DOUBT THAT WOMEN AND DRONES AND THOSE OF US WHO WORK IN THE AVIATION INDUSTRY CLEARLY COMPREHEND HOW ADVANCED AIR MOBILITY (AAM) WILL SIGNIFICANTLY TRANSFORM OUR NATION’S ENTIRE TRANSPORTATION SYSTEM.
And while the benefits of AAM technologies will significantly impact how people and cargo are moved, the various sectors of our industry must triple our efforts to ensure that all of America – particularly rural areas in desperate need of new or enhanced infrastructure – understand the massive advantages of becoming “AAM Ready.”
It’s true that even among die-hard industry stalwarts, there is a great deal of skepticism regarding the timelines of when all of us will actually see that first Jetson-like aircraft fly autonomously within our National Airspace System (NAS).
If I had a dollar for every time I’ve been asked, “When will we actually see an air taxi, like George Jetson’s?” I’d be much better off from a financial perspective. For those of us in the industry who have spent any time at all dealing with the complicated and sometimes uncertain regulatory processes, doubts are understandable.
Because I am so very fortunate to be on the frontlines of the emergence of this transformative airborne technology, I must admit that I am genuinely excited and optimistic that government and industry stakeholders are coming together to deliver a new kind of “connectivity” for both urban dwellers and rural residents by adding a new way to travel by air.
From the combined efforts of the Federal Aviation Administration, or FAA; the National Aeronautics and Space Administration, or NASA; and the Federal Communications Commission, or FCC, Americans should take a great deal of pride in knowing that these agencies are collectively focused on establishing a national strategy enabling every nook and cranny of our country to see realistic and meaningful changes that positively impact not just their everyday lives but also their local and state economies.
That last point actually brings me to the real focus of my outreach: Public-Private Partnerships, commonly known as P3s, which are usually long-term agreements between a government agency and private entity to design, build, finance, operate, and maintain infrastructure projects.
As this issue of the Women and Drone’s Vertical Space e-magazine is focused on small businesses, allow me to give a shout-out for P3s, as they’re ideal and valuable tools for state and local transportation departments to attract private capital to invest in infrastructure. In the wake of the COVID-19 pandemic, this, of course, is particularly important since so many public-sector budgets are tightly constrained.
I’m a firm believer in P3s, as I know they can play a significant role in delivering transportation systems that can help bridge the gap between populations and better connect all our communities. And although access to much-needed funding is crucial, P3s can also provide other resources and expertise that will, no doubt, accelerate critical infrastructure services that every single citizen and local, small business rightfully deserve.