Financing Sustainable Transport Through the Private Finance Initiative (PFI) - the Western Wiltshire Experience



Financing Sustainable Transport Through the Private Finance Initiative (PFI) - the Western Wiltshire Experience

Authors

DEAN M, W S Atkins and SWABEY M, Wiltshire County Council, UK

Description

Wiltshire County Council (WCC) has for some time recognised the need to regenerate the economy of western Wiltshire. The A350 corridor area is one that has been subject to considerable pressures from decline in a range of its important industries, but it

Abstract

Wiltshire County Council (WCC) has for some time recognised the need to regenerate the economy of western Wiltshire. The A350 corridor area is one that has been subject to considerable pressures from decline in a range of its important industries, but it atso has quite a number of important opportunities that need to be exploited in order to sustain the future base of the Wiltshire economy. The County's Strategy for Economic Development has laid considerable importance on the potential both for attracting inward investment to key sites and areas and to the importance of supporting growing local businesses. Both require improvements to infrastructure to enable businesses to make sensible and viable choices about their location. The strategy lays emphasis upon the need to involve business in determining transport priorities and the need to improve those major route corridors that link with motorways, ports and airports.

Improvements to transport infrastructure in the corridor are viewed as an essential part of the process of making western Wiltshire more self sufficient in terms of employment. The current poor transport infrastructure is seen as a major disincentive to investment in the corridor. WCC's proposals include the completion of the Chippenham Western Bypass, the Semington-Melksham Diversion and a Westbury Bypass, all on the A350.

Encouraged by changes to the Capital Finance Regulations to encourage the Private Finance Initiative (PFI) in local government, WCC therefore decided to explore the potential of the PFI in relation to the regeneration of the western Wiltshire corridor between the two major regional east/west routes, the M4 and the A303.

Publisher

Association for European Transport