Privatized Toll Roads Could Net $10 Billion

First Illinois, now New Jersey. Will privatizing toll roads become the next new trend?

1 minute read

January 26, 2005, 5:00 AM PST

Acting Governor Richard J. Codey is considering selling or leasing the New Jersey Turnpike and the state's other two main toll roads to help close a multibillion-dollar budget gap.

"Experts on such deals say the state could make more than $10 billion on the turnpike alone by selling the toll-collection rights to a private operator.

...Companies have assumed operation and maintenance of toll roads in Canada, Australia and Europe. While others have considered the idea, Chicago's government last year became the first in the United States to complete such a deal, getting $1.83 billion to lease the Chicago Skyway to a private group for 99 years."

Thanks to Governing News

FULL STORY: N.J. looking into selling toll roads to get cash

Tuesday, January 25, 2005 in The Philadelphia Inquirer

Government / Politics United States

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