Foxx unveils new transportation investment center

U.S. Transportation Secretary Anthony Foxx yesterday unveiled the Department of Transportation's (USDOT) Build America Transportation Investment Center (BATIC), which will provide states, municipalities and project sponsors access to federal assistance on transportation projects.

The center will serve as a single point of contact for federal expertise, apply for federal transportation credit programs and explore ways to access private capital in public-private partnerships, according to a USDOT press release.

Andrew Curtis, who has worked in the financial services industry advising on transportation infrastructure transactions, will serve as the BATIC’s executive director.

"He and his team will provide project partners and potential investors with the clarity and technical assistance they need to move more projects forward and reduce our nation's infrastructure deficit," Foxx said.

BATIC was established a year ago as part of President Barack Obama's Build America Investment Initiative, a government effort to encourage the use of private capital to complement government funding for projects. The center will assist project sponsors to navigate the procedural, permitting, and financial barriers to increased infrastructure investment and development.

BATIC will work with the American Association of State Highway and Transportation Officials (AASHTO) through a cooperative agreement to establish the BATIC Institute: An AASHTO Center for Excellence. The institute will aim to improve state DOTs and other public sector organizations' ability to effectively use project finance tools through a program of training, sharing best practices and technical assistance.

"Transportation departments are increasingly challenged to find the financial resources needed to maintain and modernize their aging infrastructure systems," said AASHTO Executive Director Bud Wright. "This institute is a vital resource for state and local government officials looking to identify and utilize 'real world' solutions to finance transportation projects."