Port Privatization: Virginia has another choice
Below is a recent article I published in the Jefferson Policy Journal regarding Virginia’s port privatization efforts.
This spring, the Commonwealth will make an important decision on how to move forward with the public-private partnership proposals it has received to privatize The Port of Virginia. Virginia has two well-qualified port operators interested in bringing their expertise and capital to Virginia in return for full business and operational control of the port, as well as the long term rights to the future profits it generates.
However, Virginia may not need to fully relinquish its control in order to meet its objectives.
In town halls, General Assembly rooms and watering holes across the Commonwealth there is a healthy and vibrant debate occurring on which choice makes the most sense for Virginia. The Commonwealth has at least one additional option that isn’t being discussed. There is a solution that falls squarely between the “do nothing” alternative and the “full privatization” options currently being contemplated. And it is a solution that allows Virginia to retain complete control over the assets, operations and revenues of the Port of Virginia.