Press Release - Request for Proposals sought by City of Gary and Airport Authority for Public-Private Partnership to Invest in Airport and Surrounding Area
RFP for the Development and Management of the Gary/Chicago International Airport
and Related Assets
Final Request for Expressions of Interest and for Qualifications (REIQ)
Download 12 page report
Ad Hoc Committee P3 Report Overview (.ppt)
Team of Experienced Advistors Selected to Explore Public-Private Partnership to Invest in Chicago's Third Airport and Surrounding Region (.pdf)
A P3 is a public-private partnership (contractual agreements) formed between a public agency and a private sector entity to allow for greater private sector participation in the delivery and financing of transportation projects.
A P3 agreement the between the Airport Authority, the City of Gary and private management company will provide:
- financial investment and capital for the airport and surrounding properties;
- management and operations of the airport; and
- increased business growth and development.
Potential Economic Impact
The best strategic investments in the airport will:
- attract more businesses from around the world;
- create good-paying jobs; and
- expand ground capacity for better service throughout the Indiana-Illinois region.
The Northwest Indiana Regional Development Authority estimates the economic impact of a revitalized Gary/Chicago International Airport would bring:
- $400 million in capital investment;
- 2,400 direct and indirect jobs; and
- produce an annual economic output of $526 million from airport-related activity.
Please leave a comment. The Gary/Chicago International Airport Authority welcomes your feedback.