The Road to Prosperity

Ohio has recently commenced evaluating the best use of the Ohio Turnpike as a transportation asset and an economic development tool. Part of this evaluation includes consideration of whether or not it is in the best interest for the state to lease the Ohio Turnpike for much-needed transportation project dollars.

The federal government agreed to provide $1.5 million in order for the state to study all options available for the Ohio Turnpike and the state chose the New York-based KPMG LLP to lead a team of experts to study how best to leverage nearly $250 million in annual revenues.

Ohio owns the 241-mile roadway, but it operates independently from state government. The Ohio Turnpike is an economic boon for the Northwest Ohio region, attracting millions of dollars each year.

With the potential for future federal financial assistance to be cut, rising costs, and reduced gas-tax revenues, transportation project dollars could dry up by 2013. It is good public policy to review and optimize all the state transportation strategies.

That's why the leasing option and every other option deserve full consideration. Jerry Wray, director of the Ohio Department of Transportation said under a 50-year lease, Ohio would retain ownership of the Ohio Turnpike, and toll increases would be controlled by the lease contract.

Every $1 billion spent on transportation creates 27,000 jobs and accounts for billions of dollars in economic activity, said director Wray.

"Ohioans can expect the same, if not a better, quality turnpike that they enjoy today," Wray said. "What Ohioans can also expect are billions of additional dollars for transportation projects."

Money generated from a lease would be used on highway projects across the state, including the Ohio Turnpike.

KPMG is expected to present its findings this summer.

"In utilizing the turnpike's potential, we can keep Ohio's transportation system moving and keep Ohio moving as well, back on track to prosperity," Wray said.

http://www.dot.state.oh.us/news/Pages/OBM--ODOT-TAP-KPMG-TO-HELP-OHIO-STUDY-TURNPIKE-OPTIONS.aspx