Public Private Partnership
Public Private Partnership is one of the good tools for economic development. I have heard and learnt a little bit about the public private partnership through very few practices in the program that I work for. One of them of them was an unsuccessful practice in clean water supply and the other was a successful one with seed company in provide training service to farmers. Other than that, I have not known how else it could work out for.
From the meeting with the Lee's Summit Economic Development Council today, I have learnt another example of Public Private Partnership; that is the partnership between a high school and private company. A company partners with a school to provide technical skill trainings for high school students, so the students can start working right away if they do not want to go to colleges. The company also offers comprehensive courses to high school junior and sophomore which equivalent to college degree, so those high school students are capable enough to start working earlier. The company also provides chances for internship for the students who attend the training course. By doing this, the government helps secure the job availability for their people. In exchange to that, the government offers the tax abatement. However, from the meeting, I have learnt that the tax abatement is only one little attraction to the private business. What is more attractive is the outstanding performance and commitment of the local governments and of the people with whom the company work with (e.g the LSEDC) in trying to bring development and help to their community.
So from this example, I believe public private partnership really helps a lot with economic development of the community. And to have a successful partnership, both parties need to have common understanding of the goal(s) for the partnership and thus effectively cooperate with each other to achieve that on a win-win strategy. Also, if the government wants to attract more of this kind of partnership, the government has to be transparent and reliable and not doing it for personal benefit.