Since December 2004, when USDOT delivered the 2004 Report, there has been a dramatic increase of activity in the U.S. PPP market. This increase is primarily evident in (i) the execution of long-term concessions for the operation and maintenance of existing toll facilities, (ii) the procurement of new transportation capacity and capital improvements through long-term concessions for the design, construction, financing, operation and maintenance of such facilities, and (iii) developments at the state and Federal level to remove impediments to PPPs and promote their use. All levels of government in the United States are looking for innovative and creative ways to reform the traditional approaches to transportation funding and procurement and PPPs are an increasingly preferred alternative.