P3 Global Management Inc. commits to entering into a smart technology public-private partnership with one interested U.S. city within the next year. P3GM will manage, align, identify, fund and then execute the capital investment to design, develop, and manage a range of smart city solutions. In the initial rollout, this platform could include the following:
Smart Lighting: In cooperation with the city, P3GM will provide LED lighting solutions, attaching several services to a unified wireless system which affords the city future innovation opportunities, including the ability to remotely alter lighting brightness, monitor CO2 emissions, and use video feeds for safety and traffic management;
Broadband: Expand broadband infrastructure to develop networks in targeted commercial and industrial corridors to foster innovation, drive job growth, and stimulate the economy. This approach will also provide internet access to underserved and disadvantaged residential areas;
Interactive Wayfinding Kiosks: Kiosks provide residents and visitors with wayfinding, community announcements, public service messaging, events, incentives, entertainment bookings and security alerts all connected at one source;
Wi-Fi Hot Spots: Each kiosk locale becomes a Wi-Fi hot spot with streaming camera capability providing street level contact, rich data recovery, and social connections.
External Centralized IT Operations and Maintenance: Integration of state of the art back-up and business interruption services will reduce costs and allow cities to more easily stay current with software version management. Various options are available for centralized U.S. based IT outsourcing which meet the ongoing requirements of a smart city environment.
This program represents an interactive approach in the ways cities communicate, innovate, and mine data by leveraging media and technology to enhance its existing infrastructure. Street assets like lighting fixtures, for example, are often overlooked as possible catalysts for innovation and revenue generation. If connected, integrated, and operated at higher levels of effectiveness through a unified wireless network, they offer countless verticals for long-term benefits.
P3GM's initial goal is to sign one public private partnership agreement by the end of 2013. The approach will be as follows:
Stage 1: P3GM is in the process of identifying the first city to partner with by engaging in discussions with mayors and local representatives from numerous U.S. cities. P3GM engages local policy makers through its internal and external government relations specialists, attending conferences, and through its website, brochures and other informational materials. P3GM has received an excellent response to its initial efforts and is currently in early stage discussions with five municipalities. (Ongoing)
Stage 2: P3GM will work with the mayor, city council, or equivalent, and their respective designees to develop a customized smart city solution investigating various technologies that may have an immediate benefit (Tier 1). The outcome of this phase will be a signed P3 agreement. (Up to 90 days)
Stage 3: Once various solutions are identified and agreed upon, P3GM will work with media and technology partners to select subcontractors to deliver each Tier 1 solutions in an efficient, cost effective manner. (Up to 120 days)
Stage 4: Negotiate subcontractor contracts, including a Service Level Agreement (SLA) and Key Performance Indicators (KPIs) for each Tier 1 solution. (up to 60 days)
Stage 5: Engage municipal officials in final rollout plan, i.e. locations, timing, neighborhood considerations, etc. (up to 60 days). At this stage P3GM will ensure the developed plan is ready to be implemented and meets the ongoing requirements of the municipal entity.
Stage 6: Implementation of Tier 1 Solutions (30 days to 2 years, depending on size and complexity)
Cities and regional transit authorities across the United States are facing significant funding hurdles that limit economic growth, revenue and resource creation, service delivery, and reinvestment in public infrastructure. The financial situation in many municipalities has forced officials to focus on providing basic core services, neglecting 21st century needs and potential revenue sources, such as media, technology, and sustainability investments. These investments could attract jobs, promote tourism, and act as an economic engine. In addition, the digital divide continues to perpetuate economic inequality and interfere with economic growth. City residents have only a 47% rate of home broadband adoption compared to 51% of suburbanites. And those with some high school education were much less likely to adopt broadband at home (30%) than those with a college degree (84%). Therefore, it is incumbent on municipal entities to seek a viable solution to promote investment and equitable access.
Innovative long-term public private partnerships could address these needs by bringing technology to cities while simultaneously addressing some of a municipality's current financial needs, and increasing expected municipal revenues in the future. Assisting cities to modernize their urban landscapes to be more technologically connected will provide content rich experiences for residents, businesses, students, and tourists, and drive economic development by linking needs to information resources. For example, internet enabled kiosks can increase citizens' access to news, wayfinding, real time transit information, emergency messaging, Wi-Fi hotspots and more, while smart lighting and smart parking provide needed services while simultaneously reducing a city's carbon footprint. Enabling cities to proactively invest in and efficiently manage its smart street infrastructure will enhance civic well-being across three key domains: social, environmental, and economic; significantly improving the overall vitality, sustainability, and livability of the city.