The Ohio Department of Transportation (ODOT) announced that it is considering leasing the Ohio Turnpike to a private operator in return for a lump-sum payment in combination with annual payments provided throughout the entire term of the lease. ODOT is conveying that State and federal transportation funding is not expected to keep up with Ohio's future need. Additionally, the private lease is one of three possible solutions on the table, along with funding the Turnpike using a mix of private and public sources, as well as moving the Ohio Turnpike "under the Ohio Department of Transportation."
Should the Ohio Turnpike be leased to a private operator, the majority of the proceeds would go to Northern Ohio since those residents have been the Turnpike's main contributor and benefactor. Funds would also support local projects adjacent to the Turnpike, and a dedicated funding stream would support local bridges as well as public transit.
