Oklahoma could net billions by leasing out its turnpike system, foundation says

The Oklahoman
 By RANDY ELLIS

August 26, 2020

Oklahoma could net between $2.3 billion and $4.5 billion by leasing its turnpike system out to a private toll road company for 50 years, according to a study released Tuesday by a Los Angeles-based foundation.

“States like Oklahoma need to examine if they are maximizing the value of their existing toll roads," said Robert Poole, author of the study and director of transportation at Reason Foundation, the Los Angeles-based think tank that released the report.

"Based on the valuations of overseas toll roads in recent transactions, we found Oklahoma would have significant net proceeds after paying off outstanding tax-exempt toll road bonds as required by U.S. tax law.”

Oklahoma Secretary of Transportation Timothy Gatz urged caution in considering any such proposal, saying Oklahoma would be sacrificing some long term benefits for short term gain.

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