Toll road operator Transurban Group has rechristened Virginia – home to its biggest ‘Stateside’ market – as the centre of operations for its business in America.
Transurban, created in 1995 and globally headquartered in Australia, had called New York the seat of its US effort, but Peirce Coffee, marketing director, confirmed the publicly traded company has relocated 50 employees from the Big Apple to Alexandria, an independent city located adjacent to Fairfax County.
Transurban is chief investor and concessionaire of the ‘495 Express Lanes’ project, a $2 billion public-private partnership (PPP; P3) to toll Interstate 495 (I-495) or the ‘Capital Beltway,’ as well as a $1 billion toll road P3 involving Interstate 95 (I-95).
Governor Bob McDonnell in a statement credited each P3 as a job creator. Jennifer Aument, head of North America for Transurban, noted McDonnell last fall “urged us” to relocate to Virginia.
In addition to I-495 and I-95, Transurban in Virginia is investor and concessionaire to State Route 895 (SR 895). The Virginia road, also called ‘Pocahontas 895,’ marked the first-ever P3 for Transurban in America. Transurban is, however, preparing to relinquish possession of SR 895 to its creditors.