Politics & Policy

The Governors' Garage Sale


Highways

Garden State Parkway and New Jersey Turnpike Toll Collection
In Play
Revenue potential! New Jersey's toll booths look out on 321 miles of asphalt and tastefully landscaped medians. Dramatic views of belching refineries and factories. About $950 million was collected in 2009.

Ohio Turnpike
In Play: Asking Price - $3.0 billion* or Best Offer
This 241-mile stretch of Americana could be yours. A pleasant drive takes you through the Rustbelt, near Youngstown, Cleveland, and finally Toledo. Amenities include state-of-the-art service plazas. Produced $232 million in tolls last year. Routine maintenance required.

Indiana Toll Road
Sold! $3.8 billion
Own this lovely 157-mile stretch of road from Ohio to Illinois, with connections to Chicago. Views of Lake Michigan and travel plazas named after Booth Tarkington and other Hoosier luminaries complete the picture. Toll money is yours for 75 years.

Florida I-595 Expansion
Sold! $1.2 billion
Florida seeks partner to upgrade 10.5-mile commuter road from Fort Lauderdale to tony Weston. Finance, build, and maintain this link between the Everglades and the white sand beaches of the east coast. Winning bidder gets $66 million a year for 35 years and $686 million for reconstruction.

lottery

Ohio Lottery
Take a megachance on a state lottery system. More than 8,800 retailers peddled tickets worth $2.5 billion last year. You just might hit the jackpot!

Prisons

Ohio Prisons
A rare opportunity to own a piece of one of the U.S.'s largest correctional systems, home to 51,000 disciplined guests. In 2009 they performed more than 5 million hours of community service and grew crops that supplied 12 food banks. More than 30 facilities to choose from.

BOOZE BUSINESS

Pennsylvania Liquor Stores
In Play: Asking Price - $2 billion* or Best Offer
Own a real monopoly: 634 state-owned retail establishments selling liquor, wine, and beer. The stores, which generated $453 million last year, come with 3,800 trained unionized workers.

Ohio Liquor Stores
In Play: Asking Price - $2.5 billion* or Best Offer
Own the Buckeye state's liquor distribution system that sells to 425 liquor stores catering to residents across the state.

BRIDGES AND TUNNELS

New Goethals Bridge
In Play: Asking Price - $1 billion
Teardown with potential. The replacement for this 82-year-old, 1.4-mile span between New York's Staten Island and Elizabeth, N.J., needs to be high enough for cargo ships to slip underneath but not too high to block flights from conveniently located Newark Airport. Owner pays you back with interest over 30 years.

Chicago Skyway
Sold! $1.8 billion
Glide over South Chicago on this 7.8-mile elevated highway connecting downtown with the Indiana Toll Road. Keep it in good order, and the tolls are yours for 99 years.

Miami Port Tunnel
Sold! $1.1 billion
State of Florida seeks long-term partner to finance, build, and maintain a 3.6-mile underwater tunnel linking Miami's offshore cruise ship and cargo port to the mainland. Partner gets $450 million for construction plus $32.5 million annually for 35 years.

PARKING OPERATIONS

Los Angeles Garages
Lease nine garages with more than 8,300 spaces in the upscale neighborhoods of Sherman Oaks, Westwood, Studio City, and Hollywood and collect the parking fees for 50 years. The City Council just took this exciting offer off the market—but the right bid might change their minds.

Chicago Meters
Sold! $1.15 billion
Lease 36,000 parking meters in vibrant Midwest city. The coins are yours for 75 years. Income potential: at least $11.6 billion.

* Asking prices are governors' or analysts' estimates

Hart is a reporter for Bloomberg News.
Niquette is a reporter for Bloomberg News in Columbus, Ohio.

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