What's Happening?
A new report by the US Water Alliance, Stantec, and One Water Econ reveals that addressing the U.S. water infrastructure investment gap could significantly boost the nation's economy. The study, titled 'Tapping Potential: The Economic Benefits of Investing
in Water Infrastructure,' suggests that closing this gap could add $3.9 trillion to the U.S. GDP and generate $7.3 trillion in economic output over the next 20 years. The report emphasizes the critical role of water infrastructure in supporting jobs, industry, and economic resilience. Federal investment in water infrastructure has decreased from 50% of all funding four decades ago to just 7% today, leaving many aging systems under strain. The report calls for urgent investment to support over 1.4 million jobs annually and improve the reliability of drinking water, wastewater, and stormwater systems.
Why It's Important?
The findings underscore the importance of water infrastructure as a foundation for economic growth and public health. Investing in water systems not only supports well-paying jobs but also protects the economic output of critical industries. The report highlights the risks of delaying investment, which could lead to increased costs and challenges from emerging contaminants like PFAS. For rural communities, the stakes are particularly high, as they face steep per-capita water infrastructure needs. The report advocates for sustained investment to ensure these communities remain sustainable and economically viable. Overall, the study presents a roadmap for leveraging water infrastructure investment to drive economic benefits across the U.S.
What's Next?
The report calls for a united effort to invest in water infrastructure, emphasizing the need for modern, resilient systems to support metropolitan and rural communities alike. Leaders in the water sector are expected to push for increased federal funding and policy changes to address the investment gap. The report's findings may influence legislative discussions and budget allocations, as stakeholders seek to protect public health and fuel economic growth. The focus will likely be on creating a sustainable, circular water economy that advances innovation in water management.
Beyond the Headlines
The report highlights the broader implications of water infrastructure investment, including the potential for innovation in water management and the development of a $47 billion circular water economy. It emphasizes the role of clean water utilities in safeguarding public health and the environment, and the need for investment to strengthen the entire U.S. economy. The study also points to the importance of addressing emerging contaminants and ensuring the sustainability of rural communities.
