What's Happening?
A report by the US Water Alliance, Stantec, and One Water Econ highlights the potential economic benefits of investing in water infrastructure. The report, titled 'Tapping Potential: The Economic Benefits
of Investing in Water Infrastructure,' suggests that closing the nation's water infrastructure investment gap could add $3.9 trillion to the U.S. GDP and generate $7.3 trillion in economic output over the next two decades. The study emphasizes the importance of modernizing water systems to support jobs, industry, and economic resilience. Federal investment in water infrastructure has decreased significantly, from 50% of all funding four decades ago to just 7% today, leaving many aging systems under strain. The report calls for urgent, sustained investment to protect public health and fuel economic growth, especially as water systems face challenges from emerging contaminants like PFAS.
Why It's Important?
Investing in water infrastructure is crucial for the U.S. economy, as it supports well-paying jobs and protects the economic output of critical industries. The report indicates that addressing the funding shortfall could support more than 1.4 million jobs annually while improving the reliability of drinking water, wastewater, and stormwater systems. Modern, resilient water systems are essential for metropolitan communities, which are the backbone of the U.S. economy. Additionally, rural communities face significant per-capita water infrastructure needs, and investment could ensure their sustainability, protect public health, and create economic opportunities. The report underscores the broader benefits of investment, including job creation, community strengthening, and innovation in water management.
What's Next?
The report serves as a roadmap for the nation to invest in water infrastructure and reap significant benefits for people, communities, and the economy. Leaders across the sector are echoing the call for urgent, sustained investment. The report is available through the Value of Water Campaign, and stakeholders are encouraged to unite for water to mitigate risks and costs associated with delays. The focus will likely be on securing federal funding and encouraging private investment to close the infrastructure gap and support economic growth.
Beyond the Headlines
The report highlights the ethical and environmental dimensions of water infrastructure investment. Clean water utilities play a critical role in protecting public health and the environment, and closing the investment gap will safeguard clean water and strengthen the U.S. economy. The investment also supports the $47 billion circular water economy and a resilient One Water future, advancing innovation in water management.
