New Study Confirms American Water’s Infrastructure Investment Has Direct Economic Benefit and Creates High-Quality Jobs
March 22 2017 - 3:21PM
Business Wire
Investing $1 Billion in Water Infrastructure
Creates Approximately 16,000 High-Quality Jobs and Promotes Ongoing
Economic Activity
With water infrastructure capital needs growing rapidly, in 2016
American Water (NYSE: AWK) invested about $1.5 billion, the highest
in the company’s history, $1.3 billion of that investment was
dedicated towards regulated systems to improve service reliability
and water quality for customers. Now, according to a recent study
commissioned the Value of Water Campaign (VoW), there is
confirmation that these investments have a direct economic impact,
and prompt the creation of high-quality jobs.
“Investing in our water infrastructure is essential to the
future growth of our country. It not only ensures the public has
access to clean, safe, reliable water, but also creates jobs and
provides for continued economic prosperity,” said Walter Lynch,
chief operating officer of American Water.
The VoW report released today provides a framework for
understanding the economic impact of how investments in our
nation’s water infrastructure affect economic growth and
employment. The report, “The Economic Benefits of Investing in
Water Infrastructure,” was shared at a briefing on Capitol Hill,
and coincides with World Water Day and Water Week, global and
national efforts to draw attention to the need to invest in water
infrastructure.
American Water plans to invest more than $6 billion over the
next five years. Per the Water Research Foundation, $1 billion
invested in water infrastructure creates approximately 16,000 jobs,
meaning that $6 billion invested would mean 96,000 new jobs in the
communities American Water serves nationally.
“Investments in our infrastructure prove their value every day.
From projects to replace water mains, pipelines, and hydrants, and
the installation of advanced metering technology to help reduce
water leaks, to enhanced treatment capabilities improving
efficiency and reliability, the investments we’ve made ensure that
we are well positioned to continue to meet customer needs in the
communities that rely on us," said Lynch. "American Water has
proactively invested in needed system improvements, and it is
reassuring to see the research that supports the return on economic
investment.”
Radhika Fox, Executive Director of the Value of Water Campaign
said, “The report findings make it clear that investments in water
infrastructure generate high quality jobs, increases the
competitiveness of American businesses, and leads to a significant
injection of economic activity throughout the nation.”
The Value of Water Campaign educates and inspires the nation
about how water is essential, invaluable, and in need of
investment. Spearheaded by top leaders in the water industry, the
Value of Water Campaign is building public and political will for
investment in America's water infrastructure.
American Water is a supporter of the Value of Water Campaign.
Read the full report here.
With a history dating back to 1886, American Water is the
largest and most geographically diverse U.S. publicly traded water
and wastewater utility company. The company employs more than 6,800
dedicated professionals who provide regulated and market-based
drinking water, wastewater and other related services to an
estimated 15 million people in 47 states and Ontario, Canada. More
information can be found by visiting amwater.com.
Click here to subscribe to Mobile Alerts for American Water.
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American WaterJoseph SzafranExternal Affairs
Manager856-309-4690joseph.szafran@amwater.com
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