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2023 Economic Review and 2024 Outlook - Water Supply01-26-24 | Feature

2023 Economic Review and 2024 Outlook - Water Supply

by Staff

Water Supply

The 2023 State of the Water Industry survey, conducted by the American Water Works Association, reflects increasing optimism among water professionals about the water sector's ability to address infrastructure challenges and enhance current systems, which were recognized as two of the main factors facing the water industry. Despite climate change threats, aging infrastructure, and water supply risks, optimism has been on the rise since 2021. The survey identifies key challenges, with the rehabilitation and replacement of aging water infrastructure topping the list and financing for capital improvements ranking third. While recent legislation, such as the U.S. Infrastructure Investment & Jobs Act (IIJA) and the Water Infrastructure Finance and Innovation Act (WIFIA), offers potential federal funding, organizations are assessing funding strategies and project timelines to navigate challenges in the water sector.


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