OVERLAND PARK, Kan.--(BUSINESS WIRE)--Jun 6, 2023--
From the challenges of chronically aging infrastructure and regulatory and climate change pressures to opportunities such as data’s promise and an infusion of federal funds, the U.S. water sector’s complexities continue to evolve amid pushes for greater sustainability and resilience, the newly released Black & Veatch 2023 Water Report shows.
The report – expert analysis of survey responses from roughly 450 U.S. water industry stakeholders – details a sector still grappling with aging water and sewer infrastructure as its chief concern, followed by challenges of an aging workforce and efforts to hire qualified staff. Money issues – from justifying capital improvement programs to rate requirements and managing capital and operational costs – remain other top concerns, along with regulatory mandates.
Resilience and sustainability remain a prevailing theme, with two-thirds of respondents citing sustainability – what Black & Veatch defines as the need to serve the current generation while safeguarding the needs of future generations – as a critical strategic focus. Along the way, the survey shows promising evidence that the industry continues to wage a digital transformation – a key driver to resilience and sustainability, promoting better decision-making and optimal use of aging assets in a rate-restricted sector.
Headwinds add to the complexities of today’s water industry, from the impacts of climate change to the shifting regulatory landscape that includes the U.S. Environmental Protection Agency’s March announcement of its long-expected National Proposed Drinking Water Rule (NPDWR) to regulate a new category of toxins in drinking water. Worries about cyberattacks also haven’t abated.
But opportunity knocks, certainly on the funding front. The Infrastructure Investment and Jobs Act (IIJA) — or the Bipartisan Infrastructure Law (BIL), enacted in late 2021 as the largest federal investment in water in U.S. history – commits tens of billions of dollars to the sector. But just slightly more than one-quarter of respondents say their enterprise has applied for or will go after that funding, while more than four in 10 haven’t explored it nor have plans to pursue it.
“Throughout the ecosystem of U.S. water utilities, stakeholders continue to demonstrate agility and forward thinking as part of a “One Water” mindset that all forms of water — from drinking water to wastewater, stormwater, reclaimed water, indirect and direct potable reuse, and groundwater — are a singular resource to be managed sustainably,“ said Mike Orth, president of Black & Veatch’s governments and environment business.
“Headwinds in the form of regulatory uncertainty and climate change impacts accompany vast opportunities, from the full, powerful potential of data – what we call “digital water” – to the infusion of federal funding for an array of infrastructure upgrades illustrate the intensifying complexities and the promise of water,” Orth added. “The time is now to leverage innovation for the broader holistic integration and modernization that these times demand.”
The new report highlights a U.S. water sector – a fragmented industry, with more than 50,000 water utilities and 16,000 wastewater utilities – discovering new ways of doing business by holistically leveraging integrated approaches to both planning and delivering strategic, financial and operational resilience.
Some other key findings of the report include:
Editor’s Notes:
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2022 were US$4.3 billion. Follow us on www.bv.com and on social media.
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KEYWORD: UNITED STATES NORTH AMERICA KANSAS
INDUSTRY KEYWORD: WHITE HOUSE/FEDERAL GOVERNMENT SECURITY DATA MANAGEMENT ENERGY CLIMATE CHANGE SUSTAINABILITY TECHNOLOGY HUMAN RESOURCES PROFESSIONAL SERVICES OTHER NATURAL RESOURCES ENVIRONMENT PUBLIC POLICY/GOVERNMENT NATURAL RESOURCES DATA ANALYTICS UTILITIES
SOURCE: Black & Veatch
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PUB: 06/06/2023 10:00 AM/DISC: 06/06/2023 10:01 AM
http://www.businesswire.com/news/home/20230606005054/en