WASHINGTON, DC, Jan. 16, 2015 -- The National Association of Water Companies (NAWC) applauds the Obama Administration for its proposals today to accelerate the important role of private sector capital and expertise in improving the nation's infrastructure, including its critical drinking water and wastewater systems.
President Obama established the Build America Investment Initiative last July to bring the best of the public and private sectors together to explore and identify innovative financing and management of the infrastructure necessary for economic growth and protection of public health and the environment in communities across the country. We are pleased that this initiative is leading to real solutions, and NAWC member companies are prepared to leverage the power of public-private partnerships to deliver the revitalization of U.S. water infrastructure that the Administration calls for.
The proposed Water Finance Center at the Environmental Protection Agency (EPA) will educate and advise cities and towns on effectively bringing private capital and management into their local water infrastructure project to meet their specific local needs (see "EPA launches innovative water finance center as part of WH investment initiative"). This "center of excellence" will help ensure that communities have the information and tools to explore all opportunities for innovation in project finance, delivery and operations. NAWC and its members look forward to bringing their long experience with successful partnerships to this process.
NAWC agrees with the Administration that its proposal for Qualified Public Infrastructure Bonds (QPIBs) will lead to increased private capital investment in public infrastructure and facilitate long-term partnerships for building and managing water systems. QPIBs address a real impediment that municipalities face in trying to combine the lower cost of tax-exempt financing with the efficiencies of private management and operations, and we will work with the Administration and others supporting this legislative proposal. In addition, the existing Private Activity Bond program remains an important mechanism for investing in the nation's water infrastructure, and we will continue to pursue reforms that will provide for even greater private investment.
See also:
"NAWC executive director makes statement on growing water infrastructure support"
"Federal initiative provides resources for water infrastructure investment"
About the NAWC
The National Association of Water Companies is the voice of the private water industry and the organization exclusively representing this group of quality water service providers, innovation drivers, creative financiers and responsible partners. For more information, visit www.NAWC.org.
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