BRYN MAWR, PA, Feb. 5, 2009 -- Aqua America Inc. Chairman and CEO Nicholas DeBenedictis commented on the positive potential impact for the water and wastewater industry of the proposed economic stimulus plan while speaking at the 16th Annual Emerald Groundhog Day Investment Forum in Philadelphia, Pennsylvania. DeBenedictis said, "Proposals in the current stimulus plan include plans to increase revolving loan funds, increase tax-exempt financing and continue the accelerated bonus tax depreciation of the 2008 economic stimulus plan."
DeBenedictis continued, "Increases to revolving loan funds which allow Aqua to access tax-exempt, low-interest government loans and increases in tax-exempt financing should benefit the company in its continued investment in needed water and wastewater infrastructure improvements."
"Extension of accelerated bonus tax depreciation benefits from the 2008 economic stimulus plan would allow Aqua to invest in more water and wastewater infrastructure projects in 2009," added DeBenedictis.
These potential inclusions in the stimulus plan are beneficial to both Aqua customers and shareholders according to DeBenedictis. "Access to low-interest financing will help Aqua continue its long-term strategy of investing in infrastructure improvements to enhance the future dependability of our service," said DeBenedictis. "Savings in interest expense accrues to the benefit of our rate payers in the PUC-approved rate structure."
Aqua America Inc. is a publicly traded water and wastewater utility holding company with operating subsidiaries serving approximately three million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Indiana, Florida, Virginia, Maine, Missouri and South Carolina.
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