Earth’s inhabitants could not live without water, and neither could our businesses. Without a substantial water supply, new companies can’t break ground, existing businesses can’t expand, and as a result, the economy suffers. Concern over safeguarding the country’s water infrastructure prompted the United States Environmental Protection Agency’s Water Infrastructure Finance and Innovation Act (WIFIA) to fast-track investment in significant projects to support regional and national water supply. To date, 45 WIFIA closed loans have accumulated to total $9 billion in credit assistance to finance $19.4 billion in water infrastructure projects. The initiative also supports approximately 47,000 jobs.
When considering relocation, choosing an area with ample water and sewer supply is critical. Some municipalities, especially those with more commercial business needs than space/land available, might be close to maxing out their resources, making future expansion impossible. Industries that require a high output of water, like biopharma and life sciences, need to be especially cautious of water infrastructure during site selections. Without proper delivery of clean water and the treatment & removal of wastewater, meeting the requirements of strict discharge regulations would be an incredible challenge.
TheValueofWater.org draws a clear picture of the grappling need for widespread investment in our nation’s water systems. As this infrastructure, some of which was built centuries ago, continues to age and deteriorate, it becomes less dependable. Every two minutes, there is a water main break somewhere in the United States, wreaking up to 300,000 breaks annually. According to the American Waterworks Association (AWWA), the majority of our country’s drinking water pipes will require replacement or repair by the year 2040, which directly impacts the prosperity of the U.S. economy. As a nation, underinvesting in water infrastructure has put funding needs in deficit of $81 billion in 2019, with the potential for this gap to soar to $136 billion 20 years later.
One of the many benefits of building a business in or relocating to Mansfield is the extensive investments that have been made to our local water infrastructure over the years. Unlike the significant nationwide dilemma, Mansfield has devoted millions to maintaining a widely available and reliable water supply and wastewater removal system. Without infrastructural limitations, businesses in Mansfield have the freedom to thrive and produce without constriction. Biopharma can meet mandatory regulations with ease, continuing to expand research and development successes. Businesses in Mansfield are able to expand and grow, creating a ripple effect of wealth and prosperity, while welcoming economic development growth throughout the community. Mansfield recognizes the true impact that water has on society and will continue to protect this amazing resource even as its skyline grows and changes to include new businesses and residents.
For more information on the benefits that the Town of Mansfield offers to its residents and business partners, visit https://www.mansfieldma.com/.