ALEXANDRIA, Va. — The Sustainable Water Infrastructure Investment Act (H.R. 4237/S. 2345) will spur economic growth and job creation in the construction equipment industry by generating as much as $6 billion in demand and supporting nearly 1,000 employees over the next decade, said AED Chairman Tim Watters, according to a press release.
Watters, president of Hoffman Equipment, headquartered in Piscataway, N.J., joined Rep. Bill Pascrell and Sen. Robert Menendez in Cliffside Park, N.J., to support the legislation, reported the release.
The bill, which would attract $5 billion annually in private capital for water infrastructure investment, lifts the state volume cap on private activity bonds for such projects, noted the release.
Bolstering the nation’s water infrastructure today will help ensure the long-term health of the economy and provide stable and dependable employment for thousands of Americans, the release continued.
According to the release, water infrastructure investment is a win-win for everyone, including the government; according to an AED-commissioned study by researchers at the College of William & Mary's Thomas Jefferson Program in Public Policy, investing $1 in sewer systems and water infrastructure generates $2.03 in tax receipts (including $1.35 for the federal government) over 20 years.