Global Water Resources Celebrates a New Era in Water Management
PHOENIX -- Global Water Resources, Inc. (NASDAQ: GWRS), a dedicated water resource management company, recently applauded the significant implementation of Arizona's Assured Water Supply "Ag-to-Urban" program. This initiative marks a crucial step toward improving water sustainability, enhancing housing opportunities, and fostering economic growth within the state.
The essence of the program is to empower landowners transitioning from agricultural operations by enabling them to channel their water rights into municipal uses. Historically, irrigated farmland has consumed a substantial amount of water—an average of 3.8 acre-feet annually per acre in Phoenix’s Active Management Area (AMA) and 3.0 acre-feet in the Pinal AMA. The transformation allows this water to be used in residential development, which requires far less, thus alleviating pressure on local aquifers.
Ron Fleming, the president and CEO of Global Water Resources, expressed gratitude for the efforts of local leaders, including Governor Katie Hobbs and Senator T.J. Shope. Their commitment to advancing water stewardship and ensuring regional resilience has paved the way for meaningful changes in the community.
The Ag-to-Urban initiative is poised to greatly enhance the water utilities operated by Global Water. The company's largest utilities, Global Water – Santa Cruz Water Company, Inc. and Global Water – Palo Verde Utilities Company, Inc., serve over 56,000 active service connections around Maricopa. This transition will not only bolster the company’s operations but also contribute to the long-term sustainability of Arizona's aquifers, particularly the critical aquifer beneath Maricopa.
As noted by the Arizona Department of Water Resources, approximately 384,000 acres of farmland across the Phoenix and Pinal AMAs are eligible for this conversion. The potential to support over one million new homes underscores the program’s importance. It ensures that developers comply with a 100-year assured water supply requirement, effectively addressing the gap between water availability and the state’s growing housing demand.
Jake Lenderking, the SVP of Water Resources and Legislative Affairs, highlighted the pragmatic approach taken by this legislation. It signifies a sustainable path that allows water to be allocated effectively, benefitting both environmental goals and the needs of expanding communities.
Global Water Resources anticipates that the Ag-to-Urban program will play a pivotal role in advancing its strategic focus on Total Water Management (TWM) in its service areas. The company's vision is to maximize water utility efficiency, ultimately serving hundreds of thousands more customers as it continues to refine its TWM practices while leveraging its existing water supplies.
About Global Water Resources
Global Water Resources, Inc. stands as a prominent water management entity operating 39 systems dedicated to providing water, wastewater, and recycled water services. The company’s focus is predominantly in growth areas around the Phoenix and Tucson metropolitan regions. Since 2004, Global Water has recycled over 1 billion gallons annually, totaling more than 18.1 billion gallons.
Renowned for its effective Total Water Management approach, Global Water integrates various water utility services within the same geographical regions. This integration enhances recycled water use, allowing the company to implement innovative water management solutions, such as advanced metering and rate designs that promote conservation. TWM plays a vital role in preserving precious water supplies in regions facing expanding populations.
The company has garnered multiple industry accolades, including recognition as a ‘Utility of the Future Today’ for its excellence in water reuse practices. Global Water has also received the Cityworks Excellence in Departmental Practice Award, acknowledging its leadership in applying intelligent asset management strategies.
Company Contact Information
Michael Liebman
CFO and SVP
Tel (480) 999-5104
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
Encore Investor Relations
Tel (949) 432-7450
Email contact
Frequently Asked Questions
What is the Ag-to-Urban program?
The Ag-to-Urban program is a legislative initiative allowing agricultural landowners to convert their water rights for urban development, promoting sustainable water use.
How does the program benefit Global Water Resources?
This program enables Global Water to expand its water supply for municipalities while enhancing its service utilities, ultimately improving community water sustainability.
What role does Total Water Management play in this initiative?
Total Water Management is a strategic focus for the company, integrating various water services to optimize resource use and promote conservation effectively.
How many homes can the Ag-to-Urban program support?
The initiative has the potential to accommodate over one million new homes through the conversion of eligible agricultural land.
Who can be contacted for more information about Global Water Resources?
For inquiries, you can contact Michael Liebman, the CFO and SVP, or reach out to the investor relations team at Encore Investor Relations.
