In its new report on infrastructure investment, the American Society of Civil Engineers (ASCE) says current trends indicate $126 billion will be needed for drinking water and wastewater infrastructure by 2020, resulting in an anticipated funding gap of $84 billion. If the problem is not addressed in coming years, capital investment required for water infrastructure is expected to rise to $195 billion by 2040, with a funding gap of $144 billion.
The report, Failure to Act: The Impact of Current Infrastructure Investment on America’s Economic Future, covers the gamut of transportation and electricity infrastructure, in addition to water and wastewater needs. ASCE found that between now and 2020, the projected $84 billion deficit for drinking water and wastewater infrastructure could lead to $206 billion in increased costs for businesses and nearly 700,000 in lost U.S. jobs. By 2040, water infrastructure underinvestment could put 1.4 million jobs at risk due to unreliable water delivery and wastewater treatment services, the report said. This is the fifth and final report in the ASCE Failure to Act series.