This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aqua America Chairman: Private Investment Can Play Key Role In Repair Of Nation’s Infrastructure

Stocks in this article: WTR

Aqua America, Inc. (NYSE: WTR) Chairman and CEO Nicholas DeBenedictis said today that “Private companies have the capital and other resources necessary to be key players in the construction, repair and rehabilitation of our nation’s infrastructure.”

His remarks were made today at the Pennsylvania Economy League’s conference to introduce its Global Positioning Strategy for World Class Infrastructure in Greater Philadelphia.

“The Philadelphia region needs a strong public transportation system to get city residents to jobs in the suburbs and vice versa; and a strong and viable airport, because we’re both an international and historical city. As chairman of the Pennsylvania Convention and Visitors Bureau I feel strongly about the need for our recently expanded, world class convention center and its ability to bring more money into the city and region,” DeBenedictis said.

He added that none of this infrastructure, or the region’s economy as a whole, could be sustained without viable water and wastewater systems. “Water and wastewater service are basic needs required by everyone and that is why it is so important that our water distribution and wastewater collection systems and treatment plants be sustained.”

“There is an opportunity for private industry to play a key role in funding these infrastructure improvements,” said DeBenedictis. As an example, he cited the recent 40 th anniversary of the Clean Water Act, which he said led to major investments and the ultimate success of the regulatory process to clean up our streams from which we all benefit today. “When you consider private industry has made much of the investment that has led to improvements in improving our source waters, it begs the question of whether tax-supported grant programs are still needed. The recent success of the Clean Water Act could be an example that we can afford the true cost of service for our goods and services and do not require taxes to support government entities to do for us what the private sector can economically accomplish.”

DeBenedictis said Aqua America’s utility companies are a prime example of his assertion. “For the past several years, our utility companies have collectively invested more than $300 million annually to upgrade water and wastewater infrastructure in the nine states in which they operate,” said DeBenedictis. “Our customers pay for those improvements with their rates, which are still less than other utility services despite the fact that water and wastewater remain the most capital-intensive of all utilities, investing more capital for every dollar of revenue earned than any other utility.”

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs