Global Water Resources Receives ACC Permit for Inland Port Arizona Mega Site, Expanding Certificated Service Area by 3.4 Square Miles

Rhea-AI Summary

Global Water Resources (NASDAQ: GWRS) has obtained a Certificate of Convenience and Necessity from the Arizona Corporation Commission to deliver water, wastewater, and recycled water services across a new 3.4 square mile area in central Arizona. This region, part of the Inland Port Arizona project developed by Saint Holdings, spans approximately 2,200 acres. The area is anticipated to generate significant commercial and residential growth, following agreements with the City of Coolidge to provide essential water services. The project aligns with the expected population doubling in Pinal County by 2030.

Positive

• Received Certificate of Convenience and Necessity permit from ACC.
• New service area covers a strategic location in the Inland Port Arizona, enhancing potential growth.
• Anticipated commercial and residential development boosts future revenue prospects.

Negative

• None.

PHOENIX, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), (TSX: GWR), a pure-play water resource management company, has received a Certificate of Convenience and Necessity permit from the Arizona Corporation Commission (ACC) to exclusively provide water, wastewater, and recycled water services to a 3.4 square mile region in the central Arizona corridor between Tucson and Phoenix.

The new service area comprises approximately 2,200 acres of the rail-served Inland Port Arizona, a 2,700-acre mega-site that is currently under development by Saint Holdings, the developer who requested the service. Global Water expects to receive permitting for the remaining acreage as additional services are requested by the developer.

Saint Holdings has designed the site to support the manufacturing and distribution needs of incoming businesses. Inland Port Arizona is positioned within the City of Coolidge’s 30-square-mile southern planning area where economic development projects are underway.

“This mega site represents our first industrial service area,” said Ron Fleming, chief executive officer for Global Water Resources. “We expect its development to stimulate commercial and residential growth in the surrounding area where we can also provide essential water services.”

The permits follow the signing of agreements with the City of Coolidge and Saint Holdings for Global Water to provide water, wastewater, and recycled water services to a large portion of the 30-square-mile planning area.

“Global Water has demonstrated to be a strong water resource management partner that will help us with the development of Inland Port Arizona’s related infrastructure as the area continues to grow and expand,” said Saint Holdings president, Jackob Andersen. “We are actively marketing development-ready parcels with infrastructure improvements in progress, and we expect construction projects for industrial, manufacturing and data centers to begin next year.”

Inland Port Arizona is located in the heart of the Sun Corridor in Pinal County, a megaregion that is expected to double in population by 2030 according to Saint Holdings. Pinal County is at the epicenter of the Southwest’s explosive economic growth, driven by rapid residential, commercial and manufacturing expansion.

About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 16 utilities which provide water, wastewater, and recycled water services. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually.

The company has been recognized for its highly-effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle by owning and operating water, wastewater and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. TWM includes additional smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth. To learn more, visit www.gwresources.com.

Company Contact:
Michael J. Liebman
SVP and CFO
Tel (480) 999-5104
mike.liebman@gwresources.com        

Investor Relations:
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566
GWRS@cma.team        

FAQ

What is the significance of the Certificate of Convenience and Necessity permit for GWRS?

The permit allows GWRS to provide essential water and wastewater services in a newly designated area, facilitating business and residential growth.

How large is the new service area designated for GWRS?

The new service area is approximately 3.4 square miles or about 2,200 acres.

Who is developing the Inland Port Arizona project associated with GWRS?

Saint Holdings is the developer behind the Inland Port Arizona project.

What future developments are expected in the new service area of GWRS?

Construction projects for industrial, manufacturing, and data centers are expected to begin next year in the new service area.

What impact does the Inland Port Arizona project have on Pinal County's growth?

The project is anticipated to stimulate significant economic growth, contributing to a population that is expected to double by 2030.