Hoosiers are set to see sweeping improvements to their drinking water and wastewater systems thanks to a substantial loan from the Environmental Protection Agency (EPA). At an event hosted at the Indiana Statehouse, EPA's Bruno Pigott announced a $196 million boost for infrastructure, targeting the state's growing population needs. This effort partners with the Indiana Finance Authority (IFA) with an eye towards modernizing services across the state.
According to the EPA, the loan will help finance improvements that are expected to benefit around 134,000 Indiana residents. A variety of projects are slated to receive support, ensuring that a both aging infrastructure is addressed and that service is expanded in communities experiencing increased demands. The funding is part of the SWIFIA program, which offers lower cost financing to help states tackle pressing water infrastructure projects.
Speaking on the partnership, Bruno Pigott expressed commended Indiana's proactive measures. "I want to congratulate the State of Indiana for securing a $196 million loan from EPA. Through our partnership, we will upgrade water infrastructure across the state to keep residents healthy, protect water resources, and create good-paying jobs while keeping water bills affordable," Pigott stated on EPA during the announcement.
Jim McGoff, IFA’s chief operating officer, emphasized his organization’s commitment to finding sustainable financial solutions. "The IFA is continually searching for alternative funding sources to keep pace with Indiana’s increasing water-infrastructure needs," McGoff told those gathered at the Statehouse on EPA. With the SWIFIA program assistance, Indiana plans to invest upward of $400 million in local water systems improvements.
The EPA, through its WIFIA programs, has committed over $21 billion in financing to support water infrastructure nationwide. The aim is not only to reinforce essential services but also to inject vitality into the job market, with an estimated 150,000 positions created in the process. For Indiana, this first SWIFIA loan adds to the more than $630 million in WIFIA financing previously secured for the state's water infrastructure efforts. With cost savings for Indiana residents amounting to over $130 million from previous loans, the tangible benefits of such investments continue to flow.
