New York plans to spend $50 billion on water infrastructure

08/14/2008 | Reuters

New York Gov. David Paterson has created a task force charged with finding ways to fund $50 billion in needed improvements to the state's water infrastructure. After a 70% drop in federal aid, Paterson said New York will have to spend some $36 billion on water treatment plants and $20 billion on drinking water systems. In a new report, the U.S. Conference of Mayors says every $1 spent on water infrastructure projects leads to an increase of $6.35 in the gross domestic product.

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