The Texas Comptroller of Public Accounts has recently issued the Texas Water: Present and Future Needs 2023 report, outlining both current and projected water supply dynamics. This report addresses various aspects, including water governance, rights, infrastructure, funding and environmental factors affecting water issues in Texas as outlined by the Texas Water: Present and Future Needs 2023 report provided by the Texas Comptroller of Public Accounts.
"Texas has experienced extraordinary growth in the 21st century, owing largely to its low cost of living and inviting business climate," the report stated.
The Texas Water: Present and Future Needs 2023 report reveals that the state's $2.4 trillion GDP in 2022 would rank it as the world's eighth-largest economy if it were a country. Over the 2000-2022 period, Texas experienced an annual GDP growth rate of 2.9%, surpassing the U.S. average of 1.9%. The state's population grew at a 1.8% annual rate, more than double the national average of 0.8%. This trend is projected to continue, with Texas' population expected to reach 51.5 million by 2070. These factors highlight the urgency of addressing Texas' water challenges, including aging infrastructure, extreme weather and growing water demand, according to the Texas Water: Present and Future Needs 2023 report provided by the Texas Comptroller of Public Accounts.
“With the population ballooning and businesses booming, it comes as no surprise that Texas will need a lot of water to stay afloat. But planning for Texas’ future water needs requires the dedication and resourcefulness of organizations and passionate individuals,” said Texas Comptroller of Public Accounts Glenn Hegar.
During the 2023 Texas Legislative session, Senate Bill 28 aimed to support the Texas Water Development Board's financial assistance and water supply projects. Texas voters will decide on a constitutional amendment in November 2023 to establish the Texas Water Fund, potentially financing state water projects. While Texas is making notable progress, sustained efforts are crucial to secure water supply for present and future generations, according to the Texas Water: Present and Future Needs 2023 report provided by the Texas Comptroller of Public Accounts.