FORETHOUGHT - Whyte Hirschboeck Dudek SC

CATCH THE WAVE:
WISCONSIN’S WATER
RESOURCES CAN PROVIDE
OPPORTUNITIES FOR
BUSINESSES
Written by
Phillip R. Bower
Water appears to be an abundant
resource in Wisconsin. Two of the largest
bodies of freshwater in the world, Lake
Superior and Lake Michigan, border
Wisconsin to the north and east, while
the mighty Mississippi River fl ows along
its west. Wisconsin’s interior is dotted
and shaped by numerous inland lakes
and rivers, and groundwater wells have
provided reliable sources of water for
communities, agriculture and industry for
many years.
Today, however, there are numerous
competing uses for Wisconsin’s water
resources, including drinking, agriculture,
manufacturing, electric generation,
transportation, recreation, and tourism.
There are also many potential threats
to water supply and quality such as
increased demand, drought, fl ooding,
invasive species, pollution, urban and
agricultural runoff, and climate change.
While these uses and threats may result in
business challenges, they also can provide
opportunities for businesses that plan for
water impacts and work to safeguard this
important resource.
The Global Water Report 2012,
authored by Deloitte for the Carbon
Disclosure Project, surveyed 318
Global 500 companies. More than
half of the responding companies said
they experienced negative impacts
during the past fi ve years from waterrelated
issues, including water scarcity,
business interruption and property
damage from fl ooding, rising costs to
comply with discharge standards, and
regulatory uncertainty and poor water
quality. Compared to 2011, more of the
responding companies view water as a
substantial risk to their business and are
aware of supply chain risks.
These same challenges are present in
Wisconsin. During the past fi ve years,
Wisconsin has experienced signifi cant
fl ooding that caused signifi cant property
damage, closed major roads and drained
Lake Delton dry after a county highway
was washed out. During that same
period, Wisconsin suffered from severe
drought that strained water resources and
Business Challenges
REAL ESTATE / ENVIRONMENTAL 39