Utah Statewide Water Marketing Strategies: Dynamic Tools to Facilitate Water Marketing

Utah Statewide Water Marketing Strategies: Dynamic Tools to Facilitate Water Marketing

Published 11-01-23

Draft Statewide Water Marketing Strategies Report, water marketing website, and dynamic resources. Please join us for a public open house on Nov. 7, details below.

SALT LAKE CITY, (Nov. 1) — The Board of Water Resources is pleased to announce pivotal milestones in water management with the release of the draft Statewide Marketing Strategies Report, online water marketing materials and dynamic resources for water users. With demand for water increasing, water marketing is one method of achieving multiple state-wide water priorities and policies. 

Water marketing utilizes market based principles, like leasing water, to better match local water demand and supply needs and is an exciting tool that allows local water users to set the terms and conditions over water use and management.   

The Statewide Water Marketing Strategies Report is the result of a three-year pilot program to test Utah’s Water Banking Act and develop water marketing strategies and resources for Utah water users. 

“Over the past three years, we’ve collaborated to test the Water Banking Act and make historic advancement in helping water rights holders and water users work together to use water in the most advantageous manner for the betterment of all,” said Juliette Tennert, chair, Board of Water Resources.

The Statewide Water Marketing Strategies Report documents the results of four pilot projects across the state and the lessons learned from exploring water marketing and the development of water banks. In addition, the project team has created a robust set of online resources, tips, tools, and templates to help Utahns understand water marketing and to streamline water marketing efforts. These resources reflect the input of hundreds of Utah stakeholders. The draft Report and  full set of materials and tools will be posted at UtahWaterBank.org by mid-November 2023.

Among other water marketing successes, the pilot project resulted in two water banks being created under the Utah Water Banking Act: the “Carbon Canal Company Water Bank,” which is the first contract water bank approved in 2021, and the “First Water Bank of Utah,” which is the first statutory water bank approved in October 2023. These water banks will allow local water users the ability to more quickly and easily transfer water between interested parties. 

“The First Water Bank of Utah ensures that water transactions are conducted ethically and in compliance with regulations,” said Ryan Goodrich, general manager of the Ashley Valley Water & Sewer.

“With input and support from hundreds of people across the state, we have been able to develop resources to help others more easily navigate the complex world of water marketing.’ Emily Lewis, project manager of the Statewide Water Marketing Strategies Project, said, “The Project Team is grateful to the thousands of hours stakeholders have contributed to make this project a success. We hope that all Utahn’s interested in water marketing will be able to take advantage of our report, the website and materials created. It is an exciting day in Utah.”

Interested parties are invited to attend a public open house to learn about the findings, results, and resources. A virtual option is available on the Division of Water Resources’ YouTube channel. The draft report will be made available for public comment after the Nov. 7 event with a final report sent to the Board of Water Resources by early December. 

Public Open House: Hyatt Regency Salt Lake City, 170 S W Temple Street 

Informational Event: 4 p.m.

Celebratory Event: 5:30 p.m.

Livestream: https://youtube.com/live/94LK2UCTHt0

RSVP for In-Person Attendance: ablanchard@clydesnow.com

For more information, visit water.utah.gov/water-marketing/ or contact Michael Sanchez, public information officer, at 385-226-8967 or email msanchez@utah.gov.

For board meeting information, visit https://water.utah.gov/comments/

###

The Utah Division of Water Resources is one of ten divisions housed within the Department of Natural Resources. Tasked with planning, conserving, developing and protecting Utah’s water resources, the division serves as Utah’s water steward.

Published March 7, 2024

SALT LAKE CITY (March 7, 2024) – Utah’s water outlook for March is marked by encouraging developments and notable records. Alta recently experienced its wettest February on record, showcasing the dynamic nature of our climate and its potential impact on water resources.  “Alta’s record-breaking February reminds us how much can change in a month,” Candice …

Read Full Article
Published February 28, 2024

The Larry H. & Gail Miller Family Foundation donated $2.2 million to the Antelope Island Learning Center and Utah Water Ways for Utah’s water conservation and educational outreach efforts.  Funding for the Antelope Island Learning Center will be routed through the Max McGraw Wildlife Foundation. The Max McGraw Wildlife Foundation is the nation’s leading advocate …

Read Full Article
Published February 15, 2024

SALT LAKE CITY (Feb. 15, 2024) – As we enter mid-February, Utah’s water supply exhibits promising signs of resilience and abundance. The state’s snowpack, consistently above normal levels for most regions, sets an optimistic tone for water conditions. 

Read Full Article