Illinois American Water Plans To Build New Elevated Water Tank on Market Street in Champaign
CHAMPAIGN, Ill.--(BUSINESS WIRE)--Illinois American Water is planning to begin construction in late 2025 on a new water storage tank that will enhance the overall water delivery system in Champaign, as well as fire protection.
The new water tank will be located just north of I-72, and is being built to replace the existing, 78-year-old Market Street Elevated Tank located just south of I-72 near Market Place Mall. Ongoing inspections of the existing elevated water tank have indicated that it is reaching the end of its useful life. It was constructed in 1947.
'The new tank will nearly double the existing tank water storage volume of 1 million gallons to better support the Champaign community that has grown and expanded greatly over the past 80 years,' said Luke Esteppe, Director of Operations, Illinois American Water.
Construction is expected to start on the new water tank later this year with completion expected in late 2026. The project is expected to cost approximately $4.5 million.
This construction project is one of several large investments made by Illinois American Water in the past three years to help support safe, clean, reliable water in its Champaign service area. The following are two completed projects at the company's Champaign water treatment plant, totaling more than $13 million:
Lime Improvements:
This $9.62 million project consisted of the construction of a new lime storage and batch delivery system at the Mattis Water Treatment Plant to replace 25-year-old equipment that had reached its end of life and experienced reliability issues. The project consolidated the chemical facilities on the water plant's site to improve operational efficiencies and remove the original facility chemical building that was built with the original plant during the 1960s. River City Construction of Peoria was the contractor. Construction started in 2020, and the improvements were completed in early 2022.
Backwash Recycle Pump Station Improvements:
This $3.47 million project renovated several key underground vaults to provide safer and easier access to the equipment to allow for better maintenance and control over the pumps and valves associated with the facility recycle system. The improvements increase facility reliability and enhance operational flexibility. River City Construction of Peoria performed the work. Construction started in late 2022, and the improvements were completed in early 2024.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water's 6,700 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About Illinois American Water
Illinois American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing high-quality and reliable water and wastewater services to approximately 1.3 million people. American Water also operates a quality control and research laboratory in Belleville.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
TSMC CEO Tells Trump $100 Billion US Chip Expansion Will 'Take Time' Amid Tariff Pressures, Surging AI Demand
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) CEO C.C. Wei revealed during Tuesday's shareholder meeting that he informed President Donald Trump that establishing a proposed $100 billion U.S. manufacturing venture will 'take time,' beyond the anticipated timeline. What Happened: Wei disclosed that TSMC has maintained ongoing dialogue with the U.S. Commerce Department regarding Trump's semiconductor tariffs since their implementation, reported Baha Breaking News. Don't Miss: Start investing with eToro's CopyTrader — mirror top-performing traders with no management fees, and receive a $10 bonus when you deposit $100 today. Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today. The CEO expressed concerns that higher duties would elevate TSMC's U.S. production costs, though he emphasized that tariff policies remain 'ultimately a matter between governments, not between a government and a company.' Despite tariff headwinds, Wei assured investors that artificial intelligence chip demand continues to substantially outpace supply capabilities. Why It Matters: The CEO explained that while tariffs don't directly impact TSMC as an exporter, they create indirect pressure through higher import costs for customers. 'Tariffs can lead to slightly higher prices and when prices go up, demand may go down,' Wei noted. TSMC's cautious stance on U.S. expansion comes as the chipmaker weighs the massive $100 billion investment over four years to build advanced manufacturing facilities stateside. The company has already committed over $65 billion to Arizona fabrication plants for advanced chip production. Read Next: Nancy Pelosi Invested $5 Million In An AI Company Last Year — Here's How You Can Invest In Multiple Pre-IPO AI Startups With Just $1,000. Invest Where It Hurts — And Help Millions Heal: Invest in Cytonics and help disrupt a $390B Big Pharma stronghold. Photo courtesy: Jack Hong / This article TSMC CEO Tells Trump $100 Billion US Chip Expansion Will 'Take Time' Amid Tariff Pressures, Surging AI Demand originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why Scotts Miracle-Gro Stock Popped by 11% Today
Scotts Miracle-Gro reiterated its guidance for the entirety of the current fiscal year. It has forecast modest growth in revenue. 10 stocks we like better than Scotts Miracle-Gro › One of the better sources of growth in the stock market on Thursday could be found with Scotts Miracle-Gro (NYSE: SMG) shares. The veteran gardening supplies company enjoyed an 11% surge across the trading session, after it reiterated its bullish guidance for the entirety of its fiscal 2025. And that was on a generally bearish day for the market as a whole, as the S&P 500 (SNPINDEX: ^GSPC) landed in negative territory with a 0.5% dip. Before the market open, Scotts felt compelled to update investors on its projections for the fiscal year. The company is sticking to its existing forecasts, which are counting on U.S. consumer net sales growing at a low-single-digit percentage rate compared to fiscal 2024,with non-GAAP (generally accepted accounting principles) adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) coming in at $570 million to $590 million. The company has not provided net income guidance. That contrasts favorably with the average consensus analyst estimate. Collectively, prognosticators tracking Scotts stock are anticipating a single-digit percentage decline in revenue for fiscal 2025. They are modeling $3.44 billion, a figure that's more than 3% below the previous year's result. Scotts is generally more on investor radars at this time of the year because we're in growing season, the period where individual and institutional growers alike do much of their planting. The company quoted CEO Jim Hagedorn as saying, "With the peak lawn and garden season upon us, we continue to drive positive outcomes on multiple fronts, a reflection of the health of our consumer, coupled with the power of our incremental marketing investments and retailer promotional programs." While it's encouraging that Scotts management continues to stand by its revenue growth projections, to me that's not enough to get excited about the stock. This is essentially a slow-growing, mature business at its core that pays an attractive dividend yielding 4.1% at present. To my mind, that makes it something of an income stock play, but I wouldn't count on great leaps in the fundamentals. Before you buy stock in Scotts Miracle-Gro, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Scotts Miracle-Gro wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Scotts Miracle-Gro. The Motley Fool has a disclosure policy. Why Scotts Miracle-Gro Stock Popped by 11% Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why Argan Stock Crushed the Market Today
Argan blasted far past analyst estimates for first quarter of fiscal 2026 revenue and profitability. It also notched a new all-time high for project backlog. 10 stocks we like better than Argan › Construction and engineering services provider Argan (NYSE: AGX) was a big hit on the stock exchange Thursday, a direct result of the far better-than-expected quarterly results it posted the day before. Investors plowed into the company to give it an 8% lift on the day, providing a notable contrast to the S&P 500's (SNPINDEX: ^GSPC) 0.5% decrease. For its inaugural quarter of fiscal 2026, Argan's revenue came in at just under $193.7 million, a meaty 23% year-over-year increase. That was accompanied by a significant (36%) increase in project backlog, to a record level of almost $1.9 billion. Even better, net income under generally accepted accounting principles (GAAP) standards nearly tripled, landing at almost $22.6 million ($1.60) versus the less than $7.9 million of fiscal first quarter 2025. Both headline numbers absolutely obliterated the consensus analyst estimates. On average, pundits tracking Argan stock were modeling slightly below $176 million on the top line, and a per-share GAAP net income figure of $0.90. In the earnings release, Argan attributed its powerful gains largely to one key customer base. It quoted CEO David Watson as saying that the improvements came largely from "the energy industry's urgent response to the growing strain on our power grids related to the building of data centers, the onshoring of complex manufacturing, and an increasing amount of electric vehicle (EV) charging activity." Outperformance like this rarely escapes the notice of investors, so it was hardly surprising that they bid up Argan's shares after the earnings release was published. The trends driving the fundamentals well higher should remain in force for quite some time -- particularly the dynamic behind the data center demand, which is directly related to the rapid rise of artificial intelligence (AI) -- so this once under-the-radar stock should continue to be a solid play. Before you buy stock in Argan, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Argan wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Argan Stock Crushed the Market Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
