Global Water Resources, Inc. (NASDAQ:GWRS) Q4 2022 Earnings Call Transcript

So that’s just over two years out. So for the work that we do that still means that that starts almost immediately, but from a financial results perspective that’s further down the road. But once you put Procter & Gamble and Nikola, together, which I think the two transactions, at least what was announced is a total of 700 acres. What we’re currently working with them on really is potentially not feel build out of those 700 acres, because ultimately you can put lots of plant and facilities in the size of properties that they bought. And so it’s up to them to announce and talk about what they may do on the property later. But for now, we’re working with them on their current phases to meet that timeline. But stepping back from the properties they acquired, there’s a total of about 17, 18 parcels inside of this Inland Port Arizona.

P&G actually took out two of them, Nikola took one of the bigger ones, but it’s over like 2,300 acres and so there’s still over a dozen parcels still to go. And because of the activity of those two we’re really — the activity around the entire site has picked up. And I’ll just say that we answer the early, what they call, project information forms, which people are looking to potentially select one of those parcels and locate in the Inland Port, we’re dealing with those on a weekly basis. Now we can’t speak to who’s going to select the property and what they’re going to build and when, but the belief is that now that there’s that foundation, as you refer to it, it’s just the beginning and that Inland Port will actually fill up pretty well in the years and decades to come.

The evidence of this is the same developer that’s doing Inland Port, actually did this first in the City of Casa Grande just 20 minutes away from where we’re at in Coolidge. And he started that project with Lucid, where we should be familiar with their electric vehicle manufacturing facility and then the new southwest regional, technical or main facility for our tractor supply company. And since that, beginning those two, the whole park there is filled out, he’s out of land there and that’s his full attention you see on Coolidge, and we just think that’s evidence of how he does it and what is to come.

Operator: At this time, this concludes our question-and-answer session. I’d like to now turn the call back over to Mr. Fleming. Sir, please go ahead.

Ron Fleming: Yes. Thank you, operator. I’d like to thank everybody for participating on the call today and for your ongoing interest in Global Water Resources. I appreciate it and we look forward to speaking with you again soon.

Operator: This concludes today’s conference call. You may disconnect your lines. Thank you for participating, and have a great rest of your day.