Investors are buying up Arizona farmland for the valuable water rights
In fields on the Arizona-California border, farmers draw water from the nearby Colorado River to grow alfalfa, irrigating crops as they have for decades. That could change soon. An investment company has purchased nearly 500 acres of farmland and wants to strip it of its water and send it 200 miles across the desert to a Phoenix suburb, where developers plan to build thousands of new houses. Similar deals could follow as the demand for water in the growing Southwest outpaces the dwindling supply.
Related articles:
- CPR News: Historically left out of Colorado River negotiations, 20 Tribes urge Interior Secretary Haaland to include their voices
- Northeast Valley News: Colorado River shortage will have a major impact on Arizonans
- Arizona Big Media: Opinion: Arizona’s water supply - Don’t let misinformation affect investment
- The Nevada Independent: Q&A – SNWA general manager on the Colorado River and preparing for a drier future