Water Sector Awash in Women

Quickly emerging field has proven popular with female-led startups

BY KEITH TWITCHELL

Ten years ago, water management in New Orleans mostly meant pumping out as much stormwater as possible, as fast as possible. The water sector has since grown to become a leader in entrepreneurial opportunities, especially for women.

What drives entrepreneurism in this sector? Why are women so prominent in it? What lessons learned might be applied to other sectors?

“It’s an emerging field, so there’s a lot of opportunity, and a lot of different aspects of opportunity,” observed Arien Hall, co-founder of Mastodonte, a firm that installs stormwater management and green infrastructure systems. “You can get your start in a lot of different ways.”

Indeed, the sector includes businesses and individuals in fields as varied as landscaping, art, construction, maritime, botany and biology, engineering, and many more. This means that established firms can expand into the sector.

“It’s still a new concept, and by using it we can differentiate our business from other businesses,” said Jasman Marks, co-founder of the construction company JC Marks Enterprises. “We can add value for our customers.”

Collaboration across many fields typifies much green infrastructure work, which in turn generates new thinking about design, techniques, even how various materials and resources are used.

“The timing is right because now we have global recognition of climate change,” said Christina Couvillion-Do, CEO and owner of Quality First Marine, a maritime contractor. “There is such a need for more engagement, more problem-solving.”

This in turn leads to innovation, a vital incubator of entrepreneurism. Both the public and private sectors are funding more green infrastructure. There is also now a strong nonprofit support structure for aspiring water entrepreneurs.

“With the emphasis on resilience in federal, state and local infrastructure projects — and the requirement for private development to practice stormwater management — local organizations such as Propeller, Thrive New Orleans, and many others started training business owners and workers in these new techniques,” noted Andrea Chen, executive director of Propeller. “As a result, many businesses were able to learn new technologies to take advantage of opportunities in green infrastructure.”

Some of these same factors help explain why women are such leaders within the sector.

“As an emergent industry, it’s not impacted by limiting historical factors,” said Jessica Dandridge, executive director of the Water

Collaborative, which serves as a convener and connector in the field. “It’s intersectional in nature, which is a strong suit for many women.”

“There’s a lot of stewardship involved, a lot of community engagement, the need to work together in collaboration,” added Hall, “so a lot of women gravitate towards the work.”

“This sector enables women to have families and be able to do this work,”added Dandridge.

What aspects of water sector entrepreneurism might translate to other fields?

“The support infrastructure that has been built — from workforce training, procurement advocacy, small business training and support, policy advocacy, and dedicated capital providers — could be replicated to support entrepreneurism in other sectors,” suggested Chen.

“Other sectors need to create spaces for innovation,” said Dandridge. “They can create competitions like we have in the water sector, to encourage and reward innovation. This can lead to greater acceptance and institutionalizing of innovation.”

Dandridge also noted that “there is an emphasis in this sector on continuing education, and other sectors could learn from that. It allows people to think more broadly about the work they are doing. There is so much to be gained by learning more.”

“Always look at how you can add value to what you are already doing,” recommended Marks.

Finally, Lisa Abballe, co-founder of Mastodonte, pointed out that “there’s this component of mission-driven businesses, because of the environmental factor. Maybe that sets an example for businesses in other fields. People want to see work that is meaningful.”

All involved agree that other sectors could benefit from water sector practices.

“Everything should be like water.” said Dandridge. “Be flexible. Take the turns and twists to meet the needs.”T

Three local bank CEOs share their thoughts on the recent bank failures

Kyle Simmons

Loan Officer

Eustis Mortgage

Chuck Stall

Realtor

GNO Realty

One of the first things I do when I meet with clients is find out their motivations for making a move. For some, it’s proximity to work or family, while for others it is upgrades in size or amenities. If proximity is negotiable, I ask them to consider “driving till they qualify.” This means that they consider a less centralized location. If location is important to the buyer, they may want to consider looking into foreclosed homes or homes that are in a short -sale (where the home sells for less than the remaining balance of the mortgage).

Three tips I always tell my clients are

1.) Get rid of credit card debt as much as possible.

2.) If you have student loans, set up an incomedriven repayment plan. Most student loans are deferred currently; those loans need to be out of that status to close on a home. 3.) There are many programs available to help lower-income families. Having a local, veteran loan officer will help navigate the different loan types and get you set up with a loan program that best suits your individual needs. Online mortgage companies are hard to get in touch with, do not know the area/local programs, and typically cost more due to baitand-switch tactics.

It’s a tough time to be a buyer, between higher interest rates, and locally, ever-increasing insurance costs. As a result, it’s all the more important to be strategic in one’s home search. For those on a budget, I would suggest working with a respected local lender and shopping around for the most competitive interest rates and financing terms. To combat these obstacles, many local lenders have developed in-house mortgage options that offer rate buy-downs, a zero money down option, and/or they have removed PMI (mortgage insurance) from loan programs to make the note more affordable. In the New Orleans area, I also urge buyers to investigate the flood zone and flood insurance premium costs before they write an offer on a property; there’s no need to pay for home inspections or an appraisal only to find out after the fact that the cost of flood insurance will make that property unaffordable.

Michael Verderosa, Realtor, Historic 504 Properties Team

Victoria Gardner

Realtor Nola Living Realty

My first piece of advice for anyone looking to buy a home in the near future would be to start with figuring out what they’d like their monthly note to be. The monthly note is super important to renters who are transitioning into becoming homeowners. The biggest difference between a rent payment and mortgage payment, besides the fact that you’ll actually own the residence, is that a mortgage payment escrows in taxes, insurance, HOA fees, etc. Secondly, even before home or real estate agent shopping, future homebuyers should start with choosing a lender and seeing where their credit scores, debt-to-income ratio (DTI), and income is at. The best lenders will work with clients over time if they aren’t immediately in the spot to buy — that’s why it is important to also shop around for lenders.

Lastly, what I tell my firsttime homebuyers that want to catch the best deal (who doesn’t?), is to scope out homes that have been on the market longer and not the homes that are a bit fresher. The longer the home sits, the more the seller is willing to negotiate, and that typically always leans in the buyers’ favor, thankfully!

KARON

Reese

Broker/Owner Reese & Co. Real Estate

A good, responsive Realtor is crucial to the process of buying an affordable home. Your Realtor will know the market, so they will know where to search for homes in areas that are maybe overlooked but are good opportunities to build equity and realize a nice increase in value. They’ll also provide solid comps to help you determine the fair market value. Your Realtor will also know which loan programs will have grants that can help with the buyer’s down payment and closing costs. Realtors set their buyers up with good lenders, and this is a huge benefit. A good Realtor helps you through the inspection process, helping you navigate your way to negotiate for the items that most affect the value of your home.

Some people feel that they can navigate this on their own, and I can say unequivocally that they miss out on nuances of the transaction and the expertise of a professional. Referrals from friends are good ways to find a Realtor.