By John Beckham, managing director of the North American Development Bank (NADBank)

With the passage of Proposition 4 earlier this month, Texas voters took an important step toward securing the state’s future water resources. The measure, which will dedicate $1 billion annually to the Texas Water Fund, is an overdue investment in the state’s aging infrastructure. While this commitment to preserving and protecting the state’s water is welcome, it’s only a down payment on a far greater challenge that’s been decades in the making.

According to Texas 2036, a respected public policy think tank, the state will require an estimated $154 billion in investments in water infrastructure over the next 50 years to sustain the “Texas miracle”, the story of booming cities, expanding industries, and families drawn to opportunity. Water is the quiet foundation of that success, but it’s under increasing strain from drought, rapid growth, and climate extremes. If we want Texas to keep thriving, we need more than new funding; we need a new level of cooperation.

That cooperation must come from all levels of government and the private sector. Local communities can’t shoulder this burden alone, and state agencies can’t fill every gap. Federal and international partners must also play a part. The only way to meet Texas’ water needs is through collaboration and smart, strategic investment.