The Pure Water Oceanside project is getting a $69 million loan from the U.S. EPA that will finance nearly half of the project’s construction cost.

EPA officials announced the loan at an event today in Oceanside attended by federal, regional and local officials.

The innovative water reuse project will purify recycled water to create a new source of high-quality drinking water that is clean, safe, drought-proof and sustainable. It also will benefit the environment by reducing discharges into the Pacific Ocean. Construction and operation of the plant is expected to create 622 jobs.

Scheduled to be completed by the end of 2022, Pure Water Oceanside will be the first operating advanced water purification facility in San Diego County. The project will provide more than 32% of the City of Oceanside’s water supply, or 3 to 5 million gallons per day.