Economic Impact Studies: Practical Tips & Examples - Jen Read
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Economic Impact Studies: Practical Tips & Examples - Jen Read
- 1. Estimating the Benefits of Great Lakes Restoration Jennifer Read Assistant Director and Research Coordinator Lynn Vaccaro Coastal Research Specialist
- 12. Summary of Specific Economic Benefits Affected Value Present Value Benefit Improved catch rates for anglers $1.1 – 5.8 billion Maintenance of sport fishery wages and profits $100 – 200 million Lower water treatment costs $50 – 125 million More swimming $2 – 3 billion More swimming and improved enjoyment $2.5 billion Improved birding $100 – 200 million Improved waterfowl hunting $7 – 100 million Benefits for basin residents $12 – 19 billion Total Quantified Specific Benefits $18 – 31 billion Aggregate Long-run Benefits $29 – 41 billion Short Term Multiplier Effects $30 – 50 billion
- 13. GLRC Strategy Return on Investment = $80 – 100 Billion in Benefits +
- 15. Jennifer Read [email_address] www.miseagrant.umich.edu/economy America’s North Coast: A Benefit-Cost Analysis of a Program to Protect and Restore the Great Lakes John C. Austin, Non-resident Senior Fellow, Brookings Soren Anderson, Assistant Professor, MSU Paul N. Courant, Dean of Libraries, U-M Robert E. Litan, Senior Fellow, Brookings
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- Cooperative program between um, msu, and noaa Extension through msu Communication and education through um Research through competitive grants program to all michigan universities
- Michigan Sea Grant Program Review, April 15, 2010
- Short-run multiplier effects for federal spending Applies to all federal spending in region $1 of spending results in $1.5 to 2.5 of additional spending Labor intensive activities, such as sewer repair, will generate more local employment benefits. Michigan Sea Grant Program Review, April 15, 2010
- Michigan Sea Grant Program Review, April 15, 2010
- Restoration of coastal wetlands More Fish Avoid Expected declines due to invasive species and habitat loss. Assumptions make a big difference Time period used – benefits over 20 years? Discount used Conservative or upper estimates used for ecological and economic outcomes. Michigan Sea Grant Program Review, April 15, 2010
- Michigan Sea Grant Program Review, April 15, 2010
- Management strategies in GLRC were intended to reduce sedimentation by 40% Strategies include Ag, urban and stormwater BMPs, wetland and riparian restoration Michigan Sea Grant Program Review, April 15, 2010
- Michigan Sea Grant Program Review, April 15, 2010
- Removing and remediating contaminated sediments will reduce real and perceived health risks associated with living near an Area of Concern. Michigan Sea Grant Program Review, April 15, 2010
- Long term gains = specific quantified benefits (fishing, water treatment) + unquantified benefits Short term gains = multiplier effect associated with any federal investment in the region Michigan Sea Grant Program Review, April 15, 2010