CHNEP Economic Valuation

Client: The Coastal & Heartland National Estuary Partnership (CHNEP)
Location: CHNEP Watershed

The Balmoral Group was retained to estimate the economic valuation of the natural resources in the CHNEP region by County and by Basin, using economic impact-based models and fiscal impact models. Economic impact models attempt to quantify the effects of spending that is driven by a specific asset – in this case, natural resources in the CHNEP region – on the regional economy through ripple effects on employment, wages, and business revenues. Fiscal impact models estimate the expenditures by local government to protect and preserve the natural resources in the CHNEP region, and the tax revenues that are generated in return. Additionally, hedonic models were used to estimate the property value impacts of CHNEP’s major waterways and conservation lands. Finally, selected capital projects were further investigated for cost-benefit analysis, as an indicator of the strength of investments that continue to be made across the watershed. The analysis found that all counties showed a positive return for their investment, ranging from below $5,000 to more than $20,000 per capita. Natural resources in the CHNEP region generate about $12.3 billion in direct spending, $3.8 billion in regional income, and $146 million in local & state tax revenues, and support over 148,000 jobs annually.

Coastal and Heartland National Estuary Partnership (CHNEP) Economic Valuation Report Cover