PALMETTO BAY, FLA.—The Everglades Foundation released the results of a comprehensive analysis of the financial return on investment generated by restoration of America’s Everglades ecosystem. The study, conducted by Mather Economics, projects that restoration will produce an increase in economic benefits of approximately $46.5 billion that could range up to $123.9 billion based on an investment of $11.5 billion.
“It is clear that Everglades restoration not only produces ecological benefits, but also generates a robust economic boost to our economy,” said Kirk Fordham, CEO, Everglades Foundation. “For every dollar spent on Everglades restoration, we are getting four dollars back in the form of higher home values, increased tourism and stronger fishing, boating and tourism industries. When we invest in protecting and restoring the Everglades, we are also revving up a powerful job creation engine. Aside from the good paying jobs in construction, engineering and the sciences that come with restoration projects, we are boosting employment in a wide range of industries.”
The study shows that for every one dollar spent on Everglades restoration as part of the Comprehensive Everglades Restoration Plan (CERP), $4.04 will be generated in economic benefits. Projections indicate that there will be an incremental impact on employment of about 442,644 additional jobs over 50 years. The U.S. Army Corps of Engineers also estimates there will be 22,966 new short- to mid-term jobs created as a result of actual restoration projects.
Rewards Outweigh Costs
“Let’s think about the basic ecosystem services provided by the Everglades as a grocery store featuring ‘products’ ranging from water purification to enhanced tourism,” said Bobby McCormick, Ph.D, Mather Economics’ principal investigator assigned to the project. “We created six distinct aisles or divisions and a catch-all section. For each of these categories, we conservatively estimated, using best available data and economic methods, the increase in economic value of a restored Everglades ecosystem. The bottom line, as our analysis strongly suggests, is that the rewards of restoration far outweigh the economic costs.”
In addition, the study shows that Everglades restoration will result in added value to the economy of $5,129 per individual residing in the 16-county South Florida Water Management District.
“Too often, we hear arguments that we can’t afford to invest in Everglades restoration during an economic downturn,” Fordham said. “Instead, smart policymakers recognize that the future of our state’s economic growth depends on protecting the Everglades and the water supply it provides to one in three Floridians. Simply put: we can’t grow our economy if we allow the Everglades to collapse.”
“Measuring the Economic Benefits of America’s Everglades Restoration: An Economic Evaluation of Ecosystem Services Affiliated with the World’s Largest Ecosystem,” is available in its entirety at www.evergladesfoundation.org in the “Reports and Surveys” section of the website.
