Abstract
Community assets such as trails, parks and public open space provide numerous benefits of both economic and social value. These assets provide recreational opportunities for residents, helping people to stay healthy and happy as access to spaces for exercise increases physical activity and reduces medical expenses. Recreation also stimulates the economy through the purchase of gear for activities, services and guided tours. This economic activity creates jobs in recreational sales, the hotel industry, tourism, and more. Public spaces enable all of these benefits to happen. Without access to trails, parks and open space, these benefits would be greatly diminished. This report summarizes the return on investment for these community assets in the Matanuska-Susitna (Mat-Su) Basin of south-central Alaska. Both social and economic benefits are covered in this report. Social benefits encompass recreation, tourism, human health, public safety, subsistence, and cultural and historical benefits. Economic benefits include those from businesses, tax revenues, and taxpayer savings.
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Community assets such as trails, parks and public open space provide numerous benefits of both economic and social value. These assets provide recreational opportunities for residents, helping people to stay healthy and happy as access to spaces for exercise increases physical activity and reduces medical expenses. Recreation also stimulates the economy through the purchase of gear for activities, services and guided tours. This economic activity creates jobs in recreational sales, the hotel industry, tourism, and more. Public spaces enable all of these benefits to happen. Without access to trails, parks and open space, these benefits would be greatly diminished. This report summarizes the return on investment for these community assets in the Matanuska-Susitna (Mat-Su) Basin of south-central Alaska. Both social and economic benefits are covered in this report. Social benefits encompass recreation, tourism, human health, public safety, subsistence, and cultural and historical benefits. Economic benefits include those from businesses, tax revenues, and taxpayer savings.
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[The study finds]:
- Opportunities for physical activity in open spaces can decrease both health care costs and productivity losses, leading to more than $3 million in savings annually.
- The high cost of natural disaster recoveries, not to mention the loss of human life, can be minimized with well-planned open space preservation.
- The estimated annual value of ecosystem services of the 1,438 acres of Mat-Su Borough owned recreational land is over $1.8 million.
While the figures above paint a positive image of Mat-Su public open spaces, the ROI analysis was crucial to determine the actual costs and benefits of spending money to enhance and preserve open space in the Mat-Su. As Chapter 5 details, we reached a result of a 5.31 return on investment for the Mat-Su Borough owned lands alone, meaning that for every dollar that the Borough invests in open spaces, the payoff is more than $5, an astoundingly good return.
by Maya Kocian
Earth Economics www.EarthEconomics.org
December 11, 2015
The Full report is available free of charge at http://tinyurl.com/zrxowfh
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