A socioeconomic analysis of habitat restoration in the Muskegon Lake area of concern
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A socioeconomic analysis of habitat restoration in the Muskegon Lake area of concern

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  • Journal Title:
    Journal of Great Lakes Research
  • Personal Author:
  • NOAA Program & Office:
    NMFS (National Marine Fisheries Service)
  • Description:
    As part of the 2009 American Recovery and Reinvestment Act (ARRA), a $10 million grant was awarded to restore wetlands and stabilize shoreline along the south shore of Muskegon Lake (MI), a Great Lakes Area of Concern. A socioeconomic analysis was conducted as part of this award, which included a travel cost survey for lake recreation and a hedonic housing valuation to estimate return on investment. The value of a trip to Muskegon Lake was estimated to be $39.76; when applied to the anticipated increase in post-restoration recreational trips to Muskegon Lake, and using a conservative 7% discount rate, the Net Present Value over 20 years is $38.1 million. The hedonic analysis examined values for houses between 100 and 800 m from the shoreline, using both the current shoreline distances and the new shoreline distances after restoration; this resulted in a predicted $11.9 million in additional housing value as a result of the improved shoreline features. Summing the hedonic value and travel cost estimates, along with the original $10 million spent, the result is that over 20 years, the total value generated for the local region is nearly six times the initial ARRA spending. In other words, of the $60 million of value created on the Muskegon Lake restoration, $50 million is increased environmental value over the 20 year period.
  • Keywords:
  • Source:
    Journal of Great Lakes Research, 44(2), 330-339
  • DOI:
  • ISSN:
    0380-1330
  • Format:
    PDF
  • Publisher:
    Elsevier BV
  • Document Type:
    Journal Article
  • Funding:
    Grant no. NA09NMF4630294
  • Rights Information:
    Accepted Manuscript
  • Compliance:
    Library
  • Main Document Checksum:
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