Captains For Clean Water, Sanibel Captiva Conservation Foundation and Conservancy of Southwest Florida released the findings of a study executed by Greene Economics, which quantifies the economic impacts of harmful water-quality events, such as harmful algal blooms, and degraded water quality on the Southwest Florida economy.
The study focuses on the quantifiable negative effect that harmful algal blooms have on the economy, and how the magnitude of those negative impacts is likely to increase as the frequency and intensity of events compound on an already weakened ecosystem. The study also highlights how good water quality has a positive economic impact and that projects and policies that improve water quality will pay off through a more robust economy.
The results of the analysis show that with another event in Charlotte, Lee, and Collier counties similar to the harmful algal blooms experienced in 2005-06 and 2018, the study area would lose more than $460 million in commercial and recreational fishing, more than 43,000 jobs, $5.2 billion in local economic output, $17.8 billion in property values with an associated $60 million in property tax revenue and $8.1 billion in the value of outdoor recreation or quality of life.
To access the full study, click here.