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Florida’s Coastal Environmental Resources: A Guide to Economic Valuation and Impact Analysis. Washington, DC: NOAA/Office of Policy and Strategic Planning.
... Benefits transfer is the method applied in this study. Milon (2002) estimated the value of the Indian River Lagoon, a coastal estuary located in South Florida. Milon applied the property value method, marginal productivity method, contingent valuation method, and the travel cost method. ...
... We allocated the remaining service classes (e.g., "disturbance regulation", "nutrient cycling", and ""habitat") to the broad category Indirect and Non-use Values. Ecosystem benefit values from Milon (2002) and Constanza et al. (1997), adjusted to 2006 dollars, appear in Table 1, with values applied to Biscayne Bay projects. The estimated value of the services gained from restoring Biscayne Bay ecosystems appears in Table 2. ...
... The internal rate of return from restoration expenditures is 11%. Source: Costanza et al. (1997) and Milon (2002). ...
FE662, a 5-page fact sheet by Donna J. Lee and Anafrida Bwenge, describes a study which assesses the value of restoring ecosystems damaged by invasive plants. Includes references. Published by the UF Department of Food and Resource Economics, August 2006.
... There are different approaches in evaluating the value of marine sanctuaries, such as cost-benefit analysis, economic impact/contribution analysis, cost effectiveness analysis, and natural resource damage assessment. The choice of a method to use should align with the information that decision makers prioritize [11]. Several studies have estimated the cost of establishing MPAs. ...
Providing demonstrable and quantifiable evidence to substantiate the value of Marine Protected Areas like National Marine Sanctuaries is important for understanding their role in the blue economy, as well as gaining management and financial support for their protection. This study employs economic contribution analysis to estimate the economic contributions of ocean recreation spending of visitors to Gray’s Reef National Marine Sanctuary (GRNMS) and the coastal Georgia region. Employing economic contribution analysis is found to be more useful in influencing stakeholder decisions, and can therefore be a useful tool in providing inputs for management decisions related to marine protected areas. This study shows that visitors to coastal Georgia spent about USD 1.4 billion on ocean recreation activities in a single year. This translates to a total economic contribution of 18,950 jobs, USD 603 million labor income, USD 938 million value added, and USD 1.8 billion output. About USD 123 million of the total visitor spending can be attributed to GRNMS, contributing 1702 total jobs, USD 54 million in total labor income, USD 84 million in total value added, and USD 159 million in total output. This study highlights the importance of coastal Georgia and GRNMS as economic drivers of the region’s economy, supporting the need for continued management and investment in the Sanctuary and its resources.
... Additional information about the valuation methods for ecosystem services can be found on the Ecosystem Valuation website at http://www.ecosystemvaluation.org/1-03. htm and in Letson (2002). ...
Florida residents and visitors place a high value on aquatic natural resources. This 8-page fact sheet reviews nine studies that demonstrate that Florida’s springs have a very large economic value, both for recreation and resource conservation. In these studies, economists measure the value of ecosystem services in dollar terms to assist management decisions concerning natural resources. Willingness to pay studies show that people who benefit from Florida springs place a high value on them. Economic contribution studies show that Florida springs play a significant role in local and state economic health and job creation. Written by Sara Wynn, Tatiana Borisova, and Alan Hodges, and published by the UF Department of Food and Resource Economics, November 2014. (UF/IFAS Photo by Tyler Jones.) FE959/FE959: Economic Value of the Services Provided by Florida Springs and Other Water Bodies: A Summary of Existing Studies (ufl.edu)
... Therefore, understanding the economic value of marine sanctuaries is not only important to justify public and private investments and to provide information to support management activities [7], but understanding their overall contribution to the ocean economy is important to secure adequate funding for their sustainable management. In addition, marine sanctuary resources are economic resources that are scarce and have competing uses; thus, determining value can inform policy makers and other management decision makers of the tradeoffs of alternative uses or economic importance of different choices [8]. There are different methods available to determine the value of natural and environmental resources (e.g., marine sanctuaries), including cost-benefit analysis (CBA), economic impact analysis/contribution analysis, cost-effectiveness analysis, and natural resource damage assessment. ...
Understanding the economic value of marine sanctuaries such as the Florida Keys National
Marine Sanctuary (FKNMS) is important to justify public and private investments and to provide
information to support management activities and understand their role in the nation’s blue economy.
Very few studies have employed economic contribution analysis in examining economic value, even
though it is more useful in influencing the behaviors of decision makers. This study therefore employs
such a methodology to determine the economic importance of tourism and visitor spending in the
sanctuary to Monroe County, Florida’s economy. Visitors who came to the area for ocean recreation
and tourism spent a total of USD 1.7 billion, which translates to a contribution of 19,688 total jobs,
USD 752 million in total labor income, USD 1.2 billion in total value added, and USD 2 billion in total
output to the region. With regard to the spending of snorkelers and divers only, total spending is
about USD 1.07 billion, contributing about 12,441 total jobs, USD 466 million in total labor income,
USD 767 million in total value added, and USD 1.2 billion in total output. Ocean recreation is therefore
an important economic driver in the region and efforts should be directed at protecting the diverse
and sensitive ecosystem of the sanctuary.
... Because many marine resource uses are not traded in markets, their values cannot be measured in traditional ways ( Letson and Milon, 2006). For example, a proposed housing development that could damage the ecological integrity of wetlands might indirectly hurt recreational and commercial fi shing as well. ...
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