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PECONIC ESTUARY: RECREATIONAL AND RESOURCE ECONOMIC VALUES FOR THE PECONIC ESTUARY SYSTEM
Citation:
Economic Analysis, Inc. PECONIC ESTUARY: RECREATIONAL AND RESOURCE ECONOMIC VALUES FOR THE PECONIC ESTUARY SYSTEM. U.S. Environmental Protection Agency, Washington, D.C.
Description:
The environmental and natural resources ("natural assets") of the Peconic Estuary System--the bay waters, beaches, wetlands, ecosystems, habitats, and parks and watershed lands--provide many services to the public. Outdoor recreation, scenic views, and the productivity of wetlands that contribute to stocks of fish, birds, and other species used for commercial and recreational purposes are but a few examples of these services. While the quality of PES coastal amenities is widely recognized, little information exists about the uses and users of PES natural resources. Even less is known about the value that the public holds for the natural asset services of the PES--that is, what they are "worth" to the public. This is because recreation, scenic views, and ecosystem productivity are not directly valued in markets. Lacking information on recreational and resources values, comparisons cannot be made of the benefits and costs of prospective actions to preserve or restore PES natural assets. This report is designed to help fill this major gap. In this report, we present the results of four non-market valuation studies carried out by Economic Analysis Inc. CEAI") to estimate the uses and economic value that the public holds for the natural assets of the PES. We provide estimates of (1) outdoor recreational uses and of the non-market economic values of key recreational activities, and (2) other resource values provided by the natural assets of the PES. The economic valuation studies described herein were done to contribute to benefit-cost analyses of proposed management actions. This document is Phase II of a series of economic studies being done by EAI for the Peconic Estuary Program. A Phase I report (Grigalunas and Diamantides, 1996) (1) provided an assessment of "economic impacts" of the PES, in terms of business revenues, employment, and wages of estuarine-related sectors, and (2) summarized available information on recreational uses. Subsequent work by EAI will include benefit-cost analyses of resource management actions and sustainable financing options for the selected, preferred actions.