At their recent summit in Washington D.C. a new report released by The Everglades Foundation, in collaboration with Earth Economics, estimates the value of ecosystem services provided by America’s Everglades at more than $1 trillion over the next 50 years.
Unveiled during the America’s Everglades Summit in Washington, D.C., the report highlights the Everglades’ $31.5 billion annual contribution to the economy through ecosystem services that include:
· Real Estate Enhancement – $9.2 billion
· Outdoor Recreation – $8.5 billion
· Protection from Extreme Weather Events – $8.4 billion
· Biodiversity & Habitat – $3.3 billion
“This report delivers clear, quantified evidence on how the health of the Everglades is directly tied to America’s economic well-being,” said Paul Hindsley, Chief Economist at The Everglades Foundation and co-author of the study. “Restoring this national treasure secures economic prosperity today and safeguards its benefits for generations to come.”
Maya Kocian, the Executive Director of Earth Economics said the report lays a foundation for articulating the Everglades’ importance to the region’s economy and the continued need for restoration for resilience. “An investment in nature is an investment in Floridians and Florida’s economy.” The Everglades is an invaluable natural asset, improving the quality of life for residents and visitors to South Florida,” said Kocian.
Paul Hindsley said the study also underscores the risks of inaction. Harmful algal blooms in 2013 and 2018 caused over $3 billion in losses to real estate and tourism in just two Florida counties. Reduced freshwater flows continue to threaten Florida Bay and the regional economy it sustains.
At the D.C. summit, a bipartisan group of Florida Congressional members praised the Everglades Foundation for educating the public on the importance of restoring the Everglades.
Everglades Foundation CEO Eric Eikenberg thanked the congressional delegation of Florida and other members of Congress for its consistent funding partnership between the state and federal government.
Regarding the new study, Eikenberg said the new economic research will serve as a powerful tool to educate decision-makers and the public about the far-reaching value of the Everglades and why restoration is essential for Florida’s future.
