New study quantifies impact of water quality on economy

SWFL nonprofits join efforts to execute a study quantifying impacts of degraded water quality on the economy

On Jan. 16, Sanibel Captiva Conservation Foundation (SCCF), Captains for Clean Water (CFCW), and the Conservancy of Southwest Florida released the findings of a study executed by Greene Economics, which quantifies the economic impacts of harmful water-quality events (like Harmful Algal Blooms) and degraded water quality on the southwest Florida economy.

The results of the analysis show that with another event in Charlotte, Lee, and Collier Counties similar to the HABs experienced in 2005/6 and 2018, the study area would lose:

• Over $460 million in commercial and recreational fishing
• Over 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
• $8.1 billion in the value of outdoor recreation (or, quality of life)

A Harmful Algal Bloom (HAB) is the proliferation of a toxic algal species that negatively affects natural resources or humans. HABs would include cyanobacteria from Lake Okeechobee discharges and/or red tide events. The study focuses on the quantifiable negative effect that HABs 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.