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In-Depth Economic Analysis by Greene Economics
To address growing concerns around the health and vitality of our waterways, Captains for Clean Water, Conservancy of Southwest Florida, and Sanibel Captiva Conservation Foundation enlisted Greene Economics to conduct a thorough analysis of the economic repercussions of degraded water quality.
This pivotal study aims to translate the ecological impact into tangible economic figures, offering a clearer perspective on the stakes involved.
The study also shines light on 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 importance of Clean Water
Southwest Florida's allure and prosperity are deeply rooted in water. Within the counties of Charlotte, Lee, and Collier, our region's economic and ecological well-being hinges on the health of these waters. Clean and healthy water bodies not only support diverse wildlife but also fuel key economic activities, reinforcing the area's desirability as a tourist destination and a place to call home.
The threat of Harmful Algal Blooms (HABs)
In recent times, the tranquility and health of these waters have been marred by harmful algal blooms. Such events, particularly severe in 2018, disrupted local industries, marred the natural beauty, and raised alarming concerns about the ecological future of the region. These blooms serve as a stark reminder of the fragile balance between nature and human activities.
Revealing Alarming Economic Consequences
The study's findings paint a grim picture of the potential economic fallout of poor water quality. A repeat of the catastrophic HAB events witnessed in 2005/6 and 2018 could lead to a substantial downturn in key economic sectors. The fishing industry could lose over $460 million, while the broader economy might suffer a $5.2 billion setback. Furthermore, the region could face a drastic decline in property values, job losses in the tens of thousands, and significant reductions in outdoor recreation values.
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What can you do?
The Conservancy has advocated for a variety of actions related to protecting our waters and way of life. Many of the actions still ring true today.
The top priority is to stop pollution at the source.
Preventing pollution from getting into waterbodies in the first place is the single most cost-effective and efficient solution. The consequences of not doing so are manifest throughout the region. Adequately treating water onsite, whether it is urban or agricultural runoff, or discharges from wastewater treatment plants, prevents pollution from entering waterbodies, saves taxpayer money in cleanup costs, and protects our water resources and human health.
Another priority is to prevent additional wetland loss and avoid impacts on critical natural resource areas. The alteration of Southwest Florida’s wetland landscapes for the benefit of urban and agricultural development has drastically impacted drainage patterns, depleted water supply, and degraded water quality and wildlife habitat.
The consequences of the loss of wetlands habitat, recharge and cleansing capabilities are far-reaching. Less water is held on the landscape to recharge aquifers and water drains off more quickly and at higher volumes.
For details on these policy actions visit our Estuaries Report Card page.
Impact Analysis: County by County
This analysis focuses on the regional impacts in Charlotte, Lee, and Collier Counties. The study delves also into the individual impacts on each of the three counties, revealing how each area's unique economic and environmental landscape shapes its vulnerability to HABs. From the loss of millions in fishing revenues to the potential job cuts and the decrease in property values, the study brings to light the multifaceted nature of the economic risks.
Collier County
Collier County is the southernmost county in the study area, with 397,994 permanent residents, and over 2.5 million visitors estimated in 2023.
In Collier County, the estimated losses from another HAB total $245 million in recreational and commercial fishing revenues and expenditures. The number of potential jobs lost in one year is estimated to be 13,933, and the loss in output is estimated to be $1.7 billion.
Property value losses are estimated to decline by $6.8 billion with an associated $35.7 million in lost property tax revenue.
The value of non-market recreation (or, quality of life) lost would be $2.3 billion. The table below summarizes the losses to Collier County.
Asset value and loss expected from an HAB in Collier County
| Economic Asset | Total Value | Total Loss Due To HAB |
|---|---|---|
| Fishing – Recreational/Commercial | $773.1 million | $245.5 million |
| Coastal Economy – Jobs | 48,576 | 13,933 |
| Coastal Economy – Output | $6 billion | $1.7 billion |
| Property Value Near Coast | $33.9 billion | $6.8 billion |
| Property Tax Revenue | $195.3 million | $35.7 million |
| Value of Outdoor Recreation (Quality of Life) | $7.3 billion | $2.3 billion |
Lee County
Lee County sits between Charlotte and Collier County and is the most populous of the three, with over 822,000 permanent residents and over 5.1 million visitors estimated in 2023.
In Lee County, the estimated losses from another HAB total $195 million in recreational and commercial fishing revenues and expenditures. The number of potential jobs lost in one year is estimated to be 24,808, and the loss in output is estimated to be $3 billion.
Property value losses are estimated to lose $3.8 billion with an associated $21.4 million in lost property tax revenue.
The value of non-market recreation (or, quality of life) lost is estimated to be $5.3 billion. The table below summarizes the losses to Lee County.
Asset value and loss expected from an HAB in Lee County
| Economic Asset | Total Value | Total Loss Due To HAB |
|---|---|---|
| Fishing – Recreational/Commercial | $618 million | $195 million |
| Coastal Economy – Jobs | 87,300 | 24,808 |
| Coastal Economy – Output | $11.1 billion | $3.0 billion |
| Property Value Near Coast | $19.1 billion | $3.8 billion |
| Property Tax Revenue | $122.4 million | $21.4 million |
| Value of Outdoor Recreation (Quality of Life) | $16.6 billion | $5.3 billion |
Charlotte County
Charlotte County is the northernmost county in the Study Area, home to a population of nearly 203,000, and with annual visitors estimated at over a million in 2023.
For Charlotte County, the estimated losses from a HAB total $24 million in recreational and commercial fishing revenues and expenditures.
The number of potential jobs lost in one year is estimated to be 4,353, and the loss in output is estimated to be $466 million.
Property value losses are estimated to be a loss of $847 million with an associated $3 million in lost property tax revenue. The non-market value of outdoor recreation (or, quality of life) lost would be $518 million.
The table below shows the estimated losses to Charlotte County. For each category of loss, the total value of the economic asset is shown, followed by the expected loss.
Asset value and loss expected from an HAB in Charlotte County
| Economic Asset | Total Value | Total Loss Due To HAB |
|---|---|---|
| Fishing – Recreational/Commercial | $76.3 million | $24.1 million |
| Coastal Economy – Jobs | 15,404 | 4,353 |
| Coastal Economy – Output | $1.7 billion | $466 million |
| Property Value Near Coast | $4.2 billion | $847.2 million |
| Property Tax Revenue | $18.7 million | $3.2 million |
| Value of Outdoor Recreation (Quality of Life) | $1.6 billion | $518.6 million |
