What’s a healthy bay system worth, anyway?
We, as environmentalists and conservationists, know instinctively and through our own deep appreciation of the beauty of Tampa Bay that it is worth every effort to protect it. And we have back-up from work done by the Tampa Bay Regional Planning Council that details the value of the bay in dollars.
In 2023, the TBRPC published a study, The Economic Valuation of Tampa Bay. You can read it at www.tbrpc.org/valueoftampabay.
Just a bit of background:
Tampa Bay is a 400-square-mile estuary in the second-most populous region in the state. The estuary is of national significance and of vital importance to the surrounding region’s economy. The natural resources of Tampa Bay support essential industries, including tourism, marine transportation, and commercial and recreational benefits. Also, the Tampa Bay watershed includes rich and diverse habitats that provide ecological services and community benefits that enhance our quality of life.
Tampa Bay supports the following economic benefits:
- Total Annual Output = $32.1 billion
- Jobs for 207,000 employees, 1 job/10 job-holders in the area
- $52,769 in added home value for each residence
- $3.2 billion in regional property values
- $52.3 million in annual carbon sequestration
- $714.5 million in annual denitrification services
- $924.4 million in flood protection
The Tampa Bay estuary contributes significantly to our region’s economy by promoting commercial enterprise and scientific research, supplying important ecosystem services, and adding value to properties, whether residential or corporate. The study done by the Regional Planning Council concludes that the bay is worthy of investments to keep it healthy and productive.
Putting an economic value on Tampa Bay helps us to communicate the importance of the protection of our very precious bay. We should all commit ourselves to sharing responsibility for this work, for today, and for the future.
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