Funded by the National Oceanic and Atmospheric Administration, and managed by Restore America’s Estuaries, TBD Economics updated the 2009 Report, The Economic and Market Value of Coasts and Estuaries: What’s at Stake? The 2021 Report, The Economic Value of America’s Estuaries, illustrates that how protecting and restoring coastal wetlands can mitigate the dire impacts of climate change. Six estuary case studies provide a first-order estimate of the value that natural-infrastructure and blue carbon contribute to our Nation’s coastal communities and the global economy. Estuaries are geographically small and economically huge. They make up 4% of America’s total landmass, yet house 40% of the U.S. population and produce 47% of the country’s GDP. Report found here!
In 2020, TBD Economics completed a study for Ocean Conservancy Comparing the Economic Impacts of Marine Recreational Fisheries of Texas and Louisiana on Coastal Economies. The effects of marine recreational fishing expenditures across the two states were analyzed using IMPLAN - The annual economic contribution to the local economy for each of three key recreational fish species landed was calculated using IMPLAN software. Results show that from 2010-2016, marine recreational anglers in Texas spent an average of $92 more per pound landed of these three key species than marine anglers in Louisiana spent for the same fish. Report found here!
In 2019, TBD Economics prepared an in-depth study on Florida Keys National Marine Sanctuary (NMS), one of thirteen nationally-designated marine sanctuaries in the United States. This study, funded by the National Marine Sanctuary Foundation, describes how spending on tourism and recreation driven by resources within and around Florida Keys NMS provides jobs, wages, and contributions to gross domestic product (GDP) across the state of Florida. Overall, tourism and recreation spending in Florida Keys NMS contributed $4.4 billion to the economy, in 2017 and supported almost 43,000 jobs. Report found here!
The APEC project, “Assessing the Value of Natural Infrastructure in Coastal Ecosystems in the APEC Region” aims to promote an understanding of assessing the economic value of services provided by Natural Coastal Infrastructure in coastal areas in the APEC region to improve disaster risk reduction, response, and coastal resilience. Metro Manila and Guangzhou are the focus areas for the economic valuations.
In response to Executive Order 13792 and 13795, we were commissioned and funded by The Pew Charitable Trusts, Earthjustice, and the Natural Resources Defense Council to develop economic scenarios to assess the potential economic impacts of the Northeast Canyons and Seamounts Marine National Monument and Papahanaumokuakea National Marine Monument on commercial fisheries.
TBD Economics, LLC provided senior technical advice for a Bureau of Ocean Energy Management (BOEM) report on the Socio-Economic Impact of Outer Continental Shelf Wind Energy Development on the Fisheries in the U.S. Atlantic.
TELLING YOUR VALUE STORY
TBD Economics can help you to tell your Value Story, and provides training on how to value coastal restoration and other sustainability efforts. See our presentation from Restore America's Estuaries' Living Shorelines Workshop and contact us for more information.
In 2020, American Aquafarms announced their plan to build one of the world’s largest net-pen salmon farms. During their engagement with the community, American Aquafarms, likely overexaggerated several of the benefits, and ignored many of the potential costs to the local communities. This raised concerns for not only this project but also about future efforts to site large-scale aquaculture facilities in Downeast communities. This analysis addresses those concerns by taking a deeper look at the risks to the local economy from a large-scale aquaculture project, examining the potential impacts of the fabric of local communities, and taking a closer look at some of the assumptions made by American Aquafarms. Contributing lessons which can not only apply to communities surrounding Frenchman Bay, but other communities along Maine’s Downeast Coast. Analysis found here!
The primary goal of the project is to work with local partners to restore natural conditions, functions, and biological responses to this former estuarine tidal marsh wetland area severely impacted by human development. This project increases functional and accessible estuarine tidal marsh, and substantially increases chances of salmon survival. Not only does this analysis describe the estuary habitat degradation and reductions in salmon populations is also details the impact these conditions have on the health and well-being of the Stillaguamish tribe. Analysis found here.
