$50 Billion in Economic Benefit Hinge on Restoration of Great Lakes

Cost to restore and protect the Great Lakes: $26 Billion.

Cost of creating sustainable economic growth and reviving the industrial heartland of America: Priceless.

It has been called the Rust Belt since the early ‘70s when the once thriving Great Lakes region – a producer of steel, metal and automobiles that attracted workers from around the world – fell victim to globalization and then the information economy. Factories and mills closed and crestfallen populations of workers migrated away in search of jobs. But leading economists are releasing a report today showing that investing in the Great Lakes Collaboration Strategy (GLCS) has potential to economically revitalize the struggling region.

Each year, Rust Belt states average less than 2 percent of new growth, according to the 2004 Census. Yet, Great Lakes states are home to one-third of the nation’s population and produce one-third of the gross state product. Developing America’s North Coast: A Benefit Cost Analysis of a Great Lakes Infrastructure Program, promises that fulfilling the $26 billion investment (over the next five years) to implement the GLCS would actually produce $50 billion in long term economic benefits – not only paying for itself, but creating a net gain of at least $24 billion. In fact, there is potential for a new growth industry founded on freshwater innovation for heating, cooling, sanitation and food – an emerging magnet for skilled workers. Is there a financial advisor anywhere that would question such an investment?

The Brookings Institute report is being released today to kick off the third annual Great Lakes Restoration Conference in Chicago, Ill.

The conference, and new economics report, come at a significant time as legislation to implement the restoration strategy has been introduced in Congress and is awaiting action.

Read the report, “Healthy Waters, Strong Economy: The Benefits of Restoring the Great Lakes Ecosystem.”

“Healthy Waters, Strong Economy” summarizes the major findings of a more in-depth study of the benefits and costs of the GLRC Strategy by the same authors, “America’s North Coast: A Benefit-Cost Analysis of a Program to Protect and Restore the Great Lakes,” which is being released on the same day.

Use these links to learn more:

• In-depth Study: America’s North Coast: A Benefit-Cost Analysis of a Program to Protect and Restore the Great Lakes
• Summary Report of Major Findings: Healthy Waters, Strong Economy
• Announcement press release
• Press conference presentation
• Elected officials’ reactions

We’d love for you to download the study yourself and share the findings with others.Are you a blogger looking for something to write about? Oct. 15 is Blog Action Day, when bloggers are encouraged to post about environmental issues. This is an excellent chance for you to share your thoughts on this study and why you care about benefiting the Great Lakes and the region’s economic situation.

If you mention the study on your blog, we’ll post a link to your site and list you in our Study Blogroll. You can also set a trackback to this link for your post to be inserted as a comment to this page.

• Posted by Tiffany Pache on September 5th, 2007
• Tags: Great-Lakes-Collaboration-Implementation-Act-of-2007, Great-Lakes-restoration
• Similiar Posts:
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  • New Report: Restoring Great Lakes Would Bring Region $50 Billion in Economic Gain
  • Great Lakes Allies in Congress Rally Around New Report
  • New Analysis: Restoring Great Lakes Will Bring Major Lakeside Cities Each $200 Million to $13.3 Billion in Economic Gains
  • Invasive Species Take a Bite Out of State Wallets

2 Responses to “$50 Billion in Economic Benefit Hinge on Restoration of Great Lakes”

1. The Great Lakes Wire » $50 Billion in Economic Benefit Hinge on Restoration of Great Lakes Says:
   September 5th, 2007 at 12:05 pm

   [...] $50 Billion in Economic Benefit Hinge on Restoration of Great Lakes [...]

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2. Save The River » On the Seaway’s 50th Anniversary, Save The River calls for a better Seaway Says:
   June 30th, 2009 at 8:54 am

   [...] we know that there are specific and tangible economic benefits linked to a healthy Great Lakes and St. Lawrence River. We need to be restoring this magnificent [...]

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