$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 Danitz Pache on September 5th, 2007
• Tags: Great-Lakes-Collaboration-Implementation-Act-of-2007, Great-Lakes-restoration
• Similiar Posts:
  • Economist Robert Litan on Economics of Restoration and Why Presidential Candidates Should Care about the Lakes
  • New Report: Restoring Great Lakes Would Bring Region $50 Billion in Economic Gain
  • Help the Great Lakes on Blog Action Day
  • New Analysis: Restoring Great Lakes Will Bring Major Lakeside Cities Each $200 Million to $13.3 Billion in Economic Gains
  • Great Lakes Allies in Congress Rally Around New Report

14 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 [...]

   Reply – Quote
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 [...]

   Reply – Quote
3. » Great Lakes Advocate Congresswoman Louise Slaughter Honored - Healthy Lakes - Healthy Lives Says:
   July 22nd, 2009 at 12:25 pm

   [...] This bill’s passage would have an incredible economic impact on the region.  The Brookings Report announced earlier this year that if fully implemented, the initiatives laid out by the Great Lakes [...]

   Reply – Quote
4. » Great News for the Great Lakes from Congress - Healthy Lakes - Healthy Lives Says:
   July 23rd, 2009 at 2:57 pm

   [...] Great Lakes are increasingly seen as an economic asset. According to a Brookings Institution study, investing $26 billion to restore the Great Lakes will lead to at least $50 billion in economic [...]

   Reply – Quote
5. » In Michigan, “It’s the Economy, Stupidâ€� All Over Again - Healthy Lakes - Healthy Lives Says:
   July 27th, 2009 at 7:15 am

   [...] as a prime concern to keep momentum going for their candidate. If that is the case, then the Brookings report detailing how restoration would not only save the lakes but recharge the Great Lake states economic [...]

   Reply – Quote
6. » Smack, Thud, Silence - Healthy Lakes - Healthy Lives Says:
   July 27th, 2009 at 7:17 am

   [...] Or, just perhaps, they just don’t get it. It could be that they don’t realize they are dealing with an issue that evokes visceral responses from the residents of the eight Great Lakes States, the stewards of 90 percent of our nation’s fresh water supply. They don’t understand how deeply we care about the Lakes, how much we really want restoration and the resulting revitalization of an entire region’s economy… [...]

   Reply – Quote
7. » Political Primer for Presidential Hopefuls - Healthy Lakes - Healthy Lives Says:
   July 27th, 2009 at 7:18 am

   [...] there is a strategy that will return vitality to this region. A Brookings Institution study finds that by investing in restoration efforts, the United States would effectively jump start [...]

   Reply – Quote
8. » I Drink, Therefore I Exist - Healthy Lakes - Healthy Lives Says:
   July 27th, 2009 at 7:25 am

   [...] 90 percent of our nation’s – surface fresh water. We have learned from economists with the Brookings Institution that spending that $26 billion would generate a$50 billion profit. So, it truly is pay as you go – [...]

   Reply – Quote
9. » Economist Robert Litan on Economics of Restoration and Why Presidential Candidates Should Care about the Lakes - Healthy Lakes - Healthy Lives Says:
   July 27th, 2009 at 7:29 am

   [...] The Healthy Waters, Strong Economy:The Benefits of Restoring the Great Lakes Ecosystem report released by Brookings Institute last week was authored by distinguished economist, Robert Litan. Currently, Litan is Vice President of Research and Policy at the Kauffman Foundation and is a Senior Fellow with Brookings in Washington, DC. Litan has also served as Associate Director of the Office of Management and Budget (’95-’96) and as Deputy Assistant Attorney General at the Justice Department, in charge of the Antitrust Division (’93-’95). He brought his esteemed analytical skills to this project, the result of which found that spending $26 billion to implement the Great Lakes Collaboration Implementation Act – the embodiment of the Great Lakes Regional Collaboration blueprint – would generate more than $50 billion in long-term economic benefit for the region. The Great Lakes would be restored, jobs would be created, property values would see a boost, wastewater treatment costs would go down and new business and new residents would be attracted to the region. After discussing the findings of this landmark economic analysis at the annual Healing Our Waters conference, he took a few minutes to speak with HOW’s blogger. [...]

   Reply – Quote
10. » New Report: Restoring Great Lakes Would Bring Region $50 Billion in Economic Gain - Healthy Lakes - Healthy Lives Says:
    July 27th, 2009 at 7:34 am

    [...] new report confirms in dollars and cents that the health of the Great Lakes economy depends on the health of [...]

    Reply – Quote
11. » Priorities: Something to Think About, President Bush - Healthy Lakes - Healthy Lives Says:
    October 1st, 2009 at 8:08 am

    [...] Now, I’m sure you see where I’m going with this – it is all about priorities. For what it costs us to be at war for two months in Iraq and three months in Afghanistan we could fully restore the Great Lakes, provide hundreds of thousands of jobs, raise property values, and revive the economy of the entire region. [...]

    Reply – Quote
12. » The Day after Tomorrow: The Great Lakes in Crisis - Healthy Lakes - Healthy Lives Says:
    October 1st, 2009 at 8:19 am

    [...] if the nation were to invest in the Great Lakes restoration plan the region and the nation would gain a 2-to-1 return on the investment – but it has to happen now, before climate change intensifies the problems plaguing the [...]

    Reply – Quote
13. » Great Lakes are the Economy, Stupid! - Healthy Lakes - Healthy Lives Says:
    October 1st, 2009 at 8:24 am

    [...] region and they have focused on the economy during their visits. Last year, Brookings Institution released a report that finds that by restoring the Great Lakes, hundreds of thousands of jobs would be created in our [...]

    Reply – Quote
14. » Presidential Candidates Take Note: Great Lakes Restoration a Recipe for Economic, Electoral Success - Healthy Lakes - Healthy Lives Says:
    October 1st, 2009 at 8:27 am

    [...] up and protect the Great Lakes and their environs.  A study just released by leading national economists for the Brookings Institution describes how federal follow-through on an already agreed upon $26 billion Great Lakes Restoration [...]

    Reply – Quote

Leave a Reply