Investing In The Great Lakes
Can restoring the Great Lakes be good for the economy? Some say, yes. A $26 billion investment over the next five years could create $50 billion in economic benefit for the Midwest. Short-term economic activity from clean up of the Great Lakes would generate an additional $30 billion to $50 billion and create thousands of jobs.
The majority of the cost, $13 billion to $14 billion, would go to upgrade municipal treatment plants to reduce combined sewer overflows. The rest would be used to stop invasive species, clean up contaminated sediment in areas of high concern, and restore and protect wildlife habitat.
The benefits would come from tourism, the fishing industry, recreation and increased home and property values as a result of fewer beach closings and improved water quality. The $50 billion economic impact of implementing the plan is conservative because some benefits aren't quantifiable, for instance impacts on human health, increase in commercial property values and total jobs.
September 8, 2007 8:22 AM | Category: Great Lakes