Title: "Assigning dollars to natural resources: Why and how? - The 2023 Biscayne Bay Economic Study" by Grace Johns,

Senior Associate and Economist, Hazen and Sawyer, Florida

Abstract:

Natural resources provide tremendous
value to our economy and wellbeing. This
presentation describes the reasons and methods for
assigning dollar values to natural resources using,
as an example, the 2023 Biscayne Bay Economic
Study prepared for Miami-Dade County and the
South Florida Water Management District. This
study estimated the dollar value of the Bay’s
recreational activities to the local and regional
economies in 2022 and relative to the total
economy. Also estimated were the impact of the
Bay and the Miami River on residential property
values. Other products of this study include the
annual number of person-days of recreation use by
activity and an historic perspective of recreation
value since 2005.