The Wealth of Naturein Indian River County

David L. CoxCox Consulting

Vero Beach, Florida

Future Benefits?

Is purchasing environmental landsa good investment for the future?

What are the returns on this investment?

Three Kinds of Benefits

Critters Cash

Kids

Cash

Can we get concrete estimates of the benefits of land acquisition, say in terms of currency?

Green Infrastructure

A system of conservation core areas,buffers, and corridors to maintain ecosystem health, to assure watersupplies, and to provide for wildlifehabitat, recreation and open space.

Adapted from Lois Bush, FDOT,Sustainable TC Mapping Series, 2004.

Ecological Economics

Places value on ecosystems - in terms of currency - so that we canbetter understand the benefits and costs of how we manage nature.

Ecological Economics

Views nature as “natural capital” which generates goods and services.

These “ecosystem services” are criticalto Earth’s life-support system,and are the basis of our welfare.

Ecosystem Services

Water Regulation Hydrological flows for ag/industry

Habitat Refugia Nurseries, migratory species habitat, etc.

Water Supply Storage and retention of water

Disturbance Regulation Flood control, storm protection

Nutrient Cycling Storage, processing, cycling of nutrients

Recreation/Cultural Ecotourism, sport fishing, education, etc.

Waste Treatment Water purification, pollutant removal

Ecosystem Services

Food Production Agricultural crops, fish & game

Gas Regulation Control of atmospheric composition

Raw Material Fiber, timber & fuel production

Biological Control Keystone predator control of prey

Climate Regulation Greenhouse gas regulation

Pollination Reproduction of plant populations

Soil Formation Weathering, bioaccumulation of organics

Estimated Value of Annual Ecosystem Services: All County Lands

$236,771,197

$66,049,251

$78,250,770

$245,595,759

$170,298,617

$58,174,335

Water Regulation

Habitat Refugia

Food Production

Gas Regulation

Water Supply

Disturbance Regulation

Nutrient Cycling

Recreation/Cultural

Waste Treatment

Raw Material

Biological Control

Climate Regulation

Pollination

Soil Formation

Total Value: $855,140,000

Estimated Value of Annual Ecosystem Services: County Environmental

Lands

$2,351,190

$1,830,640

$2,659,535

$172,224

$7,325,749

$7,615,575

Water Regulation

Waste Treatment

Food Production

Gas Regulation

Water Supply

Disturbance Regulation

Climate Regulation

Recreation/Cultural

Nutrient Cycling

Raw Material

Biological Control

Climate Regulation

Pollination

Soil Formation

Total Value: $23,476,000

Value of Annual Ecosystem Services for

Indian River County: By Ecosystem

All County Lands

$30,598,243

$4,382,473

$15,193,594

$5,606,003

$6,750,798

$498,742$24,087,000

$150,693,500

$617,329,576

Coastal Strand

Indian River Lagoon

Seagrass Beds

Reefs

Estuarine Wetlands

Freshwater Wetlands

Forests, Scrub & Ruderal

Lakes & Rivers

Agricultural

Total Value: $855,140,000

Value of Annual Ecosystem Services for

Indian River County: By Ecosystem

County Environmental Lands

$31,000

$19,643,000

$606,000 $2,846,000

Coastal Strand

Indian River Lagoon

Seagrass Beds

Reefs

Estuarine Wetlands

Freshwater Wetlands

Forests, Scrub & Ruderal

Lakes & Rivers

Agricultural

Total Value: $23,476,000

Value of Annual Ecosystem Services for

Indian River County: By Ecosystem

All Public Lands

$24,087,000

$150,693,500

$4,382,473

$30,598,243

$1,244,759

$554,151,344

$31,057$3,305,088

Coastal Strand

Indian River Lagoon

Seagrass Beds

Reefs

Estuarine Wetlands

Freshwater Wetlands

Forests, Scrub & Ruderal

Lakes & Rivers

Agricultural

Total Value: $768,500,000

Value of Annual Ecosystem Services for

Indian River County: By Ecosystem

Values in $1000’s

0 250,000 500,000 750,000 1,000,000

Value/Year for AllLands

Value/Year for AllPublic Lands

Value/Year forCounty Acquired

Lands Coastal Strand

Indian River Lagoon

Seagrass Beds

Reefs

Estuarine Wetlands

Freshwater Wetlands

Forests, Scrub & Ruderal

Lakes & Rivers

Agricultural

Indian River County Environmental Lands

Estimated Program Costs

Total land acquisition costs, federal, state and local $56,000,000

Lost tax revenue (over 15 yr. bond) $5,819,775

Improvements $1,160,000

Future bond interest expense $3,100,000

Maintenance & staff $1,800,000

Total Program Costs over 15 yrs. $67,879,775

Indian River County Environmental Lands

Estimated Program Benefits

Value of ecosystem services over 15 yrs. ($23,476,000 x 15) $352,140,000

Total program costs, 15 yrs. $67,879,775

Return on investment 519%

Ecological Economics

What can a tool like this be used for?

Future Uses

• Evaluate enviroland acquisitions• Estimate value of restoration projects• Estimate value of “open space”• Evaluate agricultural lands• Project planning & decision-support• Assessment of sustainability