The economic benefits of remediation actions in the Waukegan harbor area of concern

IF 2.3 3区经济学 Q2 ECONOMICS

Water Resources and Economics Pub Date : 2024-01-01 DOI:10.1016/j.wre.2023.100236

Emma Donnelly , Richard T. Melstrom , Lopamudra Chakraborti

引用次数: 0

Abstract

This paper estimates the economic benefits of restoring the Waukegan Harbor Area of Concern (AOC) along the shore of Lake Michigan in Waukegan, Illinois. Legacy pollutants left from industrial activities are a threat to human and wildlife health and limit commercial and recreational activities in the harbor. The AOC has undergone substantial remediation since its designation in 1987. We estimate the economic benefits of restoring the AOC using a hedonic analysis of home sales around the harbor before and after several remediation events. We find that home prices within 5 km (3 miles) increased $12,832 on average, with aggregate benefits of $169 million, after the most recent restoration announcement in 2020.

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沃基根港关注区补救行动的经济效益

本文估算了恢复伊利诺伊州沃基根密歇根湖沿岸沃基根港关注区（AOC）的经济效益。工业活动遗留下来的污染物威胁着人类和野生动物的健康，并限制了港口的商业和娱乐活动。自 1987 年被指定为 AOC 以来，已经进行了大量的修复工作。我们通过对几次整治活动前后港口周边的房屋销售情况进行保值分析，估算了恢复 AOC 的经济效益。我们发现，在 2020 年发布最近一次修复公告后，5 公里（3 英里）范围内的房价平均上涨了 12,832 美元，总收益达 1.69 亿美元。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Water Resources and Economics Environmental Science-Water Science and Technology

CiteScore

5.00

自引率

0.00%

发文量

审稿时长

51 days

期刊介绍： Water Resources and Economics is one of a series of specialist titles launched by the highly-regarded Water Research. For the purpose of sustainable water resources management, understanding the multiple connections and feedback mechanisms between water resources and the economy is crucial. Water Resources and Economics addresses the financial and economic dimensions associated with water resources use and governance, across different economic sectors like agriculture, energy, industry, shipping, recreation and urban and rural water supply, at local, regional and transboundary scale. Topics of interest include (but are not restricted to) the economics of: Aquatic ecosystem services- Blue economy- Climate change and flood risk management- Climate smart agriculture- Coastal management- Droughts and water scarcity- Environmental flows- Eutrophication- Food, water, energy nexus- Groundwater management- Hydropower generation- Hydrological risks and uncertainties- Marine resources- Nature-based solutions- Resource recovery- River restoration- Storm water harvesting- Transboundary water allocation- Urban water management- Wastewater treatment- Watershed management- Water health risks- Water pollution- Water quality management- Water security- Water stress- Water technology innovation.