An Update of the Literature Supporting the Economic Benefits of Plants: Part 1 – Methods of Valuing Benefits

Abstract

This paper provides a review of the key research efforts that provide evidence of the economic benefits associated with plants and improved landscaped areas and the tools for assessing their monetary worth. These benefits may persuade reluctant residential homeowners to purchase plants and improve their landscapes, aid municipal leaders and policymakers in justifying green infrastructure-related funding decisions, and provide grounds for the construction industry for using biophilic design principles to ensure the built environment offers opportunities for green space interactions. In this way, the green industry can play a pivotal role not only in providing plants of high quality for these applications, but in educating stakeholders regarding the benefits discussed herein. This research should also be strategically incorporated into both industry-wide and firm-specific marketing messages that highlight the quality-of-life value proposition in order to maintain the industry's sense of value and relevance to residential landscape consumers of the future. If implemented effectively, the demand for green industry products and services may be affected positively.