Economic analysis of the Florida Everglades restoration

Abstract

An economic valuation methodology was developed in order to monetarily quantify the benefits resulting from the Indian River Lagoon - South (IRLS) $995 million Everglades restoration project. Service flows of the IRLS were identified and their associated economic baseline values were estimated utilizing existing research. A water quality baseline for the IRLS was also established and compared with the best available standards. Benefits accruing beyond the baseline values given the completion of the IRLS restoration were estimated via benefit transfer to be approximately $159 million annually, importantly factoring in the established IRLS water quality baseline.