A Comprehensive Environmentally Based Strategic Blueprint for N.C. s Coastal Economy Kris Noble Asst.Hyde County Manager/Director, Economic Development Todd BenDor Associate Professor, UNC Dept. City and Regional Planning Jane Harrison Coastal Economics Specialist, North Carolina Sea Grant Pete Peterson Distinguished Professor, UNC Institute of Marine Sciences
People Working!
The economic impacts of ecological restoration: ideas to guide better NC strategy Todd BenDor T. William Lester Avery Livengood Sophie Kelmenson UNC Chapel Hill Adam Davis Ecosystem Investment Partners Logan Yonavjak Yale University
In 2015, ecological restoration had a $24.8 billion national economic impact Impact Type Employment Labor Income Value Added Output Direct Effect 126,111 $6,272,130,931 $6,293,032,304 $9,479,980,786 Indirect Effect 26,444 $1,615,165,988 $2,556,810,292 $4,615,797,176 Induced Effect 68,843 $3,520,387,488 $6,292,819,878 $10,762,860,487 Total Effect 221,398 $11,407,684,407 $15,142,662,473 $24,858,638,449
Restoration supports up to 33 jobs per $1 million invested Comparison: Oil and gas 5.3 jobs per $1 million invested
Distribution of firms by type of restoration work Other 11% Financing 3% Consulting Legal 16% services 1% Other Supplies Monitoring 1% 13% Landscaping Supplies 1% Planning, Design and Engineering Physical 24% restoration (for example, earth moving, planting, burning) Real Estate/Site Acquisition 6%
We should do things to facilitate restoration Lower barriers/road blocks to restoration Streamline permitting (i.e. expedited building permits) Green economy benefits from: Strong, local public champions Early public examples (e.g. green roofs on city hall) Educational programs, focused on workforce training and regulators (i.e. energy efficiency training for building inspectors) Long term oyster improvements will require innovative non-point source pollution management
NCCF wetland restoration projects in Hyde County Product of public funding ($400,000 invested) NC Clean Water Management Trust Fund Albemarle-Pamlico National Estuary Partnership 1,350 acres of wetland restoration on former farm Income paid to workers: $140,000 (local) Value added to economy (gross regional product): $210,000 (local) Impact on economic output: $600,000 (mostly local) Job multiplier: ~10.5 jobs/$1 million invested
A Comprehensive Environmentally Based Strategic Blueprint for N.C. s Coastal Economy Make Restoration A Policy Priority Increase State Investments in Restoration: Oysters, wetlands, water quality retrofits, living shorelines, managing invasive species, etc. Leverage State and Local Funds to Compete More Aggressively for Federal Funds
Goal and Action Benchmarks Expand Executive Branch Engagement and Leadership Maintain and Expand Strong Legislative Support Promote Oyster Restoration Increase Federal Investments Modify Regulatory Laws and Guidance
Goal and Action Benchmarks Support Research and Monitoring Support the Creation of Financial Incentives for Restoration Related Business Development Train and Engage Local Workforce Link N.C. Tourism Promotion to Oysters Brand and Market N.C. Oysters
U.S.D.A. Farm Bill How Well Does N.C. Compete For These Conservation Funds? Largest Source of Conservation Dollars in the Nation $29.8 Billion Spent Since 2005
14 12 10 8 6 4 2 0 Comparing Agricultural Income to Conservation Spending by State % Conservation $ % of U.S. Ag Economy Iowa Texas Kansas Missouri Minnesota Montana Illinois North Dakota Colorado Nebraska Washington South Dakota Mississippi Wisconsin Ohio Indiana Oklahoma Idaho Kentucky Oregon Michigan Alabama Georgia New Mexico California Arkansas Tennessee Louisana Pennylvania North Carolina Wyoming Utah Maryland South Carolina Virginia Florida New York Arizona Maine West Virginia Delaware Vermont Nevada Hawaii Alaska New Jersey New Hampshire Massachusetts Connecticut Rhode Island D.C.
Conservation Spending Compared to Agricultural Income Precent of Conservation Spending (1995 2014) 12 10 8 6 4 2 0 Iowa MT NC 0 2 4 6 8 10 12 14 Percent of U.S. Agricultural Income (2004) CA
Estimated Jobs Created by U.S.D.A Conservation Dollars (2014) 2,500 2,000 Number of Jobs Created By Conservation Spending 1,500 1,000 $113M $134M $100M 500 $27M $9.5M 0 Minn. ($9.8B) Illinois ($9.7B) Kansas ($9.5B) N.C. ($8.2B) Wisconsin ($6.9B) State (Size of Agricultural Economy)
U.S.D.A. Farm Bill Conservation $ How Well Does N.C. Compete? Ranked 50 th (out of 51) in Competiveness for Dollars (Based on Size of Ag. Economy) $9.2M Generates an Estimated 161 Jobs Potential: 10X More $ and Jobs Based Upon Our Peers