ECONOMIC BENEFITS OF GREEN SPACES

How Green Spaces Benefit the Economy

[Download Economic Fact Sheet PDF]

More value, less time on the market. A study cited in Smart Money magazine¹ indicated that consumers value a landscaped home up to 11.3% higher than its base price. A second study by Aspen Environmental Companies² found that landscaping investments are nearly always recovered and can help reduce time on the market.²

Turfgrass reduces runoff. Rreduced runoff volume from a turfgrass covered area offers the potential to decrease the storm-water management requirements and costly structures used in urban development.¹¹

Fast growth, major economic impact. According to a USDA-funded research report³, the environmental horticulture industry [green industry] "is one of the fastest-growing segments of the nation's agricultural economy." Its economic impact was estimated to include:

• $147.8 billion in output
• $64.3 billion in labor income
• $6.9 billion in indirect business taxes
• 1,964,339 jobs
• $95.1 billion in value added

Businesses benefit. Roadside studies by the University of Washington stated that drivers indicated it was easier to locate roadside businesses when they were framed by trees and vegetation (rather than having this green material removed).⁴

Parks improve property value. There is a significant link between the value of a property and its proximity to parks, green belts and other green spaces. Studies of three neighborhoods in Boulder, Colo. indicated that property values decreased by $4.20 for each foot away from a greenbelt.⁵

Interior plants save air conditioning costs. According to the International Society of Arboriculture (Champaign, Ill.), the net cooling effect of one young, healthy interior tree (such as in an atrium or winter garden) is equivalent to 10 room-sized air conditioners operating 20 hours a day.⁶

Views of plants increase job satisfaction. Employees with an outside view of plants experience less job pressure and greater job satisfaction than workers viewing man-made objects or having no outside view. They also report fewer headaches and other ailments than workers without the view.⁷

Nature increases worker productivity. Psychologists have found that access to plants and green spaces provides a sense of rest and allows workers to be more productive.⁸

Landscaping renews business districts. Greening of business districts increases community pride and positive perception of an area, drawing customers to the businesses.⁹

Landscape design factors. How can you get the most from an investment in green space? A study by Michigan State University ranks design sophistication, plant size and plant material type as the most important factors in planning a landscape which will help to maintain or increase home value.¹⁰

See below for more resources on how green spaces benefit the economy:

ISU Studies Effects of Warmer Temperatures in Urban Areas
"Urban heat greatly impacts the health and quality of life of people living in cities. This effort will have very practical application to local government in our building codes and our planning for green spaces," said Jim Stout, program manager of the Indianapolis Mapping and Geographic Infrastructure System.

How Interior Plants Help Lower a Room’s Temperature, Saving Air Conditioning Costs
[Download PDF]

Economic Benefits of Landscaping
http://www.critterridgelds.com/EconomicBenefits.html

Economic Impacts of the Green Industry in the United States
http://edis.ifas.ufl.edu/FE566#TABLE_1

Turfgrass: The Economic Impact
[Download PDF]

Landscaping for Energy Efficiency and a Healthier Environment
[Download PDF]

The Value of Public Space
[Download PDF]

Sophisticated Landscaping Can Increase Perceived Home Value
[Download PDF]
[Download Full Report PDF]

Bibliography: Economic Fact Sheet

1 Smart Money magazine, March 3, 2003 issue

2 Aspen Environmental Companies
http://www.aspenenviro.com/benefits.html

3 University of Florida, Institute of Food and Agricultural Sciences: Economic Impacts of the Green Industry in the United States
http://edis.ifas.ufl.edu/FE566#TABLE_1

4 University of Washington, College of Forest Resources:
The Freeway Roadside Environment
http://www.cfr.washington.edu/research.envmind/Roadside/Rsd-Prefs-FS9.pdf

5 The Urban Institute: The Public Value of Urban Parks
http://www.projectevergreen.com/pdf/311011_urban_parks-2.pdf

6 Professional Landcare Network
http://www.plantsatwork.org/pdf/beat.pdf

7 Virginia Cooperative Extension: The Value of Landscaping
http://www.ext.vt.edu/pubs/envirohort/426-721/426-721.html#TOC

8-9 Virginia Cooperative Extension: op. cit.

10 "Landscape Plant Material, Size, and Design Sophistication Increase Perceived Home Value," by B. Behe et al., Journal of Environmental Horticulture, September 2005.

11 Schuyler, T. 1987. Controlling urban runoff: A practical manual for planning and designing urban BMPs. Metropolitan Washington Council of Governments, Washington, DC.