Economic Benefits

Income and employment can be generated directly from the use of land. Properties located next to good quality green space can expect an increase in value.  A good environment will help attract investment, tourism and higher skilled workers. It can also reduce costs associated with health.

Earning a Living From the Land
Earning a living from the land is an ancient way of life. Apart from growing food, green spaces could be used to grow fuel and other crops which can be sold for an income. Income can come from licensing the use of the land or water for camping or fishing. These activities require some form of management and the resulting employment produces another benefit. The landscape could be planned to allow a range of multiuses to take place in addition to the commercial one, such as creating habitat or rights of way for walkers.

Increased Property Values and Tax Revenues
Properties located next to good quality green space can expect an uplift in values of 5-7% and up to 20% if water is involved. The premium is higher where green space is an integral and inseparable part of road and housing layouts. The knock on effect of increased property prices is an increase in tax revenues to the government when properties are bought and sold. The many new properties and businesses near Ipswich’s A River For All project will benefit from a similar uplift. The 1000 new homes nearing completion in Thorington Park will be able to market themselves as being near to Belstead Brook Park.

Attracting Inward Investment and Employment
A high quality, attractive environment is a factor in the decision of companies to re-locate or develop in an area. It is a key decision factor for higher skilled, specialist employees who may relocate with those companies. Moreover, it is a factor in retaining existing and new employees in the locality. As such, a high quality environment bolsters economic security. Regeneration programmes that improve a landscape can attract new developers and investors. The riverfront in Ipswich is a good example.

The Value of Green Tourism
A visitor study in 2008 in Suffolk Coast and Heaths AONB cited the most popular visitor activity as walking. Each day visitor spent £14.83; those that stayed overnight contributed £33.62 each. All the Haven Gateway Green Infrastructure projects will make a contribution to this industry, providing green linkages, improved accessibility, enhanced facilities and places to vist. The overall tourism package will be more comprehensive and visitor spend is likely to grow. The special landscape of Suffolk and North Essex is a major marketing asset. It is important that the green infrastructure receives investment in order to maintain and enhance that marketing position. South Sandlings Living Landscape Project is the first step in an ambitious plan to create a 3,000 hectare sustainable landscape for recreation that is rich in wildlife for the population of south-east Suffolk and north-east Essex.

References

Does Money Grow on Trees, Cabe Space

Groundwork UK, Improving local environments, improving local economies, 2007

The Value of Public Space, How high quality parks and public spaces create economic, social and environmental value, Cabe Space