Calculating the Cost of Restoring Urban Streams: A New Suite of Economic Tools

Urban streams may seem inconsequential to the average person, but they are vital in supporting the overall health of the ecosystem. Clean urban streams provide benefits such as improved water quality and increased biodiversity, which not only improves the environment but also boosts the economy. Despite their essential role, urban streams often suffer from pollution and degradation caused by human activities.

To address this issue, an interdisciplinary team of researchers has come up with a new suite of tools to calculate the total economic value of enhancing urban stream quality. The team’s work specifically caters to federal and state agencies responsible for developing environmental regulations in the Piedmont Region of the United States, which spans from Maryland to Alabama.

The team’s tools utilize economic concepts such as “contingent valuation,” which involves estimating the economic benefits associated with a given restoration project. They also employ “hedonic price modeling,” which estimates the economic value of improved water quality by analyzing property values and sales of homes located near the restored urban stream.

The suite of tools is not only beneficial for understanding the economic benefits of restoring urban streams but also for advocating for better funding and resources to do the same. By providing a clearer picture of the economic advantages, policymakers and city planners can allocate resources more effectively.

The team’s work is not only relevant to the Piedmont region but can also apply to other urban ecosystems worldwide. Restoring and maintaining the health of urban streams is essential in promoting sustainable cities that support not only the environment but also the economy.

The suite of tools developed by the interdisciplinary research team provides a valuable resource for decision-makers while dealing with environmental issues. They are helping governments, organizations, and homeowners alike to understand the importance of restoring urban streams and why it should be an urgent priority.

Edited by Zeng Han-Jun
Written by Juliana Rodriguez