About the Parkway

Economic Benefits

Economic Benefits of the San Joaquin River Parkway to the Fresno-Madera Region

Authors:
Scott Houser, Ph.D., Department of Economics,
California State University, Fresno
Deborah North, Land Stewardship Director,
San Joaquin River Parkway and Conservation Trust

Partial funding for this project was provided by a grant from the
Great Valley Center.

Executive Summary

The emerging San Joaquin River Parkway has already made a significant beneficial impact on the economy of the Fresno-Madera metropolitan area. This impact will continue to increase as the parkway expands. Significant benefits of the San Joaquin River Parkway include:

• Over 25 million dollars have been brought into the region through existing land acquisition, restoration, and trail projects. These funds would not have been otherwise available.
• Following a national trend for greenways near urban communities, property values near the San Joaquin River Parkway will increase. The parkway has the potential to increase the aggregate value of property in a zone of benefit by 34 million dollars and thereby increase tax revenues to local agencies.
• Preserving the river as a natural amenity has a significantly greater beneficial impact to the economy than developing the land for residential use. This is due to the economic benefits of the parkway as compared to the high costs which would result from providing community services and the development infrastructure to properties in the riverbottom and the associated costs of flooding.
• The parkway can be expected to generate between 3.1 and 4.5 million dollars annually through increased tourism trade. The parkway is an amenity that attracts visitors from outside the local area.
• Although difficult to quantify, it is clear that one of the greatest economic benefits of the parkway is its value as a recreational resource. In 1998 alone, approximately 15,000 people participated in organized foot races on the Lewis S. Eaton Trail. Each trip to the parkway generates revenue for the local economy.
• The parkway is evidence of a high quality of life and the commitment of local government and residents to provide amenities to attract new businesses and increase the scale of existing businesses.
• Through mitigating flood hazards, the parkway will prevent property damages that would likely exceed tens of millions of dollars during each major flood event.
• The River Parkway Trust's Economic Benefits Report describes the economic benefits of the San Joaquin River Parkway both in terms of the economic valuations that are generated and of the effect of the parkway on the local economy. Recommendations for specific studies and surveys are made.