Part VII II
Three scenarios were examined for ecosystem service enhancement and valuation. Providing this information allows for a stronger understanding of the economic benefits the project provides. Identifying the dollar value of ecosystem services enhanced by the project and provided to the public also strengthens the capacity for funding proposals. Parks should include an ecosystem service analysis to strengthen environmental impact assessments. Policy makers in Washington should lead the nation in requiring ecosystem service analysis in all applicable environmental impact statements.
Internal Policy and Procedure Revamp
Shifting private and public investment toward green infrastructure, buildings and investment requires that natural capital be recognized as a capital asset that is measurable within standard accounting systems. The creation of Tacoma Public Utilities (TPU) in 1893 was a visionary and successful institutional development. Although considered a radical and expensive idea at the time, the construction of the 43-mile Green River pipeline to supply water to the city was approved by Tacoma’s citizens in 1909. Had the utility required a threshold rate of return on investment, it would likely never have justified this daring project. The goal of the investment was not to maximize “net present value” but to provide safe and reliable drinking water for the people of Tacoma and Pierce County into the distant future. By 1968, Tacoma had acquired 10,000 acres of land surrounding the Green River Watershed and declared its source water protection program a success.79 Although the project was controversial at the time and presented a number of legal, physical and political challenges, it is now recognized as a magnificent investment. Tacoma has since acquired an additional 5,000 acres in critical areas of the Green River Watershed.80
Green Jobs Analysis
Ecosystem services and jobs are closely connected. An examination of jobs created by capital and restoration projects that improve ecosystems generally looks at how many construction jobs are created by moving earth or planting native vegetation. Yet most restoration projects also provide quantifiable ecosystem goods and services that have economic importance and provide an increase in sustainable, well‐paid jobs. Establishing an increase in permanent employment is far more important than providing temporary jobs, and federal agencies recognize and measure this accordingly. In 2011, Washington state parks were facing budget cuts and the forced closure of most state Parks. Earth Economics had a study of the jobs provided by state parks to rural communities underway. After providing data to state legislators on the jobs supported by state parks, legislators agreed that funding was important (Earth Economics does not lobby or promote legislation). Both Democrats and Republicans joined in passing a $70 million funding mechanism called the Discover Pass.1 The bill was called “absolutely critical” because 90 percent of the state parks budget was subject to being cut in the governor’s original proposal.81 Jobs analysis (i.e., the number of jobs created) is increasingly important for securing funding and is a part of many federal applications. Restoration projects can and should be effectively linked to economic advancement and sustainability.
Decision-makers for local jurisdictions and tribes should consider an “Accounting Review” of existing capabilities to implement natural capital accounting within some of MPT parks. The review can be used to make recommendations for incorporating ecological economics and ecological accounting methods, procedures and auditing. Economic Impact of Metro Parks Tacoma Ecosystem Services
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