Shared Water Resources: Economic Value Water resources and the natural environments that they sustain have shaped the economy of the PlanET Region. Tourism and recreation-based industries flourish regionally due in large part to readily-accessible water resources that also enhance the value of adjacent real estate. Additional economic benefits are offered by regional water resources that have been harnessed to generate a safe and renewable energy source. Clean water resources and the lifestyles they enable also support existing enterprises and continue to attract new job-creating businesses to the region while supporting an agricultural industr y that satisfies nutritional and commodity needs locally and beyond.
TOURISM
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East Tennessee is an international tourism destination, and the region’s iconic landscape is one of its main attractions. Rolling mountains, ridges, and foothills, abundant streams, rivers, and reser voirs, and the diversity of plant and animal life collectively attract visitors from within the region, across the countr y, and around the world. The region realizes significant financial benefits from these visitors. Within the five counties of the PlanET Region, tourism-related industries generate more than $1.3 billion each year and provide employment for an estimated 13,000 people. 9 The region’s hospitality industr y, including hoteliers, restaurants, marinas, retail shops, and
transportation providers, as well as recreational outfitters, outdoor adventure companies, and ecotourism entrepreneurs, all depend on patronage from tourists seeking to actively and passively enjoy the region’s shared water resources.
PROPERTY VALUE Views of and physical access to waterbodies also enhance property values in the region. All five counties within the PlanET Region boast properties with direct access to rivers, reser voirs, and streams. Studies have shown that the health of these water resources affects the value premium realized by adjacent properties. One study suggests that a one-meter change in water clarity—a measure of the depth of visibility below the water ’s surface—can influence property values in the range of tens of thousands to millions of dollars. 10
DAMS: FLOOD CONTROL AND HYDROELECTRIC POWER The PlanET Region is home to many dams, operated by the Tennessee Valley Authority (TVA) and Army Corps of Engineers (ACOE), that manage the flow and water level of the region’s rivers and the reser voirs impounded behind each dam. This management has significantly reduced instances of major flooding along main river channels and has enabled safe passage for recreational and commercial vessels.