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An Economic Impact Study: How the Middle Fork Greenway will strengthen the economy of Watauga County, Blowing Rock, and Boone


An Economic Impact Study: How the Middle Fork Greenway will strengthen the economy of Watauga County, Blowing Rock, and Boone Completed by the Institute for Transportation Research and Education December 4, 2017 Daniel Findley, PhD, PE Thomas Dudley Weston Head Joy Davis Sarah Searcy Steven Bert Prepared for the Blue Ridge Conservancy Funded by the Blowing Rock Village Foundation, Watauga County Economic Development Commission, Chetola Resort, and private donors, John and Lucy Aldridge, Ted and Marty Couch, and Bob and Susan Hambright

Cover Photo: Existing Middle Fork Greenway at Sterling Creek Park


TABLE OF CONTENTS

Map of The Greenway ........................................................................................................................ 1 Executive Summary ............................................................................................................................ 2 Introduction ............................................................................................................................................ 3 Background ................................................................................................................................. 3 Objectives ..................................................................................................................................... 4 Location ........................................................................................................................................ 4 Health Impact ......................................................................................................................................... 5 Introduction ................................................................................................................................ 5 Methodology................................................................................................................................ 6 Results ........................................................................................................................................... 6 Property Value Impact ...................................................................................................................... 7 Introduction ................................................................................................................................ 7 Approach ...................................................................................................................................... 7 Results ........................................................................................................................................... 8 Property Tax Impact ................................................................................................................ 8 Economic Impact .................................................................................................................................. 9 Economic Development ........................................................................................................... 9 Business Activity ..................................................................................................................... 10 Tourism Impact ....................................................................................................................... 11 Conclusions .......................................................................................................................................... 13 References ............................................................................................................................................ 14


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Middle Fork Greenway: An Economic Impact Study

MAP OF THE GREENWAY


Middle Fork Greenway: An Economic Impact Study

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EXECUTIVE SUMMARY

This report is an economic impact study of the proposed Middle Fork Greenway conducted by the Institute for Transportation Research and Education (ITRE) at North Carolina State University on behalf of the Blue Ridge Conservancy, a North Carolina 501(c)(3) non-profit organization. The 6.5 mile proposed greenway will connect Boone to Blowing Rock following the meandering Middle Fork New River in northwest North Carolina. The greenway was proposed by local residents of the area as a way to connect themselves and visitors to the environment, with the idea that opportunities for such connectivity have decreased over time with increases in vehicle travel. Additionally, the area is home to multiple tourist attractions such as Tweetsie Railroad, High Gravity Adventures, Mystery Hill, the Blue Ridge Parkway, Mountains-to-Sea Trail, and the Middle Fork New River, a state stocked trout fishing stream. The greenway would provide an opportunity for tourists to bike, run, or walk from town to town, stopping at attractions along the way. Consequently, it is likely that the greenway will attract more visitors, further growing the tourist market in the area, while also providing locals an alternative option of transportation and exercise. Studies, including those conducted on trails in North and South Carolina, have found that greenways benefit local economies by supporting economic development and job creation, increasing property values, and improving the physical and mental health of those who use the trail. To evaluate the potential benefits of the Middle Fork Greenway, this study incorporated quantitative models and cited the findings of reputable studies to develop estimates for the benefits that could be realized from the greenway. This evaluation showed that an investment in the Middle Fork Greenway could result in:       

38,000 annual trips on the greenway $10 million in health benefits (value of extended life over 10 years) 9.5% increase in the value of properties within a half mile of the greenway $296,000 increase in local property tax revenue per year $947,000 annual economic output 12 new jobs that support $276,300 in labor income 12,000 annual tourist trips on the greenway – estimated to generate $6 million in the local economy

These estimations are based on analytical models, discussed further in this report, that incorporate numerous state and national greenway studies as well as special considerations of the unique economic and demographic nature of the areas surrounding the proposed greenway facility. While some of these benefits will be experienced immediately upon the construction of the greenway, others may take several years to accrue as markets and individuals adjust to the infrastructure change.


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Middle Fork Greenway: An Economic Impact Study

INTRODUCTION

©Blue Ridge Conservancy

Background The Middle Fork Greenway is a proposed greenway trail that will run along the Middle Fork New River, connecting Boone and Blowing Rock, North Carolina. The idea was presented by a group of local residents in the 1990s and much has been accomplished on the greenway trail since, including easements on three parks, purchase of 12 linear acres, and nearly one mile of trail constructed. Land acquisition began in the 2000s, and along the way, the greenway has gained the attention of local governments, residents, and business owners. The greenway has been identified as a top priority for the area in multiple government reports, such as Watauga County’s Tourism Development Authority’s (TDA) Boone Area Outdoor Recreation Plan and Blowing Rock’s 2014 Comprehensive Plan. Construction of the greenway is congruent with both county and municipal goals of increased pedestrian connectivity and safety. Tweetsie Railroad paid for the first segment of the greenway to be constructed in 2012, which was then lengthened through funds from the North Carolina Department of Transportation, the Appalachian District Health Department, local individuals, and businesses. The current greenway now stretches a total of one mile at the center of the proposed route. The Middle Fork Greenway project by the Blue Ridge Conservancy, in partnership with High Country Pathways, Watauga County, and the towns of Boone and Blowing Rock, is funded through the Watauga and Blowing Rock Tourism Development Authorities, State and Federal granting agencies, foundations, and many individual donors.


Middle Fork Greenway: An Economic Impact Study

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Currently, progress is being made on the preparation for construction of several sections including section one, a mile and a quarter long segment of the trail running from the Tanger Outlets to just past the Foley Center at Chestnut Ridge Post-Acute Care Facility in Blowing Rock. The land just north of Tweetsie Railroad has been secured and construction is being planned for that segment as well. Once completed, the full greenway will be approximately 6.5 miles long and will connect to the existing Boone Greenway, creating almost 12 miles of continuous trails. The greenway is expected to improve the area’s aesthetics, provide a place for locals and tourists to travel and exercise freely between the towns of Blowing Rock and Boone, and connect local businesses and attractions to the pedestrian and bicycle traffic that the greenway would generate. The completed trail could become a popular tourist destination for outdoor enthusiasts and families alike, while offering residents a safe option to travel to local destinations on foot or bike, instead of having to use the adjacent fourlane highway.

Objectives This project was conducted to evaluate the economic impact of the proposed 6.5 mile greenway. Three types of economic impacts of the Middle Fork Greenway were examined through this study: 1. User health effects 2. Property value changes 3. Economic growth and tourism impacts By evaluating these three types of economic impacts, it is possible to identify the potential impact the proposed Middle Fork Greenway could have on the surrounding area.

Location The planned route alternates from running next to the road, similar to a sidewalk, to following the bends of the river. The planned route will be a 10-foot wide asphalt path, with 7-8 bridge crossings, culvert underpasses, and in some areas where the topography is steep, steel truss boardwalks. While much of the land surrounding the route is largely undeveloped, there are still various notable features and attractions along the path. As mentioned previously, the greenway will run near Tweetsie Railroad, a Wild-West themed amusement park, home to a classic narrow gauge train. There are various other tourist attractions along the route, including High Gravity Adventures, Mystery Hill, and Doc’s Rocks Gem Mine. The area is also home to many natural destinations such as the Blue Ridge Parkway, the Mountains-to-Sea Trail, several county-owned parks, and the Middle Fork New River, a state stocked trout fishing stream. Other notable features along the trail include various neighborhoods and housing developments, the Boone Golf Club, and major employers such as the Appalachian Regional Healthcare System and Appalachian State University’s College of Health Sciences. The greenway will become a way to link all of these attractions together, creating a tourist attraction in itself.


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Middle Fork Greenway: An Economic Impact Study

HEALTH IMPACT

ŠBlue Ridge Conservancy

Introduction Lack of physical activity is a significant health issue in the United States, as 51% of Americans do not attain the recommended daily amount of activity.1 Lack of physical activity is linked to obesity, diabetes, and high blood pressure, all of which can increase the risk for more serious, and potentially expensive health issues such as heart attack and stroke.2 Consequently, complications related to lack of physical activity are among the largest health costs in the United States, making up 20% of all money spent in health care.3 Greenways help address the lack of physical activity by providing opportunities for walking, running, and bicycling. In fact, studies have shown that greenways can increase physical activity levels in the surrounding area.4,5 Greenways also allow individuals to be outside in nature, which, in combination with physical activity, has been found to be beneficial for mental health, reducing depression and anxiety.6,7 The health benefits from the trail will be accessible to users of all abilities. The Middle Fork Greenway is committed to the goal of Americans with Disabilities Act (ADA) compliance where possible along the full length of the trail. The greenway, unlike the area hiking trails, will provide an opportunity for families or those with limited mobility to exercise while enjoying the surrounding natural environment.

Methodology To quantify the savings that would result from the increased physical activity due to the proposed greenway, our research team employed the World Health Organization’s (WHO)


Middle Fork Greenway: An Economic Impact Study

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Health Economic Assessment Tool, or HEAT model.8 The HEAT Model was developed by WHO to be used as a standardized tool for estimating the economic value of mortality improvements resulting from a transportation project, mainly bicycling projects. The model requires inputs for the number of individuals who are expected to use the trail, their average trip distance, and their average use frequency. Expected user counts were gathered from previous ITRE analyses and count studies and were adjusted relative to the population size and density of the Middle Fork Greenway area (see table below). Average trip distance was estimated by examining a sample of greenway studies of existing trails which are similar to the proposed Middle Fork Greenway.

Trail Brevard American Tobacco Trail Duck Trail River Greenway Monon Trail

Location

Trail Length (Miles)

Average Pedestrian Trip Length (Miles)

Average Cycling Trip Length (Miles)

Brevard, NC

5

2.6

5

Durham, NC

22

4

13

6 25 24

2.7 4 5

5 10 11

6.5

3.0

7.5

Cardinal Greenway

Duck, NC Fort Wayne, IN Indianapolis, IN Boone / Blowing Rock, NC Muncie, IN

62

8

17

Prairie Duneland

Portage, IN

10

4

11

Middle Fork

By applying the proportion estimated from the relevant literature, the highlighted row in the table above shows the average expected trip duration for walkers and cyclers on the greenway. The average distance of a trip for a pedestrian is expected to be approximately 3 miles, while the average cyclist is expected to bike 7.5 miles on the Middle Fork Greenway.

Results The Middle Fork Greenway is projected to generate approximately 38,000 annual trips, which provide health benefits for locals and tourists. Studies show that individuals who regularly walk or bicycle experience lower incidences of heart disease, stroke, type II diabetes, and other medical conditions. The World Health Organization’s HEAT Model was used to estimate the health benefits the trail would provide its users through a reduction in health risks (i.e. heart disease, stroke, type II diabetes), resulting in extended life for regular users. Over the ten years following the construction of the trail, regular users would collectively experience a benefit of extended life of approximately $10,000,000, with an annual benefit of $733,000 for the pedestrians and $267,000 for the cyclists. These levels of activity were derived from user rates of similar trails. Of the 38,000 annual trips, approximately 15,000 would be made by regular users. Regular users not only experience a higher magnitude of health benefits, they are more likely to be repeat customers of businesses located within the trail’s walkable area.


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Middle Fork Greenway: An Economic Impact Study

PROPERTY VALUE IMPACT

ŠBlue Ridge Conservancy

Introduction Greenways are a valuable resource that can provide enjoyment and health benefits to users. In addition to this direct benefit for trail users, greenways can create other benefits for the community such as increasing the desirability and property values of nearby homes. The Middle Fork greenway has the potential to transform the US321 corridor into a recreational area that will attract tourists in the area to extend their stay, and as a result accelerate the opportunities for businesses to develop. The potential for property value increases in the areas surrounding a greenway may encourage more local citizens and business owners to support a greenway project regardless of their own greenway usage plans. With higher property values, local and state governments may also experience benefits including increases in property taxes.

Approach Estimating the property value impact of a greenway under construction requires a statistical model designed to consider factors that can impact property values. Hedonic pricing models are well suited for this application because they statistically isolate the effects of relevant house and property characteristics, including proximity to the greenway, to measure what people would be willing to pay for them while holding other factors constant. Many potential factors can influence the value of a property but these can be broken down into four generalized categories: physical, market, demographic, and environmental factors.


Middle Fork Greenway: An Economic Impact Study

This study focuses on quantifying the extent to which people are willing to pay more to be closer, or farther, from amenities or environmental features such as schools, parks, landfills, etc. Greenways are an example of an environmental factor for which consumers are often willing to pay more. Specifically, research has shown that customers may pay more for a property that is in close proximity to a greenway than a comparable property that is not close to a greenway. Various methods have been used to quantify this phenomenon, such as a variety of survey methods and mathematical methods.9,10,11,12,13,14,15,16,17,18 Lindsey et al. (2004), for example, used a method in an attempt to isolate the effect of a greenway system on local property values.19 The majority of greenways studied by Lindsey showed a positive and significant impact on the surrounding property values. The study found that properties within a half-mile buffer zone of greenways showed an increase in property value of 2% to 14%. When analyzing greenways yet to be built, such as the Middle Fork Greenway, a common method involves identifying a similar existing trail that can act as a proxy for the proposed trail. The property value impact result from the proxy region can then be applied to the proposed greenway region. In this case, our team analyzed the Brevard Greenway in Brevard, NC as a proxy for the proposed Middle Fork Greenway. The proxy is ideal, as it is demographically and economically comparable to the Middle Fork Greenway area and has similar geographical properties. Property values were collected to build a hedonic pricing model and the results were later applied to the Middle Fork Greenway area. The model includes physical, market, demographic, and environmental variables, in an attempt to isolate the effect of the greenway on the surrounding property values.

Results The results of the model show that proximity to a greenway had a positive and significant impact on property values. Properties within a half-mile buffer zone experienced a 9.5% increase in property value compared to properties outside of the buffer. Based on these findings, this percentage was applied to the proposed location for the Middle Fork Greenway to identify the potential impact of the greenway on property values. Within a half-mile of the proposed Middle Fork route there are 2,327 mostly residential properties with an average value of $380,000 based on the 2016 tax assessed value. If the Middle Fork Greenway were constructed, the 2,327 properties within a half-mile of the trail would be expected to increase in value by an average of $36,000 per property.

Property Tax Impact As a result, considering the local property tax rate of 0.353% in Watauga County, the local government could expect a property tax revenue increase of approximately $296,000 annually. It is possible that this increase in property value around the trail and increased tax revenue could also attract businesses and developers to the surrounding area as well, which would enhance the corridor for locals and visitors to the area.

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Middle Fork Greenway: An Economic Impact Study

ECONOMIC IMPACT (1/2)

ŠBlue Ridge Conservancy

Economic Development Greenways can also be a catalyst for commercial economic development in addition to the property value impacts discussed in the previous section. Greenways can connect businesses to a potential flow of pedestrians and cyclists who are more likely to be repeat customers who spend more money than customers who drive.20 Creating a built environment where employees want to be also attracts companies looking to locate their facilities where valuable employees chose to live or recreate. There are multiple nearby case studies in which commercial development has been spurred by the construction of a greenway. The Swamp Rabbit Trail in Travelers Rest, South Carolina has been attributed with helping the town attract businesses to occupy 95% of its 42 vacant buildings in less than 10 years.21 The French Broad River Greenway in Asheville, NC attracted New Belgium Brewing Company, a large national brewery. The brewery stated that the greenway was one of the major reasons the company chose Asheville as the home for their East Coast brewing operations.22


Middle Fork Greenway: An Economic Impact Study

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Land between Boone and Blowing Rock is largely undeveloped, except for a section around Tweetsie Railroad. Steep gradients and limited water and sewage access may limit development along most of the route. Despite this, the addition of a greenway through this area could still encourage moderate local commercial development within these constraints. If the area becomes more populous, there is the possibility that Boone or Blowing Rock could extend water and sewage service.

Business Activity As they use the greenway, residents and tourists will likely spend money at nearby stores, restaurants, hotels, or various other types of commercial establishments. This money would be considered a direct economic impact; however, this is only a fraction of the total impact that money generated from the trail could have on the local economy. The total economic impact from trail-related business is comprised of the direct impact, as well as the indirect, and induced impacts. An indirect impact is the additional business that is stimulated by an increase in the direct impact. For example, a restaurant near the trail experiences an increase in business as a result of the trail being built (i.e. the direct impact); in response, the restaurant has to increase production inputs and buys more produce and food from local purveyors. The money that the restaurant spends through local suppliers is the indirect impact. The induced impact would be the money that the additional restaurant employees, and those employed at indirect businesses, spend at local businesses in response to the increased business at the restaurant. The Middle Fork Greenway is expected to have an annual usage of approximately 38,000 trips, with a direct economic impact of $580,000. This estimation was developed using data collected through previous greenway studies and was adapted relative to the Middle Fork greenway characteristics. Using the estimated annual use and the expenditure data, the direct impacts of the trail related business were applied to an IMPLANÂŽ (IMpact Analysis for PLANning) model developed for Watauga County to estimate indirect and induced impacts related to the proposed greenway. The results of the IMPLANÂŽ model can be found in the table below. The majority of these projected benefits would come from money spent at both restaurants and grocery stores. Including both the indirect and induced impacts, the greenway would generate close to a million dollars in economic output annually while creating 12 jobs resulting in a labor income of $276,300. It is important to note that this economic impact is dependent on the projected development that may occur when the greenway is built, and that these 38,000 trips are not individual unique users, but are instead an estimate of the annual traffic that the greenway will receive.


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Middle Fork Greenway: An Economic Impact Study

ECONOMIC IMPACT (2/2)

Impact Type

Annual Economic Output

Employment

Annual Labor Income

Value Direct

$581,000

Indirect

$207,000

Induced

$159,000

Total

$947,000

Direct

9

Indirect

2

Induced

1

Total

12

Direct

$185,000

Indirect

$47,000

Induced

$44,000

Total

$276,000

Tourism Impact Background and previous research In 2016, tourism brought a total of more than $231 million to Watauga County, providing approximately 2,640 jobs to the area.23 The area has long been a national destination for nature tourism and outdoor enthusiasts. Home to Boone, Blowing Rock, the Blue Ridge Parkway, and the Mountain-to-Sea Trail, Watauga County has become a gateway to the outdoors. The Middle Fork Greenway provides a chance to increase what is already a large tourist market by providing people with a walkable and bikeable connection between the many nearby attractions. The Middle Fork Greenway may be the thread that ties these local attractions together. There are many cases where greenways have become significant tourist attractions, bringing large numbers of visitors and money into local economies. The Virginia Creeper Trail, for example, brings over 100,000 visitors to Damascus, VA each year.24 These visitors spend money not only on trail activities but also at local hotels, businesses, and restaurants, stimulating the local economy. Similarly, but on a smaller scale, the Brevard Greenway in Brevard, North Carolina attracts approximately 8,750 tourists each year spending an average of $544 during their stay at local businesses, hotels, and restaurants. 25 Tourism in the Area Along the proposed route Tweetsie Railroad is approximately halfway between Boone and Blowing Rock. The Wild West themed park opened in 1957, attracting visitors who want to ride the classic narrow-gauge locomotive and enjoy other activities. There are various other tourist attractions in the area such as: High Gravity Adventures, Mystery Hill, Doc’s Rocks Gem Mine, Tanger Outlets, and Wahoo’s Adventures, a white water rafting and tubing outfitter. The area also has many nature destinations that bring tourists each year.


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The Blue Ridge Parkway crosses the proposed greenway route, Grandfather Mountain and Blowing Rock are nearby, and the area is home to popular trout fishing spots. There are also two bicycling races in the area each year: Blood, Sweat, and Gears, a 100 mile road race, attracts over one thousand participants each year, while the Blowing Rock Fall Classic, a 75 mile road race, attracts approximately 250 participants each year. It is clear that a cycling culture is already established near Middle Fork, and the greenway is expected to be well received by cycling tourists, particularly as the combined length with the established Boone Greenway can provide a 20-mile roundtrip ride.

ŠSteep Climbs

Being in an area with a significant level of annual tourism, the greenway could help link all of these attractions together, providing tourists with a fun and safe way of traveling to the sites between Boone and Blowing Rock. The Middle Fork Greenway could potentially attract bike rental locations around the trail while also supporting the development mentioned earlier in this section. According to the survey data collected from the geographic proxy site, Brevard, NC, approximately 32% of trail users are expected to be tourists, meaning that the Middle Fork Greenway could attract approximately 12,160 tourists each year. If the spending is consistent with spending by tourists on other greenways, tourism would account for more than $6 million each year. As mentioned earlier, the Virginia Creeper Trail attracts 100,000 tourists each year, showing that it is possible for greenways to become a significant tourist attraction.


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Middle Fork Greenway: An Economic Impact Study

CONCLUSIONS

The study outlined in this report examined three types of economic impact that could be realized due to the Middle Fork Greenway: 1. User health benefits 2. Property value increases 3. Economic growth and tourism impacts

Numerous potential benefits of the proposed greenway were identified, including improvements to health, increases in property values, land development, in tourism, additional expenditures, and overall economic growth. Specifically, the research team estimates that the addition of the Middle Fork Greenway could result in:

 $10 million in health benefits (value of extended life over 10 years)  9.5% increase in the value of properties within a half mile of the greenway  A $296,000 increase in local property tax revenue per year  $947,000 annually in business activity benefits  12 new jobs that support $276,300 in labor income  12,000 annual tourist trips on the greenway – estimated to generate $6 million in the local economy The timeframe for the business activity benefits and job creation relies heavily on the pace and amount of development that could be spurred by the greenway. As such, if the greenway results in a significant amount of economic development, as seen in other greenway and green space projects, these economic benefits are expected to become tangible more quickly. Considering the impacts of various other greenways around the country and the results of this study, it is likely that the Middle Fork Greenway will provide health, property value, and economic growth benefits similar to those forecasted. The greenway, in combination with efforts from both local governments and businesses and individuals, should transform the adjacent undeveloped properties into a location that is increasingly appealing to both tourists and locals while sustaining existing tourist and service sector businesses.


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REFERENCES

Centers for Disease Control and Prevention. (2011). US physical activity statistics. Pate, Russell, and and others. “Physical Activity and Public Health -- A Recommendation from the Centers for Disease Control and Prevention and the American College of Sports Medicine.” Centers for Disease Control and Prevention, US Department of Health, 1 Feb. 1995 3 Kostelec, Dan. “Southwest High Point Greenway: Health Impact Assessment.” Kostelec Planning. Oct. 2015. 4Cook, TJ, SW O’Brien, KN Jackson, S Searcy, and DJ Findley. Behavioral Effects of Completing a Critical Link in the American Tobacco Trail: A look at Impacts on Health, Transportation, and the Economy. Institute for Transportation Research and Education at NC State University, December 2014. 5 Dallat, Mary Anne T., et al. “Urban Greenways Have the Potential to Increase Physical Activity Levels CostEffectively.” European Journal of Public Health, vol. 24, no. 2, 2013, pp. 190–195. 6 Barton, Jo, and Jules Pretty. “What Is the Best Dose of Nature and Green Exercise for Improving Mental Health? A Multi-Study Analysis.” Environmental Science & Technology, vol. 44, no. 10, 2010, pp. 3947–3955. 7 Paluska, Scott A., and Thomas L. Schwenk. “Physical Activity and Mental Health.” Sports Medicine, vol. 29, no. 3, 2000, pp. 167–180 8 “Europe Health Economic Assessment Tool (HEAT).” World Health Organization, 2014 9 Lagerwey, Peter, and Brian Puncochar. Evaluation of the Burke-Gilman Trail’s Effect on Property Values and Crime. In Transportation Research Record: Journal of the Transportation Research Board, No. 1168, Transportation Research Board of the National Academies, Washington, D.C., 1988, pp.57-59. 10 Mazour, Leonard. “Converted railroad trails: The impact on adjacent property.” Master’s thesis, Kansas State University. 11 Murphy, Michelle. “The Impact of the Brush Creek Trail on Property Values and Crime.” Senior project, Sonoma State University. 12 Moore, Roger, Alan Graefe, Richard Gitelson, and Elizabeth Porter. The Impacts of Rail-Trails: A Study of the Users and Property Owners from Three Trails. Rivers and Trails Conservation Assistance Program, National Park Service, 1992. 13 Macy, Sydney, Leslee Alexander, Stuart McDonald, and Chris Ford. The Effect of Greenways on Property Values and Public Safety. The Conservation Fund and Colorado State Parks and State Trails Program, 1995. 14 Feeny, Stephen. The Mowhawk-Hudson Bike-Hike Trail and Its Impact on Adjoining Residential Properties. Schenectady County Department of Planning, 1997. 15 Recreation Trails, Crime, and Property Values: Brown County’s Mountain-Bay Trail and the Proposed Fox River Trail. Green Bay-Brown County Planning Commission. 1997. 16 Miami-Dade County Trail Benefits Study: Ludlam Trail Case Study. Miami-Dade County Park and Recreation Department, AECOM, 2011. 17 Munroe, D. K., D. C. Parker, and H. S. J. Campbell (2004) The Varied Impact of Greenways on Residential Property Values in a Metropolitan, Micropolitan, and Rural Area: The Case of the Catawba Regional Trail. Denver, Colorado, American Agricultural Economics Association. 18 Lui, Jenny, and Wei Shi. "Impact of Bike Facilities on Residential Property Prices." (2016): 15. page. Web. 19 Lindsey, Greg, Joyce Man, Seth Payton, Kelly Dickson. “Property Values, Recreational Values, and Urban Greenways.” 20 Consumer Behavior and Travel Mode Choice, ORTEC 21 Trail ride provides economic lessons for Asheville.” Citizen-Times, 11 May, 2015. http:// www.citizen-times.com/story/opinion/2015/05/08/trail-ride-provides-economic-lessonsasheville/ 70983602/ 22 Forbes. New Belgium Brewing Helped Asheville Win Another Award. May 2015 https://www.forbes.com/sites/darrendahl/2015/05/28/new-belgium-brewing-helps-asheville-win-anotheraward/#719189904dd5 23NC State Government. Impact of Visitor Spending. https://partners.visitnc.com/economic-impact-studies 24 Visit Abingdon Virginia. Virginia Creeper Trail. http://visitabingdonvirginia.com/virginia-creeper-trail/ 25 ITRE & Alta Planning and Design, Evaluating the Economic Impact of Shared Use Paths in North Carolina: Technical Memorandum: Brevard Greenway Year Two. https://itre.ncsu.edu/focus/bike-ped/supeconomic-impacts/ 1 2


Profile for Middle Fork

Middle Fork Greenway Economic Impact Study  

Middle Fork Greenway Economic Impact Study  

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