What is a salmon stream worth?
Or a lake, or a forest, or a view?
Growth spurts are awkward for communities. The Mat-Su Borough is big enough to absorb the crowds, but how and at what cost? We’re already struggling to build and pay for schools and roads to accommodate the growing population. From Palmer one can see farmland that has been converted into residential neighborhoods. And many of our traditional trails have either been blocked by recent development or have deteriorated from overuse.
To make good decisions about the future and to sustain the character of the valley, we first need to understand what our lands do for us and how valuable they are to our communities. Farms, fish, trails, open space and clean water provide essential benefits to residents. These are some of our community assets and need to be considered in land use decisions as the borough grows and changes.
So, what is a community asset worth? That’s easier to determine for some assets than it is for others. Sportfishing and commercial salmon industries contribute an estimated 8,056 jobs and $865 million to the local economy, so the economic value of lands with fish habitat can be partly quantified. 66% of Alaska’s agricultural production comes from the valley accounting for 2,000+ jobs and bringing in $55 million annually, so cultivated lands have a dollar value. But, what is the value of a marsh that acts as flood control and wildfire mitigation? The economic impact of tourism and recreation in the Borough has surpassed that of agriculture. Many of us make our living from sightseeing, flightseeing, lodging for tourists, river guiding, and more. How much is a viewshed worth?
We know the value of raw land shouldn’t be considered zero, but how do you put a dollar value on it? Recent studies in the Mat-Su have undertaken to do just that.