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Benefits of Wetland Banking <br />Economic Benefits <br />Wetland banking at former mine lands can provide direct economic benefits to site owners as well <br />as the surrounding community. For site owners, the financial rewards of establishing a wetland bank <br />on site are clear. Bank sponsors can sell credits to developers for $2,300 to upward of $100,000 per <br />acre depending on the wetland's location, the services it provides, and the market value of the <br />credits. The cost of developing large wetland tracts is significantly less per acre than creating a small <br />parcel, and accordingly, the return on investment is much higher. For instance; the Missouri <br />Department of Transportation (www.conservation.state.mo.us/conmag/2003/O1/almanac.htm) <br />estimates that the development of small wetland parcels in the state can cost more than $20,000 per <br />acre while large parcel development can be completed for as little as $3,000 per acre. With credits <br />from the Missouri bank (http://www.mldda.org/wetlandbank.htm) priced as high as $17,000 per acre, <br />the potential for profit is significant. <br />The community stands to gain economically from wetland banking as well, in the form of increased <br />local property values and tourism revenue. This economic benefit, however, is typically realized <br />only after site remediation is underway or <br />completed. Depending on the extent and ~~ e <br />severity of contamination at the site, this ~ ,_ ~~,,: <br />cleanup process can take decades to complete. `~~ - "w~ <br />e P.6. A. R Rfa, E ~(1T E <br />Once the environmental quality of the site is o, ~ ~'~ ~ s <br />restored, however, nearby property values ~` ' 'a <br />previously impaired by real and perceived ~ ~ ~" <br />4 ~ a s a ~ ~ s~~` l~l ~' ,~z, Vh'1 <br />contamination may increase. Additionally, ~ tTO ,~~~ o~ ~ ~ ~,, " <br />g -. . <br />the creation of new wetlands provides the ~ 3a' y ~ ~ ~ ~~ t r~ tip ~t~ q~ 7~~ E_u~t, ~, 4„~,. ~,~ ~' <br />community and visitors to the area with new ~ ~' t '~~ ~~` ~: ~~ =~ ~~- ~~% <br />recreational opportunities such as hunting, ~` ~ fiE ~;" ~~,!'~~,x;~,~w~:~`~-qi~'~+~ ~' ~`_ <br />F EI ~u~ul~riY~c~fl1~~FE~,it~~r~ ,~,fi= k ~, <br />fishing, birdwatching, and photographing f y~r ~ ~ , a "~ <br />wildlife. These activities can produce 1 ~~,,..cc- ~y~~ ,~,~;,~~i i~,~~~~ ~,t <<t~hi„~~i <br />significant economic benefits for the ~ ~~~~r~r~~,~~t~, ~t~, ~r,~r<<~,}~,~;r~~>.~,r~, ~j ~.~ti~~~F,1~~~ <br />community; in fact, the National Survey of r ~' <br />Fishing, Hunting, and Wildlife-Associated '` } `~' ~" "'~ " "` "~i"""' ~ - <br />Recreation found that over 82 million U.S. <br />adults engaged in wildlife-associated recreation in 2001, spending a total of $108 billion on <br />equipment, guides, lodging, and food. The increase in property values and tourism revenue will, in <br />turn, increase tax revenue for the community and aid the community in marketing itself as an <br />attractive environment for businesses and families. <br />4 <br />