While there are the obvious physical characteristics and noted health benefits of green spaces, there are many other perks of establishing more of these parks, trails and greenways in your community.
Economic Benefits of Greenways: Summary of Findings
Real Property Values
Many studies demonstrate that parks, greenways and trails increase nearby property values, thus increasing local tax revenues. Such increased revenues often offset greenway acquisition costs.
Spending by local residents on greenway related activities helps support recreation related business and employment, as well as businesses patronized by greenway and trail users.
Greenways often provide business opportunities, locations and resources for commercial activities such as recreation equipment rentals and sales, lessons, and other related businesses.
Greenways are often major tourist attractions which generate expenditures on lodging, food, and recreation related services. Moreover, tourism is Maryland's second largest and most stable industry, and is projected to become its largest.
The agency responsible for managing a river, trail or greenway can help support local businesses by purchasing supplies and services. Jobs created by the managing agency may also help increase local employment opportunities.
Evidence shows that the quality of life of a community is an increasingly important factor in corporate relocation decisions. Greenways are often cited as important contributors to quality of life.
The conservation of rivers, trails, and greenways can help local governments and other public agencies reduce costs resulting from flooding and other natural hazards.