How Much Value Does the City of Philadelphia Receive from its Park and Recreation System?
Philadelphia's parks and programs provide direct income to the city’s treasury, bolster the collective wealth of Philadelphians, provide direct savings to residents, and provide environmental savings.
Harnik, Peter. (2008). How Much Value Does the City of Philadelphia Receive from its Park and Recreation System? Philadelphia, Pennsylvania: The Trust for Public Land and Philadelphia Parks Alliance.
This report documents the economic value of the parks and park programs of Philadelphia.
Based on a two-day colloquium of park experts and economists held in October, 2003, the Center describes seven attributes of Philadelphia’s park system and an estimate of the specific economic value each attribute provides. The attributes are: Removal of Air Pollution by Vegetation; Reducing the Cost of Managing Urban Stormwater; Hedonic (property) Value; Direct Use Value; Helping to Promote Human Health; Income from Out-of-Town Park Visitor Spending (Tourists); Stimulating Community Cohesion.
The analysis uses calculators and attachments that can be obtained from The Trust for Public Land, or accessed on-line.
Based on the analysis, in 2007 the park system of Philadelphia provided the city with revenue of $23.3 million, municipal savings of $14.5 million, resident savings of $1.28 billion and a collective increase of resident wealth of $729 million.