From the Outer Banks Sentinel, here is a report on a study that I worked on (Oregon Inlet Impact Study Shows Value):
The results in-depth study on the value of Oregon Inlet to Dare County's economy was presented at the Dare County Board of Commissioners meeting last Monday.
"The study reveals that the effect of losing Oregon Inlet as a navigable waterway for commercial and private boaters could be devastating," states a release from the Dare County public relations office. "The overall losses for Dare County could reach an estimated $682 million in revenue and directly or indirectly affect over 9800 jobs."
Last year, only $7.1 million was budgeted for limited dredging of Oregon Inlet. It is estimated that $10 million will be needed to keep the inlet passable. While the upcoming federal budget is being negotiated, the Senate version includes $10 million for dredging but the House version includes no funding for the project.
Oregon Inlet separates Bodie Island from Hatteras Island in the Cape Hatteras National Seashore in North Carolina [map]. It is the primary gateway to the Atlantic Ocean for a significant portion of the NC commercial fishing fleet and recreational boaters.
The rest of the article details the individual categories of impacts. My part of the study didn't make it into the news article (I'm sobbing as I write this). It was a standard travel cost analysis of recreational fishing. A simulation shows that the lost economic value due to the closing of Oregon Inlet are about even with the $10 million cost of dredging. Add in the commercial fishing benefits and dredging is a good (i.e., efficient) policy.
But since ...
The study will be used by elected officials when they travel to Washington, DC to meet with representatives in an attempt to secure funds for the dredging of Oregon Inlet.
... efficiency isn't enough justification ...
The recreational fishing and tourism industry experiences a total economic benefit of 8,288 jobs and $502.3 million in revenue to Dare County and the surrounding region.
