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Economic Development <br />One thing is clear: the conventional market -based tools we <br />use to value goods like corn, timber and houses don't translate <br />well to public goods like clean air, bird -watching or beautiful <br />views. Special methods are needed that look beyond markets to <br />estimate the true value of these goods and services to society, <br />and new types of institutions are required to manage natural <br />capital resources. (UMN source) <br />Economic Growth and Value <br />Beyond the impact of their expenditures, park and recreation <br />agencies generate even more economic value through their <br />promotion of health and wellness, as well as conservation <br />and resiliency that foster higher property values and increase <br />tourism. Most critically, park and recreation amenities are the <br />cornerstones to improving a region's quality of life, a major <br />factor in enticing employers and workers to an area. The <br />powerful impact parks and recreation has on economic activity, <br />when combined with the ability to deliver healthier and <br />happier communities, highlights the fact that these offerings <br />are not merely a "nice -to -have," luxury government service. <br />Rather, parks and recreation is a critical aspect of what makes <br />a city, town or county a vibrant and prosperous community. <br />(source) <br />Municipalities with strong parks and recreation systems benefit <br />from improved health and a greater sense of community. This <br />all may lead to lower healthcare costs, higher property values, <br />and increased standard of living. Research shows that areas with <br />a high quality of life attract businesses, as this also attracts and <br />retains high quality workers (Local Government..., 2017). <br />On a broader scale, in 2013, operations and capital spending <br />pertaining to parks and recreation created $2,834,173,626 in <br />economic activity, and supported 22,411 jobs in Minnesota <br />(The Economic Impact..., 2015). Nationally, parks and recreation <br />created nearly $140 billion in economic impact, added $68 <br />billion in GDP, and one million jobs. The National Association <br />of Home Builders reports that the presence of parks seriously <br />influences 65% of home -buyers. A 2001 study conducted by <br />the National Association of Realtors found that 50% of survey <br />respondents would be more likely to choose a neighborhood <br />near parks or open spaces, and are willing to pay more to live <br />near a park. <br />PARK SYSTEM PLAN <br />