Abstract:
We develop a methodology to estimate the potential economic benefits from new investments in
regional coastal ocean observing systems in US waters, and apply this methodology to generate
preliminary estimates of such benefits. The approach focuses on potential economic benefits
from coastal ocean observing information within ten geographic regions encompassing all coastal
waters of the United States, and within a wide range of industrial and recreational activities
including recreational fishing and boating, beach recreation, maritime transportation, search and
rescue operations, spill response, marine hazards prediction, offshore energy, power generation,
and commercial fishing.
Our findings suggest that annual benefits to users from the deployment of ocean observing
systems are likely to run in the multiple $100s of millions of dollars per year.
The project results should be considered first-order estimates that are subject to considerable
refinement as the parameters of regional observing systems are better defined, and as our
understanding of user sectors improves.
