Iowa Lakes Valuation Project

Storm Lake (incl Little Storm Lake)   

Iowa lakes have great value to the citizens of the state. In the process of using lakes for fishing, boating, swimming and enjoying other outdoor recreation, Iowans also spend money that benefit local economies. During the 2002-2005 period, Storm Lake (incl Little Storm Lake) averaged 167,965 visitors annually. They spend an average $10.14 million annually which in turn supports 202 jobs and $2.71 million of labor income in the region.

Show more information on expenditure impacts associated with water quality improvements at Storm Lake (incl Little Storm Lake).

Table 1: Average Spending
CategorySingle DayMultiple DayAnnual Single DayAnnual Multiple DayTotal
Eating and Drinking$9.45$96.30$1,476,330$1,130,562$2,606,892
Gas and Car Expenses$5.10$29.70$796,750$348,678$1,145,428
Shopping and Entertainment$10.85$36.05$1,695,046$423,227$2,118,273
Table 2: Spending, Labor Income, and Job Effects of Lake Visitations
Eating and drinking$2,606,892$279,58113.9
Gas and Car Expenses$1,145,428$282,90028.2
Shopping and entertainment$2,118,273$137,14910.1
Table 3: Economic Value of Direct and Secondary Recreational Spending
CategoryTotal SalesLabor IncomeValue AddedJobs
Agriculture $103,553$12,666$22,0370.5
Construction $95,381$24,430$28,9590.7
Manufacturing $387,610$56,131$80,6241.5
Trade $5,267,116$604,073$950,01231.2
Prof. Services $966,355$225,170$291,7137.7
Other Services$5,863,004$1,652,553$2,655,164156.7
Government $473,330$18,821$222,4470.3
Storm Lake (incl Little Storm Lake)
Single Day Trips, 2002-05 Average 156,225
Multiple Day Trips, 2002 11,740
Total Trips, 2002 167,965

Each recreation trip or visitation has an associated set of expenditures. The composition of these expenditures for typical trips of single day or multiple days (Table 1) is based on a survey of Storm Lake and Rock Creek Lake during the 2002 season. Applying these averages to the lake visitors in the above table results in the estimated spending figures in Table 2.

This level of spending is linked to other economic activity in the region as the initial expenditures are re-spent on goods and services in the regional economy. These multiplier effects are estimated with an Input-Output model for the region and are summarized in Table 3.