Iowa Lakes Valuation Project

Lake Geode   

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, Lake Geode averaged 99,702 visitors annually. They spend an average $7.35 million annually which in turn supports 146 jobs and $1.97 million of labor income in the region.

Back to Economic Value of Direct and Secondary Recreational Spending for Lake Geode.

Scenario: Reducing Total Nitrogen, Total Phosphorous, and Suspended Solids by 50 percent.

Category Base Scenario
Single Day Visitors 87,373 214,866
Multiple Day Visitors 12,329 30,319
Sales $10,016,972 $24,633,494
Income $1,966,326 $4,835,541
Jobs 146 359
Lake Geode
Single Day Trips, 2002-05 Average 87,373
Multiple Day Trips, 2002 12,329
Total Trips, 2002 99,702

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.