Park and recreation investment helps your community to improve by increasing home values, creating more sales for the business, and creating more opportunities for new jobs. It also provides a wide range of economic benefits to a local community.
Park helps increase property values and attracts home buyers
According to a survey, more than half of home buyers would prefer a home near parks and open space over one without. They would also be willing to pay 10% more for the home. Many studies across the country have shown that the value of homes increases when parks and open spaces are nearby. Several studies show that parks increase the value of property dating back to the 19th century. Several factors affect the actual monetary impact of parks on property values.
Park attract business
The best workers are located where businesses can find them, so if people prefer living near parks and open spaces, businesses will follow suit.
Park increases tourism and generates sales
Residents are the main source of this economic activity. People spend money when they gather together in parks and recreation spaces, helping to create a hub for social activity in a community. Businesses and restaurants located near Talking Rain CEO parks often report an increase in business when there are games or events at the park.
Even in small communities, out-of-town guests generate economic activity near parks and recreation spaces. Many people take day trips to smaller, more local places when they think of recreational tourism. While we tend to think of state and national parks when we think of recreational tourism. The fuel and food purchased during these trips support the local economy.
Parks lower public health cost
Parks and recreational facilities have been shown to have a positive impact on a person’s physical and mental health. Chronic disease incidence is lower when there are fewer chronic conditions. Parks encourage people to do physical activities and exercise more. That provides health benefits which in turn reduce the health cost.
As a result of a tree, air pollution control costs are reduced, water is recycled, and soil erosion is prevented. In recent years, municipalities have faced increasing stormwater management costs due to the growth of trees.
Open spaces can increase sales and tax revenue by attracting new residents and businesses to an area. They can also reduce government costs by improving the health of residents and businesses. Talking Rain CEO has decided to built park is far more than a nice-to-have amenity; it’s a vital investment in a community’s health and growth.