The average tree in metropolitan area survives only about 8 years!
Economic Benefits of Trees
Trees provide numerous economic benefits. Trees can increase the economic revenue for retail shops, prevent unnecessary costs of road maintenance, and increase property values. Explore the following resources, which explain how trees can aid the economy.
- Community Image: Setting Roadside and Public Perception
- Consumers perceive retailers who incorporate trees and greenspace into their property layout as contributors to the overall well-being of the community in which they set up shop, and are even willing to pay higher prices for goods in the ‘greener’ business district.
- The Benefits of Urban Trees
- High tree density and landscaping along routes leading to retail outlets has been shown to influence the likelihood that potential consumers will stop and shop.
- Business District Streetscapes, Trees, and Consumer Response
- Shoppers carry their favorable perceptions of tree-lined storefronts with them as they shop in-store, believing that the products for sale there are of high quality and good value.
- Northeast Community Tree Guide: Benefits, Cost, and Strategic Planting
- Property values and sales prices increase an average of 3-7% for residences with ‘ample’ trees, especially mature specimens. Higher property sales prices can boost city property tax revenues.
- The Urban Forest
- Visitors to business districts with trees are willing to travel further distances and pay more in parking fees to take advantage of the welcoming atmosphere, which creates both a pleasant socializing and purchasing experience.”
- Effects of Street Tree Shade On Asphalt Concrete Pavement Performance
- Paved sidewalks, streets and parking lots shaded by trees stay cooler and therefore more resistant to cracking and rutting; costly repaving work can be delayed anywhere from 10-25 years in certain instances by providing shade trees.
- How Trees Can Retain Stormwater Runoff
- Trees intercept considerable amounts of rainwater, up to 100 gallons each, dramatically easing the burden of runoff on aging stormwater drains and sewage systems. Incorporating trees into water management plans can mean scaling back on the huge expenses of storm drain system repair and replacement.
- The Detriments of Neighborhood Transformations in Philadelphia Identification and Analysis: The New Kensington Pilot Study
- Landscaping and planting trees in neglected urban lots can result in surrounding property values increasing upwards of 40%.
- Money Growing on Trees
- New software systems developed by the US Forest Service can break down the economic benefits of individual trees in an urban forest; using the software program ‘i-Tree’, it has been determined that each tree in New York city provides $9.02 annually in air pollution reduction, $1.29 in carbon sequestration and $61 in storm-water abatement.
- How Trees Can Boost a Home's Sale Price
- Residental properties with ‘street trees’, located between the sidewalk and the street, sell at a premium, and sell faster than properties devoid of prominent trees. Neighboring property values of residences adjacent to trees escalate as well, even if there are no trees on the actual property in question.