A study from the Everglades Foundation revealed that the construction of a new reservoir off of Lake Okeechobee in Florida could create more than 39,000 jobs, WGCU reported.
The study was conducted by researchers at Clemson University for the Everglades Foundation. Many of the estimated job gains would occur during construction of the project.
In addition to the the job growth, the reservoir is also anticipated to raise real estate values for the surrounding properties by decreasing the amount “toxic blue-green algae blooms” that appear on the water, the source explained.
“The increase in the real estate value because the water is cleaner has the spillover effect of inducing… new real estate construction,” said lead investigator for the study Michael Maloney. “Real estate value increases are what’s going to drive economic growth.”
However, a different study recently released by James Madison Institute asserted that the reservoir would actually cause the loss of 4,100 jobs, WGCU reported. Maloney of Clemson University said that his team of researchers is developing a second study to estimate job losses.
According to Clemson University, a 360,000-acre foot reservoir would affect property values in nearby counties by $18.5 billion, myPalmBeachPost reported. Maloney stated that the project would cost $2.47 billion to construct.