Estimating the Economic Benefits of Regional Ocean Observing Systems

This article introduces a theme issue of the Coastal Management Journal comprising a set of articles on the potential economic benefits from new investments in coastal ocean observing systems. We describe a methodology to estimate these benefits, and apply this methodology to generate preliminary estimates of such benefits. The approach focuses on coastal ocean observing information within ten geographic regions encompassing all coastal waters of the United States, and within a wide range of industrial and recreational activities including recreational fishing and boating, beach recreation, maritime transportation, search and rescue operations, spill response, marine hazards prediction, offshore energy, power generation, and commercial fishing. Our findings suggest that annual benefits to users are likely to run in the multiple $100s of millions of dollars. The project results should be considered first-order estimates that are subject to considerable refinement as the parameters of regional observing systems are better defined, and as our understanding of user sectors improves.