Economics and Water in Delaware and the Delaware Valley University of Delaware Water Resources Agency Institute for Public Administration

Water 97-3-1 Essential for Life Most Precious Chemical (H20) No Economic Substitute Universal Solvent Exists in Nature as 3 States of Matter

80%

Delaware 1st State to sign the Constitution 1 Congressman 3 electoral votes 2nd smallest state 3 counties One of 3 states on a peninsula Lowest state in the U.S. 500-yr floodplain covers 2/5 of State Wetlands cover 1/3 of State

Delaware 4 basins and 46 watersheds 897,934 people (US Census 2010) (1,000 people/sq. mi.) Landuse (2007)

Best Run States (24/7 Wall St.) North Dakota 3.5% unemployment Wyoming Energy is 30% of GDP Nebraska 4.4% unemployment Utah AAA Bond Rating Iowa 5.9% unemployment Alaska Budget Deficit = 0 South Dakota 7.6% tax burden Vermont 5.6% unemployment Virginia $62,000 HH income Minnesota 92% w. HS diploma Delaware AAA Bond Rating

GDP per Capita by State Rank State GDP ($ million) Pop. (million) GDP/ 1 Delaware 62,700 0.9 69,667 2 Alaska 45,600 0.7 65,143 3 Connecticut 233,400 3.6 64,833 4 Wyoming 38,200 0.6 63,667 5 Massachusetts 377,700 6.5 58,108 6 New York 1,156,500 19.4 57,423 7 New Jersey 497,000 8.8 56,477

GDP Per Capita by Country Luxembourg $89,992 Quatar $88,919 Macau $77,607 Delaware $69,667 Norway $61,882 Singapore $61,103 Kuwait $54,654

Public Water Use Per Capita State Supply Pop. Millions gpcd 1. VT 59 0.6 100 2. ME 130 1.3 3. ND 76 0.7 109 4. NH 141 5. WI 639 5.7 112 6. NC 1,082 9.5 114 7. DE 102 0.9 8. RI 126 1.1 115 9. MN 614 5.3 116 10. WV 222 1.9 117 11. NJ 1,037 8.8 118

Delaware, an Economic Engine… Watersheds contribute $2 billion - $6.7 billion annually to the State’s economy.

Over $6 billion in Economic Activity Largest contributors: Ports - $3.3 billion Recreation - $2.4 billion Forest and Agriculture: Over $1.1 billion Fish/Wildlife, Public Parks, Water Quality and Water Supply: $344 million – $591 million Flood Control: $73 million

Delaware Watersheds Economic Value

$6.7 billion of Ecosystem Goods and Services (per year) Net present value (NPV) - $216.6 billion Freshwater wetlands – $2.4 billion Marine - $1.2 billion Farmland – $1.7 billion

Delaware Watersheds Ecosystem Goods and Services

Delaware Ecosystem Goods and Services by Basin

Over 70,000 jobs and $2 billion in wages (per year) Tourism – 31,050 jobs ($931 million in wages) Farm – 28,328 jobs ($1.4 billion in wages) Coastal – 15,174 jobs ($268 million in wages)

Delaware watersheds provide: Over $6 billion in annual economic activity from water quality, flood control, water supply, fishing and wildlife viewing, recreation, agriculture, ports, forests, and parks. Ecosystem goods and services of $6.7 billion per year (2010 dollars), net present value (NPV) $216.6 billion. Over 70,000 jobs with over $2 billion in wages.

The DRBC was formed by JFK in 1961. DRBC is led by 4 Governors and U.S. Army Corps of Engineers who are Commissioners. The Delaware Basin is governed by 20 Federal agencies, 8 U.S. Senators, 20 Congressmen, 4 states, 24 counties, and over 500 municipalities The Delaware Basin supplies drinking water to 16 million people

America’s Founding Fish

What do these enterprises have in common? Starbucks Del. Water Gap NRA Philadelphia Eagles New York Yankees Yards Creek Hydro United States Navy Guggenheim Museum Boeing Camelback Ski Area Campbell’s Soup DuPont Wawa Keystone Brewpub Crayola Crayons

Consumer surplus is the difference between the amount that consumers actually pay and the amount that they would have been willing to pay. Consumer Surplus Supply Price ($/1000 gal) Demand Quantity (gal)

The Delaware River Basin in Del. , NJ, NY, and Pa. contributes: 1 The Delaware River Basin in Del., NJ, NY, and Pa. contributes: 1. $25 billion in annual economic value from recreation, water quality, water supply, ecotourism, forest, agriculture, open space, and port benefits. 2. Ecosystem goods and services worth $21 billion per year, net present value (NPV) = $683 billion. 3. Over 600,000 jobs with $10 billion in wages.

US Budget FY12 Federal Budget = $3,830 billion EPA Budget < $10 billion US Pop. = 309 million US Budget per capita = $12,000 EPA Budget per capita = $32 EPA Budget = 0.3% US budget

$2.8B $403M $4.8B $917M

Questions?