Trees Create Economic Opportunities: Are You Tapping In?

Trees have many intrinsic values, meaning that they have value simply because they exist, not for any external benefits. We appreciate them for their beauty and for what they provide to the natural world. However, our world is largely based on economics, which promotes the monetary value of objects in contrast to their intrinsic value. No matter which way trees are viewed, they will always have a benefit to society and our environment, whether it be intrinsic or economical.

The presence of trees enhances many economic sectors. Businesses with trees surrounding them attract more traffic, tenants are more satisfied with their rental if it has trees, and homes or businesses surrounded by trees or small wooded areas sell quicker and for more money than those that do not have trees. Rental properties that have a high-quality landscape, which includes trees, rent for 7% higher than homes of similar value without landscaping efforts. Studies have even found that homes in neighborhoods with street trees, which create a canopy cover over the road, sell for $7,000 more than homes that do not have street trees. Growing trees in both the backyard of a home and near the street creates not only a beautiful environment for children and residents to enjoy, but it also makes the neighborhood a more desirable place to live.

The benefits trees create for shopping centers benefit the stores’ profits directly. Shoppers will pay approximately 10% more on products and are more likely to frequent shopping centers if they are surrounded by trees. The economic benefits of trees are endless, and extend far beyond directly benefiting businesses’ profits. They remove pollutants from the air, increase health and therefore economic output. They reduce stormwater runoff, increasing the cleanliness of the Chesapeake Bay, reducing costs necessary to remove pollution.

Trees in communities can also be used to incentivize individuals to create small businesses, from selling fruit to increased need for landscaping as trees become more present. A single fruit tree can produce a large quantity of fruit. Having this accessible would be a great opportunity to teach children how to care for the tree, how to harvest fruit, and distribute it throughout the neighborhood.

GHEP wants to see your community benefit from the incorporation of trees. Our Family Tree Adoption Program provides free trees to Prince George’s County residents, as we hope to see an increase in your quality of life and the quality of your community. Visit our Family Tree Adoption Program page to request your free trees today!

Sources:
https://tfsweb.tamu.edu/elibrary-item/economic-benefits-of-trees/