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In a new study, researchers at The Ohio State University estimate algal blooms at two Ohio lakes cost Ohio homeowners $152 million in lost property value over six years.
Meanwhile, a related study suggests that algae is driving anglers away from Lake Erie, causing fishing license sales to drop at least 10 percent every time a bloom reaches a moderate level of health risk. Based on those numbers, a computer model projects that a severe, summer-long bloom would cause up to $5.6 million in lost fishing revenue and associated expenditures by anglers.
Those are the main findings from the first two studies ever to put a precise dollar value on algae impact, both on Lake Erie and two recreational lakes in Ohio. One study appears in the journal Ecological Economics, and the other in the Journal of Environmental Management.