Abstract
Converting coastal waters to farmed production of seafood may generate conflicts with other resource users. This study explores the impact of marine aquaculture development on coastal homeowners. Using single-family home sales from 2012–2014 and spatial data on coastal aquaculture activity, we employ hedonics to assess the impacts of mariculture development in three study areas of Maine, USA. Our results suggest modest impacts on residential property values with significant spatial variation across study areas. This spatial variation represents a challenge for managers and highlights the potential benefits from coordinating the development of aquaculture to balance resource users' objectives with industry growth.
Highlights
Maine is one of the top marine producers of aquaculture in the United States, with a farm-gate value in excess of $100 million (Maine Aquaculture Association (MAA) 2015)
Management of aquaculture in these coastal waters is divided between two state agencies: the Maine DMR and the Maine Department of Environmental Protection (DEP)
While the Maine DEP is charged with ensuring that marine farms satisfy the discharge standards specified under the Clean Water Act, the Maine DMR is responsible for issuing aquaculture leases (East Coast Environmental Law 2014), and indirectly monitoring the development of marine aquaculture in the state
Summary
Maine is one of the top marine producers of aquaculture in the United States, with a farm-gate value in excess of $100 million (Maine Aquaculture Association (MAA) 2015). With more than 5,000 miles of coastline, marine farms in Maine produce an impressive variety of species, such as salmon, cod, oysters, scallops, and sea vegetables (e.g., dulse and sugar kelp), using leases on only 0.03 percent of the state’s public waters (MAA 2015, Maine Department of Marine Resources (DMR) 2016). Management of aquaculture in these coastal waters is divided between two state agencies: the Maine DMR and the Maine Department of Environmental Protection (DEP). While the Maine DEP is charged with ensuring that marine farms satisfy the discharge standards specified under the Clean Water Act, the Maine DMR is responsible for issuing aquaculture leases (East Coast Environmental Law 2014), and indirectly monitoring the development of marine aquaculture in the state.
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