Coastal restoration could mean economic boon

The Gulf Coast could add thousands of jobs and boost wetlands restoration using money generated by fines related to the 2010 BP oil spill, say The Walton Family Foundation, Mather Economics and Greater New Orleans Inc. in a joint release. “Those fines could create 29.54 new jobs per million dollars—or as many as 57,697 new jobs across the Gulf Coast region,” The Walton Foundation claims on its website. The predicted jobs could be expected to be generated at a rate of about 1,549 per year and offer a wide range of annual wages: $13,334 to $54,471. Strongest employment growth would likely occur throughout the transportation and utilities industries. At the epicenter of such invigorated Gulf Coast activity would be Louisiana, providing habitat for thousands of species, storm surge protection for residences and businesses, support for recreational and commercial fishing activities, and support for one of the United States’ largest oil and gas operations, as well as attracting billions in tourism dollars. To read the full report, go here.