Study quantifies value of cultural, recreational amenities

A report published by the Federal Reserve Bank of Philadelphia suggests that recreational and cultural amenities, such as an attractive waterfront and historical sites, can help cities attract highly educated workers and boost property values.

The report, by economists Gerald Carlino and Albert Saiz, argues that the success in the 1990s of cities such as Seattle and Austin, Texas, which became centers for technological innovation, was based in part on their amenities. Highly skilled workers were attracted to such communities because they were appealing places for spending leisure time, according to Carlino and Saiz.

The report, titled “City Beautiful,” also studied the extent to which investments by local governments in parks, cultural institutions, sports facilities, and other amenities makes cities more attractive to tourists. By becoming more attractive to tourists, the authors suggest, such cities also become more attractive places to live.

A workshop during the MMA Annual Meeting in January, “Promoting Recreational Amenities to Grow Your Economy,” examined a number of ways that recreational opportunities or cultural institutions benefit Massachusetts communities.

Workshop panelists included Michael Ouellette, a selectman in Adams, where the town recently created a bike path and a “Discover the Berkshires” visitors center. The town also has been designated the provisional developer for the $44 million Greylock Glen Outdoor Recreation and Environmental Education Center, adjacent to Mount Greylock State Reservation.

Also cited at the workshop was a survey, sponsored by the Boston Foundation and the Greater Boston Chamber of Commerce, showing that recent college graduates rate the availability of outdoor activities second only to job availability when deciding whether to stay in Massachusetts or leave.

The 61-page “City Beautiful” report can be downloaded at www.philadelphiafed.org, under Research & Data.