Title: Choctawhatchee Bay Estuary, Economic Impact & Valuation Analyis

Deadline: 10/18/2022 3:00 PM   (UTC-06:00) Central Time (US & Canada)

Status: Awarded

Solicitation Number: ITQ TDD 02-23

Description: The Choctawhatchee Bay Estuary Program seeks professional services for the development of an economic valuation to define and quantify the economic and ecosystem service values of the Choctawhatchee Bay. The established market region for the study will include Holmes, Washington, Okaloosa, and Walton Counties. These counties are within the Choctawhatchee Bay watershed and are party to an interlocal agreement which established the Choctawhatchee Bay Estuary Coalition.
Advanced, computer-based economic models and techniques will be utilized for conducting the analysis. The proposed project will complement the development of a Comprehensive Conservation and Management Plan for the Choctawhatchee Bay Estuary, currently underway through the Choctawhatchee Bay Estuary Program. Procurement for this project will conform to Title 2, Code of Federal Regulations Part 200, and to the provisions of the Okaloosa County Purchasing Manual.
The project will identify and describe the economy within the market region, and highlight the direct drivers or pathways linking the Choctawhatchee Bay and the regional economy. Additionally, this project will provide analysis of the potential contributions of the Choctawhatchee Bay Estuary Program to the market region, including theoretical return on investment by the organization, as well as an economic valuation of the ecosystem services attributable to and supported by the Choctawhatchee Bay and surrounding habitats. A quantifiable understanding of the correlation between the value of the Bay and the role of the Choctawhatchee Bay Estuary Program in providing stewardship for the natural resources is pivotal to inform the policy decisions of the Estuary Program.
Outcomes of the economic valuation project will illustrate the correlation between a healthy Choctawhatchee Bay Estuary and a vibrant regional economy. The focus for the project is on determining the direct, indirect, and induced economic values attributable to the Choctawhatchee Bay. Quantifying these values will serve to emphasize the region’s reliance on the Choctawhatchee Bay, and the importance of financial investment in stewardship efforts, to be achieved through a sustainable Choctawhatchee Bay Estuary Program and implementation of the Comprehensive Conservation and Management Plan recommendations.

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