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• 1. [Article] The Effect of Oyster Farm on the Neighboring Housing Value in Rhode Island

  From 2000 onwards, the United States saw an increasing trend for the shellfish aquaculture practices especially along the Northeast coast. Despite the supporting majority of public regarding the shellfish ...

  Citation × Citation Citation Abstract Copy Title: The Effect of Oyster Farm on the Neighboring Housing Value in Rhode Island Author: Uchida, Hiro, Sudhakaran, Pratheesh O., Opaluch, Jim, Puggioni, Gavino From 2000 onwards, the United States saw an increasing trend for the shellfish aquaculture practices especially along the Northeast coast. Despite the supporting majority of public regarding the shellfish aquaculture operations, these operations are sometimes opposed by local communities claiming the devaluation of housing property due to the construction of oyster farm. Since the uproars against the devaluing of housing property is directly affecting the lives of public, it is critically important to study the effect of construction of oyster farm on its value. A difference-in-difference (DoD) model within hedonic price model (HPM) was used to evaluate the effect of oyster farm on property value. We collected the details of the oyster farms operated in Rhode Island from the Coastal Resource Management Council (CRMC). Our housing sales data lists all the housing transactions in Rhode Island between 2000 and 2013. We used a linear mixed model with lot size as unit level fixed effect and city as random effect. The result showed that the DoD coefficient associated with interaction of distance bands and the construction of oyster farm, was statistically insignificant. The statistical insignificance of the coefficients suggests that there is not much change in housing value due to the construction of oyster farm. The analysis shows that houses further away from coastline will reduce the value of the property. One of the caveats of this study is lesser housing transactions since the construction of oyster farm happened in recent years. Title: The Effect of Oyster Farm on the Neighboring Housing Value in Rhode Island Author: Uchida, Hiro, Sudhakaran, Pratheesh O., Opaluch, Jim, Puggioni, Gavino From 2000 onwards, the United States saw an increasing trend for the shellfish aquaculture practices especially along the Northeast coast. Despite the supporting majority of public regarding the shellfish aquaculture operations, these operations are sometimes opposed by local communities claiming the devaluation of housing property due to the construction of oyster farm. Since the uproars against the devaluing of housing property is directly affecting the lives of public, it is critically important to study the effect of construction of oyster farm on its value. A difference-in-difference (DoD) model within hedonic price model (HPM) was used to evaluate the effect of oyster farm on property value. We collected the details of the oyster farms operated in Rhode Island from the Coastal Resource Management Council (CRMC). Our housing sales data lists all the housing transactions in Rhode Island between 2000 and 2013. We used a linear mixed model with lot size as unit level fixed effect and city as random effect. The result showed that the DoD coefficient associated with interaction of distance bands and the construction of oyster farm, was statistically insignificant. The statistical insignificance of the coefficients suggests that there is not much change in housing value due to the construction of oyster farm. The analysis shows that houses further away from coastline will reduce the value of the property. One of the caveats of this study is lesser housing transactions since the construction of oyster farm happened in recent years. Close

• 2. [Article] Alaska Mariculture Initiative–Why not Alaska? Six Economic Case Studies of Successful Mariculture Industries and Their Potential Relationship to a Statewide Strategic Plan to Develop Alaska’s Industry

  The potential economic impact of a fully developed mariculture industry in Alaska is not well understood by industry or policy makers. It is also not entirely clear what is needed to move from Alaska’s ...

  Citation × Citation Citation Abstract Copy Title: Alaska Mariculture Initiative–Why not Alaska? Six Economic Case Studies of Successful Mariculture Industries and Their Potential Relationship to a Statewide Strategic Plan to Develop Alaska’s Industry Author: Decker, Julie, Wellman, Katherine The potential economic impact of a fully developed mariculture industry in Alaska is not well understood by industry or policy makers. It is also not entirely clear what is needed to move from Alaska’s current micro industry (approximately $500,000 in annual sales) to a fully developed industry. In general, the existing seafood industry (harvesters and processors) does not consider itself to be potential beneficiaries of mariculture development. Since the Aquatic Farm Act was passed in 1988, allowing for aquatic farming of shellfish and marine plants in Alaska, the stakeholders and agencies have not been acting in coordination to expedite the development of the industry, pointing to the necessity for a statewide strategic plan. The Alaska Fisheries Development Foundation (AFDF) is spearheading the Alaska Mariculture Initiative (Initiative), which will develop a clear and comprehensive statewide strategic plan. An important part of the Initiative is an economic analysis to inform the decisions to be made in the creation of the strategic plan. Phase I of the economic analysis will be six comparative case studies which outline examples of successful mariculture industries in different regions of the world with similar or relevant environmental and/or economic conditions to Alaska, including native species and potential stakeholders. The results of these case studies will be presented as well as their potential relationship to Alaska’s statewide strategic plan. Title: Alaska Mariculture Initiative–Why not Alaska? Six Economic Case Studies of Successful Mariculture Industries and Their Potential Relationship to a Statewide Strategic Plan to Develop Alaska’s Industry Author: Decker, Julie, Wellman, Katherine The potential economic impact of a fully developed mariculture industry in Alaska is not well understood by industry or policy makers. It is also not entirely clear what is needed to move from Alaska’s current micro industry (approximately $500,000 in annual sales) to a fully developed industry. In general, the existing seafood industry (harvesters and processors) does not consider itself to be potential beneficiaries of mariculture development. Since the Aquatic Farm Act was passed in 1988, allowing for aquatic farming of shellfish and marine plants in Alaska, the stakeholders and agencies have not been acting in coordination to expedite the development of the industry, pointing to the necessity for a statewide strategic plan. The Alaska Fisheries Development Foundation (AFDF) is spearheading the Alaska Mariculture Initiative (Initiative), which will develop a clear and comprehensive statewide strategic plan. An important part of the Initiative is an economic analysis to inform the decisions to be made in the creation of the strategic plan. Phase I of the economic analysis will be six comparative case studies which outline examples of successful mariculture industries in different regions of the world with similar or relevant environmental and/or economic conditions to Alaska, including native species and potential stakeholders. The results of these case studies will be presented as well as their potential relationship to Alaska’s statewide strategic plan. Close