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Park Investment and Economic Vitality
How growing cities across the U.S. are investing in parks and open spaces to attract workers, businesses, and economic development opportunities.
Published September 19, 2024
This study shows that civic and business leaders are increasingly prioritizing investment in green spaces to bolster economic vitality. City leaders are seeking opportunities to grow their tax base and retain and attract more businesses and residents. In the post-pandemic era when employers offer geographic mobility, it is more important than ever that cities invest in place, specifically parks and open spaces, to attract and retain a diverse workforce.
Parks are powerful engines for economic development. Local public park and recreation agencies in the United States generate more than $201 billion in economic activity and support almost 1.1 million jobs that boosted labor income by more than $63 billion from their operations and capital spending in 2021.1 Parks contribute to population growth and economic vitality by boosting quality of life and making cities more attractive places to live and work. Investing in parks to close gaps toward equitable access to parks is vital to a city’s attractiveness among peer cities competing for residents and businesses.
Trust for Public Land (TPL), as part of the organization’s focus on advancing park equity to ensure healthy, livable communities, engaged HR&A Advisors to research how community investment in parks, open spaces, and associated quality-of-life benefits contribute toward achieving economic development goals in cities in the U.S. This report dives into five case study cities—Atlanta, Georgia; Boise, Idaho; Boston, Massachusetts; Minneapolis, Minnesota; and Plano, Texas—to show how cities can leverage investments in parks to catalyze economic growth, drive greater economic mobility, and create wealth-building opportunities for communities.
The five case study cities studied in this report were selected based on their park investment and economic vitality indicators that exceed other cities. TPL and HR&A Advisors sought diversity in location, size, and economic drivers among the five case study cities. Researchers conducted interviews with a range of businesses and civic leaders in each selected city to better understand the motives and relationships driving these positive trends in park investment and economic vitality. The study showcases a strong correlation between park investment and economic vitality, recognizing a range of attributes contribute to a city’s economic health.
