MOD0003325 Economic Impact of Urban Parks: Jobs, Costs, and Business Attraction Assignment Sample

MOD0003325 Economic Impact of Urban Parks: Jobs, Costs, and Business Attraction

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Introduction: Economic Impact of Urban Parks

Urban Park is an open space that is mostly used for public recreation activities and generally have green vegetation and beside a park, the urban green vegetation also includes the square planting street trees, woodlands, private parks. Hence Urban park can be defined as an open space mostly covered by water and vegetation and is usually are for use by the public. The urban park's size is generally larger however there are also smaller parks such as pocket parks (Talal and Santelmann, 2020). The urban parks are also called 'parks' by the local. The urban park plays a large role in improving the health and wellbeing of the population of the area is one of the many benefits that the park offers. For example, reduced anxiety and reduced depression are the immediate benefits that a green space offer. Although parks provide a huge range of benefits, it has few drawbacks as well. One of the constraints the park has to deal with the budget limitations as the Local authority is only a source for funding of parks and hence there is a limitation in the investment for the development of the parks. Also, undervaluation of the importance of park is another challenge. For example, the park helps in regulation of the climate change and temperature however, there is no attention on this aspect by the authorities (Shu and Ma, 2020).

The main aim of this report is to analyze the economic impact of the urban park which mainly focuses on the creation of a job, the cost to the taxpayer of building the park and lastly, the attraction of new business in the urban park area. After analyzing, there is also recommendation provided related to the maximization of the benefits and minimization of the challenged faced by the authorities in building the urban park based on the analysis on the economic impact of the park.

Analysis of Economic Perspective

Besides providing a green environment and a healthier air quality and an open space for other recreational activity, urban parks play an important role in providing a quality life by helping the development of the economy (Neckel et al., 2020). The development of the economy is based on different factors such as the creation of job opportunities in the area where the park is located, the cost of taxpayers of building the parks and attracting new business to the area. Therefore, by considering these factors which have an impact economically, an analysis has been done with the help of different research papers by different researchers.

Job Creation

One of the important benefits that the urban park offer is that the construction of any new urban park, attracts the new business as any new business location depends on where they find a skilled worker and if those skilled workers are majorly near the open area or park, the business will certainly choose the parking area as their go-to location. Besides, attracting business like a restaurant, bookstores etc. near the park, there are several opportunities for the job within the Park authorities for better service and with better cost (Le et al., 2020). The construction of a park creates both short term and long-term job opportunities.

Short term jobs- The Urban Park helps in the creation of short-term job prospects for the maintenance of the park and its surroundings therefore creating a source of income for the short-term employees. These employees include:

• The contractors or vendors that work for the maintenance of the park
• The Gardeners
• The daily wage labour.

Long term jobs - Long term job refers to employment that is for a longer period and is directly associated with the internal functions of the Urban Park such as facility management, Security etc. These long-term job employees are directly reporting to the authority of the park and work on a salary basis which is the main source of income of these employees (Xiao et al., 2017).

• Facility Manager within the park
• Security Guards 
• Activity coaches

Besides these internal job creations, few jobs are available outside the premises of the Urban park such as Employees of the nearby restaurants, vendors of small food stalls etc.

Hence, with the construction of the Urban Park, several job opportunities are created which help in developing the economy of the area and ultimately the economy of the country (Ellis and Schwartz, 2021).

Cost To The Taxpayer Of Building The Park

The cost of building of urban park refers to the total expenses incurred when building an urban park. It is nothing but the funds that are used from the tax of the local taxpayers by the municipal authorities. The per capita cost differs in different projects for building urban Parks. It is mainly based on the design quality, the number of amenities available in the urban park, and the infrastructure requirement. Below is a few cost that is incurred while building urban parks (Crompton, 2020).

• As per Dube, 2020, The maintenance cost and the operation cost also differ with the kind of amenities that is being offered after the building of the Urban Park. The variance in the cost of construction of the park depends on the park designs.
• The cost of land is another factor that is considered while building a Park. Since the park requires a large area of land, the property tax associated with the purchase of land is another major cost while building a Park.
• The cost of building an urban park also includes the cost incurred on the employees or the contractors hired for construction.
• There are opportunities cost that rise when there is a loss of property that a community must have got if the property must have used project other than building Urban parks.
• Landscaping cost is another cost that is incurred when there is a loss of property as there is remodelling or restructures of the land when there is any loss of property.

Since there are many costs involved while building urban parks, it is important to identify the source of funds. There are various sources of funding while building or establishing an urban park so that the above cost incurred can be well managed. Most urban parks are funded by the Government such as local municipal authorities, the fees that the parks receive from the local public such as entry fees and user fees, non-profit organizations, private donations, investment from the investors and the revenue collected from the tax paid to Governments (Guo et al., 2019).

The Attraction Of New Business To The Area

As stated above, with the construction of the new park, several job opportunities arise which is mainly due to the new business that is being developed with the development of the park. Hence, the urban park plays a significant role in the economy locally as the location of the park impact local businesses and attract new business to the area. Most business attraction to the nearby urban park is due to the quality of life and due to attractiveness of the place. Along with achieving the business goals, the decision to relocate to the location nearby the urban park is mainly because of the cultural aspects and recreational aspects (Sacchini et al., 2018).

Below are the businesses that are attracted when a new park is constructed;

• Real state business as people prefers to locate and purchase houses near a greener environment. This has helped the real estate to establish a business where the Urban parks are located.
• There is a growth of hotel industry in an area where the urban park is situated and restaurants chains are also located as the park attract a variety of population to discover the area.
• Since children are the direct consumers of the Urban Park, there is the attraction of different games equipment's merchandise near the urban park so that they can get the maximum benefits by selling the products (Plunkett et al., 2019).
• Park helps in on-site business activities such as sports tournaments, concerts and other events
• Since high quality and greener spaces attract workers and therefore it attracts the company hiring those workers which enable attraction of the investments by any industry of the given region.
• Since the quality of life is the ultimate go-to choose of any technological industry while deciding on the location of its headquarters. Hence, urban parks also attract technological industries to the area.
• There are several small, a medium organization including family-based business who are more eager to locate in the area where their values and culture are reflected.
• Another reason for business attraction near the urban park is that many companies want their work to work in an attractive and greener location (Rigolon, 2018).
• There are facilities stores for recreational activities near the park.
• The attraction of booksellers near the park is another major business attraction near the park.
• The attraction of the amusement groups near the park for the amusement of the children.

Hence, with the construction of the urban parks, there is an attraction of the new business to the area which help people in getting a source of income and eventually contributing to the economy and fulfilling the need for quality of life without comprising the work-life (Encalada et al., 2017).

Conclusion

To conclude, Parks contribute to the local economy in many ways. This paper defines the meaning of Urban Park and the ways by which construction of the Urban park creates job opportunities and spending opportunities among the people. Thus, this report demonstrates several ways to make a contribution to the development of the economy by the engaging company directly to provide job prospects to skilled workers. It also explains the long term and short-term job opportunities that Urban park provides. This study also focuses on determining the per capita cost that is incurred while constructing the park and how the location of the park attract new businesses and also the impact that it has on the development of society ultimately leading to economic development.

Recommendations

Urban Park plays an important role in improving the economy of the area. Hence, to improve the quality of service and qualities of other amenities, few of the major recommendation is given below for further enhancement of the urban parks. These recommendations are based on the above three perspectives of the economic importance such as recommendation related to job creation, the cost to taxpayers, and attracting new business to the nearby areas (Engbers et al., 2018). The same has been discussed below precisely.

• The recommendation concerning the creation of Jobs

There should be more Urban parks developed in different regions so that the job creation and employment rate increase and establishment of other few departments within urban parks and outside the Urban Park area, for example, the Park council should give more attention to attracting various industries to locate near the Park so that the employment opportunities can be maximized (Gu and Gao, 2018).

• The recommendation concerning cost to the taxpayer in building the park.

Since there is a lot of costs associated with the construction of the Urban Park such as operating cost, maintenance cost, cost on infrastructure and amenities, there must be an effort on the part of the council to carry out a proper cost analysis and budget forecast before constructing the urban Park so that there is no unnecessary cost that can incur in the project can be minimized (G?siorek et al., 2017).

• The recommendation concerning the attraction of new business to the area

To attract new business to the area the Urban Park council must frame a simplified policy and procedure so that the new business can enter the new environment. The Council should also focus on the minimization of any pollution caused by any industry located near the park with strict rules and regulations so that there is no degradation of the greener space (Kim et al., 2019). It is the council responsibility to keep a check on the regulation of policy and rules set by the company to have a smooth operation and thereby increasing the chance of profit maximization which can be beneficial for the company, employee and economy as a whole.

Reference

Crompton, J.L., 2020. Using proximate real estate to fund England's nineteenth-century pioneering urban parks: viable vehicle or mendacious myth?. Studies in the History of Gardens & Designed Landscapes, 40(1), pp.43-64.

Dube, K. and Nhamo, G., 2020. Evidence and impact of climate change on South African national parks. Potential implications for tourism in the Kruger National Park. Environmental Development, 33, p.100485.

Ellis, D. and Schwatrz, R., 2021. [online] Worldurbanparks.org. Available at: <https://worldurbanparks.org/images/Documents/The-Roles-of-an-Urban-Parks-System.pdf> [Accessed 17 March 2021].

Encalada, L., Boavida-Portugal, I., Cardoso Ferreira, C. and Rocha, J., 2017. Identifying tourist places of interest based on digital imprints: Towards a sustainable smart city. Sustainability, 9(12), p.2317.

Engbers, T.A. and Rubin, B.M., 2018. Theory to practice: Policy recommendations for fostering economic development through social capital. Public Administration Review, 78(4), pp.567-578.

G?siorek, M., Kowalska, J., Mazurek, R. and Paj?k, M., 2017. Comprehensive assessment of heavy metal pollution in the topsoil of a historical urban park on an example of the Planty Park in Krakow (Poland). Chemosphere, 179, pp.148-158.

Gu, Y.G. and Gao, Y.P., 2018. Bioaccessibilities and health implications of heavy metals in exposed-lawn soils from 28 urban parks in the megacity Guangzhou inferred from an in vitro physiologically-based extraction test. Ecotoxicology and environmental safety, 148, pp.747-753.

Guo, S., Yang, G., Pei, T., Ma, T., Song, C., Shu, H., Du, Y. and Zhou, C., 2019. Analysis of factors affecting urban park service area in Beijing: Perspectives from multi-source geographic data. Landscape and urban planning, 181, pp.103-117.

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Le, T., Pham, V., Cu, T., Pham, M. and Dao, Q., 2020. The effect of industrial park development on people's lives. Management Science Letters, 10(7), pp.1487-1496.

Neckel, A., Da Silva, J.L., Saraiva, P.P., Kujawa, H.A., Araldi, J. and Paladini, E.P., 2020. Estimation of the economic value of urban parks in Brazil, the case of the City of Passo Fundo. Journal of Cleaner Production, p.121369.

Plunkett, D., Fulthorp, K. and Paris, C.M., 2019. Examining the relationship between place attachment and behavioural loyalty in an urban park setting. Journal of Outdoor Recreation and Tourism, 25, pp.36-44.

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Sacchini, A., Imbrogio Ponaro, M., Paliaga, G., Piana, P., Faccini, F. and Coratza, P., 2018. Geological landscape and stone heritage of the Genoa Walls Urban Park and surrounding area (Italy). Journal of Maps, 14(2), pp.528-541.

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