Economic Impact Analysis of Shawano Lake
Shawano County Economic Progress, Inc. Announces Economic Impact Analysis of Shawano Lake
Peter Thillman, Chief Economic Development Officer, Shawano County Economic Progress, Inc. (SCEPI), has announced the completion of an economic impact analysis of Shawano Lake. Dr. Marianne Johnson, Distinguished Professor of Economics, Department of Economics, College of Business, UW-Oshkosh and the students in the Public Sector Economics class conducted the study.
The Executive Summary of the report states that “Shawano Lake in Northeastern Wisconsin makes significant contributions to local economic vitality. With eight public boat landings, a public beach, fourteen walk-in locations, and more than 250 parking spaces for boat trailers, the lake is easily accessed by Shawano residents and tourists. A local public good, the lake supports a wide variety of outdoor recreational activities, including fishing, boating, and camping.”
According to the Executive Summary, “in 2021, total direct and indirect lake spending contributed more than $29 million to the local economy. The previous year, lake use accounted for 46% of total tourism spending in Shawano County. Direct tourism spending is augmented by second-home owner spending in the community. While the impact of the changing residential patterns around the lake, driven by a significant increase in out-of-state buyers, is difficult to quantify, we estimate these homeowners contribute an additional $3.58 million to the local economy. Further, lake- frontage adds approximately $220,000 to the assessed value of a home – or more than $179 million in additional home value for property owners. This translates into nearly $6 million in additional property tax revenue each year.”
For more information about the Shawano Lake Economic Impact Study or an emailed copy of the study, please contact SCEPI via email at firstname.lastname@example.org.