Home Economic Impact Study – 2016
With more than 100 lakes in Kosciusko County, local water resources are a huge economic driver for the cities of Syracuse, North Webster, Warsaw, and many small, neighboring communities. Many area businesses would not have the customer base or the proper location to make a profit without the presence of local lakes. The lakes provide direct business opportunities for lake-specific businesses such as boat marinas and manufacturers, as well as a summer influx of customers for lake-related businesses such as restaurants and grocery stores.
This study identifies lake impact on lake-specific and lake-related businesses within Kosciusko County as specific indicators of economic impact. Information was collected for 314 businesses throughout the county and accounted for $298,383,000 in revenue that enters Kosciusko County annually as a direct result of the presence of local lakes. When combined with additional property taxes generated due to lake presence, the total identified economic impact of Kosciusko County lakes was $313,383,000 annually.
A positive or negative shift in the water quality of these lakes could enhance or severely harm the businesses that are located around these lakes. Major industries that would suffer dramatic revenue losses as a result of water quality degradation include boat retailers, marinas, restaurants, and construction companies. Many business owners, executives, and managers who contributed to the study stated that they would do much less business or would need to close or relocate their businesses if there were no lakes or poor quality lakes in Kosciusko County. Therefore, the efforts of the Center for Lakes & Streams are vital in the county for future economic development, funding of public services, and personal wealth considerations.