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I Economic Impacts of the Paul Bunyan State Trail 2 Among the many reasons for building the Paul Bunyan State Trail, including the preservation of the environment, 3 promoting physical exercise and a venue for safe,family activity, are economic benefits that increased visitation to 4 Pequot Lakes brings. Benefits related to business activity are seen in two ways: 5 Through direct increase in business activity from direct purchases by trail users; and, 6 Indirectly by providing services and products to an increasing number of businesses that have sprung up to sustain 7 the operations of the trail and demands of its users. 8 "Overall,trail users average about 48 years of age, are more likely to be male, have completed college,with annual 9 household incomes between $35,000 and $75,000. In Minnesota, trail users have median incomes$10,000 higher i 10 than average;good news for the communities along the trail." Since the trail travels directly through the center of 11 downtown Pequot Lakes, users have the opportunity to hop off and enjoy a meal or a walk past the specialty 12 stores. Since the trail directly impacts local businesses, cold months reduce the number of visitors to Pequot Lakes 13 via the Paul Bunyan Trail. 14 In general,trails also act to enhance property values of abutting parcels: 15 A 1998 study of property values along the Mountain Bay Trail in Brown County,Wisconsin shows that lots adjacent 1 16 to the trail sold faster and for an average of nine percent more than similar property not located next to the trail. 17 • Realizing the selling power of greenways, developers of the Shepherd's Vineyard housing development in Apex, 18 North Carolina added $5,000 to the price of 40 homes adjacent to the regional greenway.Those homes were still 2 19 the first to sell. 3 20 In Minnesota,87%of home owners believe trails either increased property value or had no impact. 21 i 22 Parks and Trails Council of Minnesota. "The Economic and Social Benefit of Trails." www.parksandtrails.org 2 23 Rails-to-Trails Conservancy. "Economic Benefits of Trails and Greenways." 24 http://www.trailsandgreenways.org/TAG Documents/ 3 25 Rails-to-Trails Conservancy. "Economic Benefits of Trails and Greenways." 26 http://www.trailsandgreenways.org/TAG_Documents/ 4 27 Parks and Trails Council of Minnesota. "The Economic and Social Benefit of Trails." www.parksandtrails.org 28 29 Heritage Tourism 30 Heritage tourism provides an opportunity for rural areas to capitalize on the characteristics that celebrate their 31 uniqueness and make them positive and interesting places to visit. An increasing number of families and retirees 32 enjoy traveling to places that have preserved and enhanced their natural, cultural, historical, architectural and 33 social features rather than developing in the same generic manner as most American towns and cities have been 171 Page