Mitigation banks are a tool created to mitigate and compensate for negative impacts on the environment resulting from man made activities, especially damage caused to endangered wildlife, plants, and wetland ecosystems. The main objective of creating the system of mitigation banks is to achieve environmental equilibrium, meaning “No Net Loss” to all environmental functions. This means damage to one area is compensated for in another area of like-kind through restoration. There is great controversy surrounding this claim. There is a system of debits and credits to ensure ecological loss from development is preceded by restoration of a similar ecology and function. Wetland mitigation banks are the focus for the purpose of research. Background and benefits will be given first, followed by threats, issues, solutions and a personal experience with mitigation banks.
In recent years, a more sustainable approach integrating economic, socio-cultural and environmental impacts has been suggested when analyzing short term event such as festivals. It is important for event managers and scholars alike to understand these potential impacts as heritage festivals continue to evolve and prevalent part of heritage tourism.
This study aims to measure and quantify the economic, social and environmental impacts of two heritage festivals – Gold Rush Days and Bluegrass Festival, closely following Andersson and Lundberg’s 2013 study on commensurability and sustainability utilizing willingness to pay (WTP) and willingness to accept (WTA). Both are annual heritage festivals and take place in Wickenburg, Arizona. Primary data collection methods are used to gather information regarding economic and social impacts. Paper questionnaires distributed via stratified random sample to festival attendees and town residents is the survey instrument used in the study. To determine environmental impacts, secondary data in the form of stakeholder interviews are conducted.
Findings suggest a positive economic impact to the town of Wickenburg. Visitor expenditures, retained local spending and direct, indirect, and induced impacts are presented. Social impacts show a generally positive attitude toward the festival from a resident perspective. Environmental impacts show that collaboration among town stakeholders is needed to better determine festival environmental impact as no formal measures of impact are currently being recorded. Further empirical research is needed to better determine these impacts.