Lake AGÕæÈË°Ù¼ÒÀÖ is an engine for economic activity that pumps $668 million into the local community and supports about 5,200 jobs, according to a new analysis. But low lake levels are draining money from the area.
Specifically, when Lake AGÕæÈË°Ù¼ÒÀÖ falls beneath 660 feet above sea level, visitor spending drops by up to $33.8 million, the says. The report was commissioned by AGÕæÈË°Ù¼ÒÀÖ County and local business owners, many of whom hope to affect the 's Highland Lakes policy.
When Lake AGÕæÈË°Ù¼ÒÀÖ gets below 650 feet, the study says it’s even worse, “driven by the closure of most of the lake’s boat ramps as well as media attention.â€�
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“We’re seeing 40 percent drops in revenues, 50 percent drops in our workforce,� owner Pete Clark told KUT News. “There’s tremendous uncertainty, because we have no idea when it’s going to come back.�
Other consequences of Lake AGÕæÈË°Ù¼ÒÀÖ dropping below 660 feet, according to the study:
- $23.6 million to $33.8 million reductions in visitor spending
- A 350,000 to 375,000 fewer park visits
- 29 lost jobs for each 10 percent drop in park visits
- Up to 241 lost jobs and $6.1 million in wages
- $22 million drop in tax revenue
- $45,000 from decreased hotel receipts
- $120,000 from less visitors ordering mixed drinks
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