Lake Freeman Economic Impact Study Completed
October 25, 2021
CARROLL COUNTY, WHITE COUNTY Ind. – The Lake Freeman economic impact study that was commissioned by the Carroll County Economic Development Corporation in partnership with the White County Economic Development Organization is now complete. The primary goal of the study was to get a macro level picture of the effect that the reduced water levels of Lake Freeman have had on Carroll and White County. The three main areas of study were local visitor data, consumer spending, and household gross assessed value (AV) leading up to and throughout the lowered water level period of 2020. The study was performed by the Purdue Center for Regional Development (PCRD).
Key Findings Include:
- Average days spent by visitors and property owners (secondary residences) at the lake decreasedbetween 2018-2019 and 2020.
- Lake property owner expenditures declined between 2018-2019 and 2020.
- Visitor related expenditures declined between 2018-2019 and 2020.
- Real gross assessed values (including per capita) decreased between 2018 and 2020.
- The lowered water levels in 2020 (July-December) created a loss of nine jobs affecting more thantwenty-five industries.
“This study produced great insight on the immediate effect,” stated Jake Adams, executive director of the Carroll County Economic Development Corporation. “This new information allows us to examine and provide possible projections to what a long-term reduction would do to our communities. This data clearly shows a significant impact.”
“With the numerous inquiries that we receive from our community regarding the financial impact that the lower lake levels are creating, we partnered with the Carroll County Economic Development Corporation to commission a study to answer these questions. I feel that the Purdue Center for Regional Development answered this challenge,” Randy Mitchell, President of the White County Economic Development Organization said.
“I commend Carroll and White counties coming together to commission a study to show how a natural asset affects their communities’ economies,” commented Roberto Gallardo, Director of the Purdue Center for Regional Development.