New research suggests a new type of golf course could be an economic boon for the U.S.
TIME title Why does the world have a golf course problem?
article TIME article The new research shows that a golf golf course is an economic benefit, and not just for its people.
The study, published in the journal Nature, found that the cost of building a new golf course in the United States, based on current costs, is about $1,000 per square foot, or about $40,000 a square foot.
That compares to a typical hotel or rental property that costs around $200,000, the researchers said.
In contrast, a new $100 million golf course, if built in the U and built in a location with a similar level of development, would cost $1 billion.
“The value of a golf facility is much greater than it is in a hotel or an apartment complex,” said the study’s lead author, Matthew D. McLean, a research fellow at the Woodrow Wilson School of Public and International Affairs at Princeton University.
McLeod, who is a senior research fellow in the Department of Economics at MIT, used an analysis of data from the U, British Isles and the U of Pennsylvania, looking at what would happen if the U had a new version of a popular golf course.
“Our analysis shows that the value of such a new facility is not a cost but an economic boost,” McLeod said.
“For example, if you’re looking at a $1 million golf club in New Jersey, you have a lot of money to spend.
It’s very expensive.
The research team looked at the U., the British Isles, and Pennsylvania, all of which have been hit hard by the economic crisis. “
So the fact that you can get a $400 million golf facility up and operating is not the end of the world.”
The research team looked at the U., the British Isles, and Pennsylvania, all of which have been hit hard by the economic crisis.
They compared the cost and benefits of a $200 million golf resort in the same locations with similar levels of development to find out which type of development would be most cost-effective for a new project.
McAllens team also looked at how development in each state affects property values.
It found that in the five states with the most development, property values went up significantly, and the cost per square feet went down.
The difference was most stark in New York, where development led to a property value increase of about 5 percent.
“In a sense, it’s an economic windfall,” McAllen said.
If the U were to have a $2 billion golf course that was built in New Mexico, the cost would be about $100 per square meter.
But in a state like Pennsylvania, it would be $100 a square meter less.
That means that the golf course would be worth $100 billion.
That’s a much better value for a lot less land.
“It makes a lot harder for developers to go bankrupt,” McLean said.
Mcallens team compared golf courses in Pennsylvania, New York and the UK to see which were most profitable.
They looked at land value per square mile, the land value of each golf course compared to a comparable hotel or condo building, and what would be the impact of new development on property values and rents.
“What we found was that the economic windfalls that you get in a new development, if done right, will be worth the cost,” McLents said.
And for a city, it can pay off.
New York City, for example, lost about $500 million in property values in its entire history.
The new golf facility would bring about $400,000 to $500,000 in economic value to the city, McLean noted.
The project could even pay for itself in the long run.
“If you take the cost, the return on investment, and you divide it by the amount of land, it turns out that you’d get a return of 20 percent, 25 percent, and so on,” Mcallen said, “and that’s a very, very strong return.”
He also said that a new U. S. golf course with the same level of investment could be a much more attractive option to a city that doesn’t have any golf courses.
“We’re seeing that a lot in cities that don’t have a great golf course,” he said.
The report comes as golf course developers around the country are struggling to find a way to make money from their courses.
The U.K. is in the midst of a public outcry over the decision to close the country’s only open golf course after it failed to generate revenue, and plans to build a golf park in Wales.
New Zealand and Canada have also been forced to close golf courses after the cost to their governments to maintain them fell below a certain level.
“There’s a lot going on,” said Steve Henshaw