Study: Economic Value of NOAA’s Geodetic Services at $2.4 Billion
July 29, 2009 in Associate Membership, Business, GPS, Land Surveying, News
Proposed Modernization Program to Net Additional $522 Million
Survey marks serve as permanent, accurate reference stations for precise positioning. High resolution (Credit: NOAA)
The NOAA-managed National Spatial Reference System (NSRS), the official U.S. government source for precise latitude, longitude and elevation measurements, provides more than $2.4 billion in potential annual benefits to the U.S. economy, according to a new independent study. Refining and modernizing the system for measuring elevation has the potential to net an additional $522 million in annual economic benefits.
Conducted by Leveson Consulting, Jackson, N.J., the study analyzed the total economic value of all revenue generated from private surveying and mapping as well as from related services in the government and nonprofit sectors. It also assessed the potential cost savings due to improved accuracy of position and elevation data.
