GRAND RAPIDS, MI – Restoring the rapids to the Grand River as it flows through downtown will have an economic benefit of $15.9 million to $19.1 million annually, according to a new study by the Anderson Economic Group.

That estimate is tied to an anticipated uptick in tourism associated with recreational activity from kayaking to fishing, which in turn would generate new visitor spending and new jobs. The study suggests a river with rapids could generate an additional 250,000 to 500,000 visitors to the city each year.

The financial benefit could actually be larger, said Paul Isely, chair of the economics department at Grand Valley State University, who described the findings of the report, which he did not help author.

"I expect the impact will be larger once you factor in the potential for new riverfront real estate development, improved land use and business and talent attraction that come when a community enhances and maintains its natural resources and quality of life," said Isely, speaking during a press conference Monday morning announcing the study's results.

Isely thinks the investment in the river could result in another $300 million in new construction or improvements along the waterway, resulting in rising property values.

Restoring the rapids is expected to cost about $30 million based on estimates put together by Grand Rapids Whitewater.

Beyond the economic impacts listed in the Andersen report, Grand Rapids Whitewater co-founders Chris Muller and Chip Richards expect a "triple bottom line" that will improve the community's health, economy and natural resources.

The press conference was led by Muller, who was also joined by Mayor George Heartwell; Rodney Stokes, a special environmental advisor for Gov. Rick Snyder’s office; and Todd Ambs, campaign director for Healing Our Waters - Great Lakes Coalition.

The Andersen report is another step in Muller and Richards’ campaign to remove part of the Sixth Street Dam and restore the city’s namesake rapids through downtown.

The pair, who began their campaign five years ago as a plan to allow kayaking downtown, have seen their dream project blossom into a full-fledged river restoration effort.

Last year, the project was endorsed as one of 11 locations to be added to the federal government's Urban Waters Federal Partnership "to restore waterways, help local economies, create jobs and protect Americans' health."

Gov. Rick Snyder and the state's agencies are excited about the project, said Stokes, who is Snyder's special advisor for City Placemaking. He suggested those behind the Grand River project go beyond the riverbanks into the neighborhoods during their planning.

He added that the focus on restoring the Detroit River over the past decade has helped generate more than $1 billion in investment for the city of Detroit.

Environmental restoration is economic restoration, said Ambs, noting that one study showed that every $1 invested in Great Lakes restoration produced at least $2 in economic benefit.

Though the project has been relatively quiet since the federal sponsorship was announced, Muller and Richards said the project has continued to work through the engineering studies they will need to submit their applications to the state’s Department of Environmental Quality.

The current design calls for a partial removal of the Sixth Street Dam and the erection of a new adjustable dam farther upstream to keep the sea lamprey from spawning in the river. The new dam upstream also will include a new fish ladder for other fish species that spawn farther upstream.

According to the plan, the restoration project would result in a 500 percent increase in fish holding habitat and a fivefold increase in habitat diversity.

The project also would result in an 850 percent increase in lake sturgeon spawning habitat, a 100 percent increase in upstream fish passage and a 275 percent increase in sport fishing perimeter.

While they still have not submitted any applications to regulatory agencies yet, Muller said it’s possible they could start work on the restoration project in the next few years.

RELATED:

• Grand Rapids Whitewater unveils latest plan to restore the city's namesake rapids

• Grand Rapids Whitewater leaders to unveil economic impact of restoring the rapids downtown

Reporter Jim Harger contributed to this story.

Shandra Martinez covers business for MLive/The Grand Rapids Press. Email her or follow her on Twitter @shandramartinez.