ABSTRACT

Just northwest of Aurora, Illinois, on the outskirts of Chicago, lie one

hundred and twenty acres of silt loam soils, planted in the latest variety of feed corn. Nailed to a machine-shed, a large ‘‘For Sale’’ sign indicates that

this particular piece of real estate is about to be thrown into the circuit of

capital once again, but this time there will be a difference: the prospective

new owner, a residential development firm, is not planning to plant corn or

soybeans. Instead, they will produce and sell ecosystem services, by restoring

the site to its presettlement wetland condition, and establishing a commer-

cial wetland mitigation bank. By entering into a complex agreement with

federal and county regulatory agencies, the banking firm will sell ‘‘wetland credits’’ to individuals compelled to buy them by those same agencies.

Within five years, the production and sale of ecosystem services in the farm

field outside of Aurora will have grossed nearly three million dollars.