The St. Louis River in northeastern Minnesota is the largest river flowing into Lake Superior. The river provides tremendous economic benefits to the stakeholders within its watershed, with natural capital assets that produce a broad range of ecosystem service benefits, including clean air and water, wildlife habitat, and food.

In 2014, the Fond du Lac Band of Lake Superior Chippewa, with support from the US Environmental Protection Agency, asked Earth Economics to estimate the value of ecosystem services produced throughout the watershed. The St. Louis River has been designated a Great Lakes Area of Concern since 1987, largely due to decades of uncontrolled pollution.

Even with these challenges, the watershed's ecosystem services provide at least $5 billion to $14 billion in economic benefits every year. Despite mining activity in the river's headwaters, the St. Louis River still provides significant economic value to the region's residents.