The Iowa Nutrient Reduction Strategy was created as a result of the Mississippi River/Gulf of Mexico Watershed Nutrient Task Force to reduce the size of the hypoxic zone in the Gulf of Mexico. The Iowa Nutrient Reduction Strategy requires point source polluters, such as the City of Ames Wastewater Treatment Facility, to reduce the amount of nitrogen and phosphorus being exported into the Mississippi River. As a part of its Nutrient Reduction Plan, The City of Ames believes that its money may be better spent on improving its watershed rather than improving wastewater treatment practices. In this study, I evaluated the economic benefits of water quality improvement and unrelated ancillary benefits of three different watershed improvements being proposed to the city. The includes value of nutrient removal, flood mitigation, recreation, and wildlife for each proposed watershed improvement. A literature review of ecosystem services valuation was done to quantify non-water quality benefits, while water quality benefits were calculated using cost of removal values at the City Wastewater Facility.