Emergy concept was used to evaluate the contributions of a dam construction to the real wealth of our economy. A dam that is proposed as a multi-purpose dam was used to illustrate emergy evaluation methodology. Models for emergy evaluation were constructed with energy systems language, a symbolic modeling language which presents network properties of systems holistically. Water supply was the most important contribution in terms of emergy, which reflects that the dam is proposed for stable water supply to a local region. Generation of electricity was the second in emergy benefits of the dam. Emergy costs were more evenly distributed among the costs which would occur as a result of the dam construction. Emergy yield ratio was 1.30 if sediments are not included, and 1.15 if sediments are included, which results in net yield in both cases. The ratio would, however, fall below 1.0 if rare species within the system boundary are lost as a result of the dam construction because of the high emergy value included in biotic species, which means that emergy costs will be greater than emergy benefits. This study illustrated a new methodology in environmental impact assessment to better manage our environments in an age of diminishing resources.