Damage Estimates From Hurricane Top $7 Billion | Business Facilities - Area Economic Development, Site Selection & Workforce Solutions

Hurricane Irene left 20 people dead, four million customers without power and potentially billions of dollars in damage from flooding and wind from the Carolinas through New England.


https://businessfacilities.com/2011/08/damage-estimates-from-hurricane-top-7-billion/
Hurricane Irene left 20 people dead, four million customers without power and potentially billions of dollars in damage from flooding and wind from the Carolinas through New England.
Facebooktwittergoogle_plusredditpinterestlinkedintumblrmail

Damage Estimates From Hurricane Top $7 Billion

Damage Estimates From Hurricane Top $7 Billion | Business Facilities - Area Economic Development, Site Selection & Workforce Solutions

Hurricane Irene left 20 people dead, four million customers without power and potentially billions of dollars in damage from flooding and wind from the Carolinas through New England.

Hurricane damage could total $7 billion, according to the Kinetic Analysis Corp., which estimates the impact of natural and man-made disasters on the economy, CNN reported. Less than half of that — some $3 billion — will be covered by insurance, the company said.

Eqecat, a catastrophe risk modeling firm, said that South and North Carolina suffered between $200 million and $400 million in insured losses. And the Caribbean — including the Bahamas, Turks and Caicos and Puerto Rico — suffered damage ranging from $300 million to $600 million.

As of Monday morning, Vermont seemed to bear the brunt of  flash flood damage from the hurricane, with some towns in the southern part of the state entirely covered by water. Officials began fanning across Vermont Monday morning to assess damage from treacherous flooding. More than 250 roads were closed, several of the state’s iconic covered bridges had washed away and some two dozen emergency shelters were “chock full” of people displaced from flooded homes, Gov. Peter Shumlin said.

Also, oil company ConocoPhillips that it had shut down its Bayway refinery in New Jersey as a result of the storm “until it is safe to resume operations.”

You Might Like:

  • Happy Economic Development Week!As the IEDC's second annual celebratory week for Economic Development begins today, here are some tips about how your location can participate.
  • Infographic: Louisiana’s SoLA Super RegionThe New Orleans and Baton Rouge metro areas, and the four parishes of the Bayou Region have banded together to form what they tout as an economic juggernaut — the 23-parish SoLA Super Region.
  • Issues in Facility Consolidation AnalysisThis LiveXchange seminar will discuss identifying the benefits, costs and risks of facility consolidation, particularly personnel loss and related business disruption, and including addressing tricky political issues.
  • InvesTT Trinidad and Tobago | El Socorro, TrinidadInvesTT Trinidad and Tobago ensures that you possess all the knowledge, tools, linkages and facilitation your organization needs to efficiently navigate your way to new business opportunities in our nation.
SHARE
Facebooktwittergoogle_plusredditpinterestlinkedintumblrmail

Previous articleOne Million Evacuated From Jersey Shore
Next articleNYX Puts $23-million Plant in Tennessee, Creating 400 Jobs

LEAVE A REPLY