USA - New Study Touts Economic Benefits of Flood Resilience
A new economic study by Johns Hopkins University and the American Flood Coalition stated that $1 billion in flood resilience investment could create up to 40,000 new jobs in America.
The report, titled “The Local Economic Impact of Flood-Resilient Infrastructure Projects” (available at assets.floodcoalition.org), used data from the Federal Emergency Management Agency (FEMA) to measure the impact of federal investment in flood-resilient infrastructure projects on local economies.
Researchers discovered that every $1 million invested in flood infrastructure projects could be expected to create 40 new jobs in the construction and retail industries. Construction workers would be needed to build the infrastructure, and stores would need to open to cater to demands for supplies, meals, etc. Based on this number, every $1 billion spent on these projects would create up to 40,000 new jobs across the country.
An analysis in the study pointed out that 80 percent of subcontracts for infrastructure jobs in coastal Louisiana in 2006-2019 went to businesses located in coastal Louisiana. Ninety-nine percent of subcontracts went to businesses in Louisiana. The most commonly funded projects in this time span were barrier island restoration, marsh creation and shoreline protection. The total number of jobs in coastal Louisiana parishes grew by five percent in this period, compared to a one percent reduction in non-coastal parishes.