Featured Research

from universities, journals, and other organizations

Hazard Mitigation Can Save Money

Date:
January 23, 2006
Source:
Penn State
Summary:
An ounce of prevention may actually be worth a pound of cure, especially if the actions taken are to reduce losses from natural hazards, such as tornados, hurricanes or flooding, according to a Penn State researcher.

An ounce of prevention may actually be worth a pound of cure, especially if the actions taken are to reduce losses from natural hazards, such as tornados, hurricanes or flooding, according to a Penn State researcher.

"Our analysis found that for each dollar spent by the Federal Emergency Management Agency for grants to mitigate the effects of natural hazards, approximately $4 was saved from what would have eventually been spent on correcting damages," says Dr. Adam Rose, professor of geography. "Currently, the grants we studied, if extrapolated to all FEMA grants over the 10-year period ending in mid-2003, would save over $14 billion."

Rose led a research team conducting the study component that focused on the Benefit-Cost Analysis of FEMA mitigation grants. The team was assembled by the Applied Technology Council for the Multihazard Mitigation Council of the National Institute of Building Sciences. The MMC was funded to conduct this work, "Natural Hazard Mitigation Saves: An Independent Study to Assess the Future Savings from Mitigation Activities," by FEMA in response to a request from the U.S. House of Representatives Appropriations Committee.

In essence, for every dollar spent on mitigation, on average, four dollars would not need to be spent in the future to repair the damage and to compensate for death and injury caused by natural hazards. The report noted that grants to mitigate the damages done by floods, hurricanes, tornadoes and earthquakes from 1993 to 2003 are expected to save more than 220 lives and prevent nearly 4,700 injuries over about 50 years.

The researchers looked at two types of grants in this study. One type provided funding for physical measures intended to reduce damage directly -- including reinforcement against wind and earthquakes and raising buildings subject to flooding, for example. The other type provided funding for activities leading to hazard mitigation policies, practices and projects -- including risk assessment, education and building codes.

The researchers looked at both types of FEMA grants across the board to get a generalizable picture of the effects and at FEMA grants in a community context. The community studies included all grants received since 1988 by the selected communities. In both parts of the study, the researchers used cost-benefit analysis to evaluate the effects. Looking at benefits, from the point of view of losses to the society that were avoided by mitigation, they considered reductions in property damage, direct and indirect business interruption, loss of human life, cost of emergency response and environmental damage.

Another benefit was the reduction in tax revenue losses due to economic disruption caused by natural hazard damage. Reducing the cost of emergency response by FEMA and avoiding losses in tax revenues, frees up monies for other uses by other federal government agencies.

"The study found that hazard mitigation grants were cost-effective and reduced future losses from natural hazards," says Rose.

"This type of grant provides a significant net benefit to society and a significant net savings to the U.S. treasury."

An interesting side effect is that communities that benefited from FEMA mitigation grants also generally had additional, non-federally-funded mitigation activities. Also, communities that institutionalized mitigation programs showed the greatest benefit.



Story Source:

The above story is based on materials provided by Penn State. Note: Materials may be edited for content and length.


Cite This Page:

Penn State. "Hazard Mitigation Can Save Money." ScienceDaily. ScienceDaily, 23 January 2006. <www.sciencedaily.com/releases/2006/01/060123074846.htm>.
Penn State. (2006, January 23). Hazard Mitigation Can Save Money. ScienceDaily. Retrieved October 21, 2014 from www.sciencedaily.com/releases/2006/01/060123074846.htm
Penn State. "Hazard Mitigation Can Save Money." ScienceDaily. www.sciencedaily.com/releases/2006/01/060123074846.htm (accessed October 21, 2014).

Share This



More Earth & Climate News

Tuesday, October 21, 2014

Featured Research

from universities, journals, and other organizations


Featured Videos

from AP, Reuters, AFP, and other news services

Traditional Farming Methods Gaining Ground in Mali

Traditional Farming Methods Gaining Ground in Mali

AFP (Oct. 20, 2014) He is leading a one man agricultural revolution in Mali - Oumar Diatabe uses traditional farming methods to get the most out of his land and is teaching others across the country how to do the same. Duration: 01:44 Video provided by AFP
Powered by NewsLook.com
How Detroit's Money Woes Led To U.N.-Condemned Water Cutoffs

How Detroit's Money Woes Led To U.N.-Condemned Water Cutoffs

Newsy (Oct. 20, 2014) The United Nations says water is a human right, but should it be free? Detroit has cut off water to residents who can't pay, and the U.N. isn't happy. Video provided by Newsy
Powered by NewsLook.com
Hey, Doc! Sewage, Beer and Food Scraps Can Power Chevrolet’s Bi-Fuel Impala

Hey, Doc! Sewage, Beer and Food Scraps Can Power Chevrolet’s Bi-Fuel Impala

3BL Media (Oct. 20, 2014) Hey, Doc! Sewage, Beer and Food Scraps Can Power Chevrolet’s Bi-fuel Impala Video provided by 3BL
Powered by NewsLook.com
White Rhino's Death In Kenya Means Just 6 Are Left

White Rhino's Death In Kenya Means Just 6 Are Left

Newsy (Oct. 20, 2014) Suni, a rare northern white rhino at Ol Pejeta Conservancy, died Friday. This, as many media have pointed out, leaves people fearing extinction. Video provided by Newsy
Powered by NewsLook.com

Search ScienceDaily

Number of stories in archives: 140,361

Find with keyword(s):
Enter a keyword or phrase to search ScienceDaily for related topics and research stories.

Save/Print:
Share:

Breaking News:

Strange & Offbeat Stories


Plants & Animals

Earth & Climate

Fossils & Ruins

In Other News

... from NewsDaily.com

Science News

Health News

Environment News

Technology News



Save/Print:
Share:

Free Subscriptions


Get the latest science news with ScienceDaily's free email newsletters, updated daily and weekly. Or view hourly updated newsfeeds in your RSS reader:

Get Social & Mobile


Keep up to date with the latest news from ScienceDaily via social networks and mobile apps:

Have Feedback?


Tell us what you think of ScienceDaily -- we welcome both positive and negative comments. Have any problems using the site? Questions?
Mobile: iPhone Android Web
Follow: Facebook Twitter Google+
Subscribe: RSS Feeds Email Newsletters
Latest Headlines Health & Medicine Mind & Brain Space & Time Matter & Energy Computers & Math Plants & Animals Earth & Climate Fossils & Ruins