Report Examines Costs and Benefits of Building with Resiliency
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Recent research from MIT’s Concrete Sustainability Hub found that a $10 million non-engineered wood building is expected to face $0.505 million in hazard related damages over 50 years, while a $10 million engineered concrete building is expected to face only $0.165 million over the same period. According to the Fifth Assessment Report of the Intergovernmental Panel on Climate Change, the global cost of climate-related disasters has dramatically increased each decade: from $50 billion in the 1960's (16 disasters) to $400 billion in the 1990's (70 disasters).
When coupled with incentivizing resilient construction with a tax credit and/or an insurance rebate (as in Georgia, Mississippi, Alabama and North Carolina), one wonders why there would be such an objection to it. It truly creates a win-win scenario for states and the building industry. Data from the National Institute of Building Science’s Multi-hazard Mitigation Council also shows that for every $1 spent on disaster mitigation, society saves $4. Build With Strength, a coalition led by NRMCA to address this issue in many states and cities with both a public affairs campaign and a robust advocacy effort.
To learn more about how NRMCA can assist in mitigating disasters and hazards in your state, please contact John Loyer at 703-675-7603 or jloyer@nrmca.org.
