The Economic Importance of Texas' Coastal Counties: An Analysis of the Dependence of Texas and its Regions on Business Operations in the Tier 1 Windstorm Insurance Coverage Area
Report Published on January 18, 2015In 2015, The Perryman Group prepared a study to assist the efforts to reform the windstorm insurance system which focused on the possibilities of major storms along the Gulf Coast. While the analysis obviously does not reflect the unique and unprecedented effects of Hurricane Harvey, it does provide some useful insights. Given the significance of this historic storm and its role in the economy in the coming months, we wanted to share these insights.
- Tags:
- hurricane,
- Gulf Coast,
- wind,
- coast,
- Texas
Hurricane Beryl Causes Estimated $2 Billion Net Loss in Texas Output
Brief Published on July 16, 2024Hurricane Beryl made landfall in the Houston area on July 8 as a Category 1 storm. Sustained winds of up to 80 miles per hour and rainfall of up to eight inches across the metropolitan area caused significant damage. Flooding, downed trees, power outages, and structural damage were extensive, with preliminary estimates of $1.5 billion in Texas and $2.5 billion across the United States. The loss of life and human suffering is of paramount importance and should be the primary concern, as well as enormous emotional losses. Long-lasting power outages compound the difficulties, particularly given the summer heat.
- Tags:
- hurricane
Economic Costs of Hurricane Idalia Include an Estimated $18.4 Billion Net Loss in US Output
Brief Published on September 15, 2023On August 30, Hurricane Idalia made landfall as a Category 3 hurricane along Florida's Gulf Coast causing severe wind damage and flooding. The storm continued across Georgia as well as South Carolina and North Carolina as a tropical storm. The human suffering is of paramount importance and should be the primary concern, as well as enormous emotional losses. In addition, the storm will have a significant impact on the economy.
- Tags:
- economic impact,
- hurricane,
- natural disaster
Economic Costs of Hurricane Ian Include an Estimated $36.7 Billion Net Loss in US Output
Brief Published on September 30, 2022On September 28, Hurricane Ian made landfall along the southwest Florida coast causing severe wind damage and flooding. The loss of life and human suffering is of paramount importance and should be the primary concern, as well as enormous emotional losses. In addition, the storm will have a significant impact on the economy, which could rise if there is significant additional damage in South Carolina.
- Tags:
- storm,
- hurricane,
- natural disaster,
- impact analysis
Dr. Perryman on Hurricane Harvey
Video Delivered on October 06, 2017Ann Harder of KXXV-TV interviews Dr. Perryman about the economic impacts of Hurricane Harvey.
- Tags:
- hurricane
Hurricane Michael to Cost the US Economy Almost $53 Billion
Press Release Released on October 12, 2018Hurricane Michael made landfall at the Florida Panhandle on October 10 before moving towards Georgia, the Carolinas, and Virginia. In addition to the tragic loss of life, the storm caused substantial wind damage and devastating flooding. Recent preliminary damages estimates by the National Weather Service indicate property and short-term losses of over $30 billion.
- Tags:
- Virginia,
- Florida,
- hurricane,
- South Carolina,
- North Carolina
Hurricane Florence to Cost US Economy Over $35 Billion
Press Release Released on September 19, 2018Hurricane Florence made landfall at Wrightsville Beach, North Carolina on September 14 before moving over eastern South Carolina. In addition to the tragic loss of life, the storm caused substantial wind damage and devastating flooding. Recent preliminary damages estimates by Moody's Analytics indicate property and short-term losses of $17-$22 billion.
Hurricane Maria to Cost the Economies of Puerto Rico and Other Us Territories Nearly $48 Billion
Press Release Released on October 06, 2017The third major hurricane in two months hit the United States in late September, this time impacting Puerto Rico and surrounding islands. A category 4 storm at landfall, Hurricane Maria hit south of Yabucoa Harbor in Puerto Rico on September 20, with sustained winds of 155 miles per hour. The storm caused the electrical infrastructure of the entire island to be destroyed, and some estimates put the restoration of power on the island on a six to eight or even 10-month time frame. Hurricane Maria also extensively damaged drinking water supply systems, hospitals, schools, and cell service infrastructure.
- Tags:
- Puerto Rico,
- hurricane
Hurricane Irma to cost the US economy an estimated $75 billion
Press Release Released on September 13, 2017With Hurricane Irma making landfall in Florida, the US has suffered two major hurricanes in a little over two weeks. Fortunately, the impact of Irma was not as bad as initially feared, although it still created significant damage and destruction of homes and businesses. The human suffering is of paramount importance, and the emotional losses are enormous. As with Hurricane Harvey, Hurricane Irma will have a significant impact on the economy.
- Tags:
- hurricane
DACA Decision Could Significantly Complicate Recovery from Hurricane Harvey
Press Release Released on September 05, 2017The Trump Administration has announced a decision to end Deferred Action for Childhood Arrivals (DACA), an immigration program allowing individuals who entered the United States as children to remain here for school or work. Nearly 800,000 persons are enrolled in the program. Approximately 124,3000 of these "Dreamers" live in Texas, with a high concentration in Houston and the Gulf Coast region.
- Tags:
- hurricane,
- immigration,
- DACA