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.
A’ndrea Elyse Messer | EurekAlert!
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