ODU analysis: A Category 3 hurricane could cause $15.6B in damage to Hampton Roads
NORFOLK, Va. (WAVY) — If Hurricane Florence had made a direct hit on Hampton Roads, it could have caused up to $15.6 billion in damage to the Hampton Roads area. That's according to a new analysis from ODU that modeled just that scenario.
The paper attempted to predict how a Category 3 storm with storm surges of 3.6 feet and 6.6 feet, respectively, would impact the region. At the lower level, they estimate $11.2 billion in flooding related damage. At 6.6 feet, that number jumps to $33.2 billion.
'A 6.6 [foot] tidal offset would result in total damages equivalent to 32.3% of 2022 regional GDP (gross domestic product),' according to the paper.
The wind damage from such a storm, which they explain is independent from flooding, is estimated to cause $4.4 billion in destruction.
Most of the damage to buildings would occur to residential homes and apartments.
'We see over $2.3, $2.4 billion of total damages to the commercial sector, approximately $1.8 billion of uninsured damages — but that is dwarfed by total damages to the residential sector,' said ODU economist Dr. Bob McNab during a presentation of the paper. 'Even after assuming insurance coverage, you still have approximately $8 billion of uninsured damages in the residential sector.'
To mitigate the damage, the paper stresses the importance of expanding flood insurance coverage.
To read the report, see below:
Estimating-the-Economic-Impact-of-A-Natural-Disaster-on-the-Workforce-ResiliencyDownload
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
33 minutes ago
- Business Wire
KiWear Unveils Smart Ring Input Solution for AI Glasses in Collaboration with Qualcomm at AWE USA 2025
LONG BEACH, Calif.--(BUSINESS WIRE)--KiWear, Inc. today announced a reference design for a smart ring input solution for use with smart glasses and AI glasses during Qualcomm Technologies, Inc.'s opening keynote presentation at AWE USA 2025. The collaboration aims to help OEMs develop interactive solutions for AI smart glass partners. Industry analysts expect 60% year-over-year growth in 2025 and a sustained CAGR of over 60% through 2029. 'Qualcomm Technologies is fueling the AI glasses industry with our Snapdragon® XR Platforms. KiWear's smart ring, featuring algorithms co-developed with Qualcomm Technologies, makes an ideal input device for smart glasses and AI glasses,' said Ziad Asghar, SVP & GM of XR at Qualcomm Technologies, Inc. 'This new reference design represents a step forward in helping OEMs to deliver solutions that enable intuitive and discreet gesture based interaction for the growing category of AI smart glasses. 'We are thrilled to build next generation input solutions for both AI and XR together with industry leaders such as Qualcomm,' said Chris Shi, Founder and CEO of KiWear, Inc. Leading HCI Innovation KiWear, recognized as a leader in HCI innovations, has developed cutting-edge smart ring technology that enables seamless hand-centric interactions with smart glasses and AI glasses. The company's solutions address fundamental input challenges that have limited widespread smart glasses adoption. Founded in April 2025, KiWear is a Delaware-based company delivering comprehensive HCI solutions for multi-DoF controllers, smart rings, and wearables. The company brings together prominent computer vision scientists, AI/XR integration experts, and hardware/software innovators, with expertise spanning conceptualization to mass production. KiWear has forged collaborations and delivers exclusive solutions to six of the global top 10 consumer electronics leaders. With R&D hubs in Shanghai and Beijing beyond its U.S. headquarters, the company partners with premier technology conglomerates to enable natural HCI solutions for next-generation XR and AI products. Live Demonstrations Conference attendees can experience KiWear's smart ring and watch technologies at the Qualcomm Technologies' booth (Booth 209) during AWE USA, showcasing seamless integration with smart glasses platforms. Snapdragon is a trademark or registered trademark of Qualcomm Incorporated. Snapdragon branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries.
Yahoo
an hour ago
- Yahoo
Senate Republican calls July 4 ‘false deadline' for megabill
Sen. John Curtis (R-Utah), a moderate Republican, called July 4 a 'false deadline' for Republicans to pass their megabill and said it's more important for the Senate to get it done 'right' than fast. In an interview at Politico's Energy Summit in Washington on Tuesday, Curtis said he's confident the bill would eventually pass. But, he added, 'I can't tell you what it's going to look like or when it's going to pass.' He signaled a lightly less optimistic note on whether it would pass by the GOP's self-imposed July 4 deadline. 'Well, let me just say, I think a lot of us would be surprised if it passed by July 4,' Curtis said. 'I think that's a false deadline,' he added. 'I don't think that we need to put a specific deadline on it. Let's get it right.' Other GOP senators have also publicly and privately voiced doubts about meeting the July 4 deadline that Senate Majority Leader John Thune (R-S.D.) is shooting for as Senate Republicans remain divided on a number of hot-button issues. On Monday, Speaker Mike Johnson (R-La.) said he thinks the deadline is still realistic. 'We certainly hope, I believe, we can still meet that,' Johnson said. 'It's up to the Senate, the bill's in the Senate's hands now. But I spoke with Leader Thune as recently as last night, he's feeling very optimistic.' At Tuesday's summit, Curtis said he thinks the House-passed version unfairly rolls back some of the energy tax credits in Biden-era Inflation Reduction Act (IRA). He said some of those tax credits 'have run their life cycle' but it's important to 'be thoughtful in how we phase them out.' 'Banks, investors have invested billions of dollars based on the rules of the road, and you have employees who have set careers based on these things,' Curtis said. 'Let's not destroy careers and things like that,' he added. 'Let's give people a chance to adjust. So in the case of those that it's time to phase them out, I think how we phase them out matters.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
an hour ago
- Yahoo
Travel Advisory: Road closure along Fineview Place
SYRACUSE, N.Y. (WSYR-TV) — Motorists should be advised of a traffic pattern change related to the Interstate 81 Viaduct Project beginning June 11. On Wednesday, June 11, at 7 a.m., Fineview Place, between Renwick Avenue and Standart Street, in the City of Syracuse, will permanently close to traffic in both directions. The alignment of Fineview Place between Renwick Avenue and Standart Street is being replaced by the future Business Loop 81. The closure is necessary to facilitate the construction of the new roadway. East Raynor Avenue between Fineview Place and Henry Street will be closed in both directions beginning at 7 a.m. on Wednesday, June 11, and will reopen when Business Loop 81 northbound is complete and open to traffic. Construction activities are weather-dependent and subject to change based on conditions. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
