Flood Mitigation: 4 Key Points
Flood mitigation is the effort to reduce loss of life and property by lessening the impact of flooding. In order for it to be effective, we have to take action now, before a flooding disaster occurs. Flooding can happen any place, at any time, so it's important for everyone across the country to be prepared. In today's blog, we take a look at some key points about flood mitigation from flood economics research:
Aside from the amount of money saved by taking action to prevent or reduce the effects of flooding, flood mitigation offers a variety of other benefits. Local authorities are driven to take action in order to revitalize neighborhoods, improve public spaces, enhance public safety and more! Research and analysis indicates that the economic benefits of flood mitigation significantly outweigh the costs by as much as 5:1. When broader benefits are considered, it could be even higher than that. Here is a list of common benefits:
While funding flood mitigation may seem like a challenge, creative local solutions and diverse financing sources exist, and can ease the financial strain on communities. Federal and other government related assistance programs are in place to help ease the financial burden for both homeowners and community leaders. In addition, communities can leverage local resources to help cover costs.
After investing in flood mitigation, many communities improved their Community Rating System (CRS) class and received significant discounts on flood insurance. In some cases the discount was up to 45% on flood insurance. That puts more money back into the pockets of property owners.
Communities that invest in flood mitigation can see a huge return on investment and other benefits. FloodEconomics.com offers 11 case studies showing ROI, key successes and challenges and community benefits.
What are you going to do today to promote flood mitigation in your community? There are a variety of things communities can do to prepare for flooding. From building critical infrastructure, such as levees and dams, to vegetation management and land stabilization, communities across the country are investing in flood mitigation projects and so should yours! Big Bags USA® is here to help! Our innovative flood barriers can be used for a variety of flood mitigation projects. They can be used for levee heightening, slope stabilization, coastal erosion, coffer dams, traffic safety and more! For more information about how we can help your community with all your flood mitigation needs, give us a call at 800-337-0537 or visit our website.
1. Communities benefit from flood mitigation.
Aside from the amount of money saved by taking action to prevent or reduce the effects of flooding, flood mitigation offers a variety of other benefits. Local authorities are driven to take action in order to revitalize neighborhoods, improve public spaces, enhance public safety and more! Research and analysis indicates that the economic benefits of flood mitigation significantly outweigh the costs by as much as 5:1. When broader benefits are considered, it could be even higher than that. Here is a list of common benefits:
- Avoided Property Losses
- Avoided Business & Education Interruption
- Ecosystem Benefits
- Avoided Loss of Critical Infrastructure
- Revitalized Neighborhoods
- Improved Public Spaces
- Enhanced Public Safety
- Increased Competitiveness for the Community
2. Solutions exist for funding flood mitigation.
While funding flood mitigation may seem like a challenge, creative local solutions and diverse financing sources exist, and can ease the financial strain on communities. Federal and other government related assistance programs are in place to help ease the financial burden for both homeowners and community leaders. In addition, communities can leverage local resources to help cover costs.
- Federal Mitigation Grants and Loans
- Utility Surcharge
- Climate Adaptation Bonds
- Catastrophe Bonds
- Resiliency Bonds
- Sales Tax
- Grants
- Mitigation Bonds
- Road/Bridge Improvement Fund
- Flood Insurance
- Local Capital Budget
- Loans
3. Flood mitigation can decrease the costs of flood insurance.
After investing in flood mitigation, many communities improved their Community Rating System (CRS) class and received significant discounts on flood insurance. In some cases the discount was up to 45% on flood insurance. That puts more money back into the pockets of property owners.
4. Flood mitigation benefits result from local action.
Communities that invest in flood mitigation can see a huge return on investment and other benefits. FloodEconomics.com offers 11 case studies showing ROI, key successes and challenges and community benefits.
- Austin, Minnesota
- Jefferson County, Wisconsin
- Elkader, Iowa
- Boston, Massachusetts
- Shepherdsville, Kentucky
- St. Louis County, Missouri
- DeKalb County, Georgia
- Cobb County, Georgia
- Jefferson Parish, Louisiana
- Hancock County, Mississippi
- Lemon Grove, California
Flood Mitigation in Your Community
What are you going to do today to promote flood mitigation in your community? There are a variety of things communities can do to prepare for flooding. From building critical infrastructure, such as levees and dams, to vegetation management and land stabilization, communities across the country are investing in flood mitigation projects and so should yours! Big Bags USA® is here to help! Our innovative flood barriers can be used for a variety of flood mitigation projects. They can be used for levee heightening, slope stabilization, coastal erosion, coffer dams, traffic safety and more! For more information about how we can help your community with all your flood mitigation needs, give us a call at 800-337-0537 or visit our website.
If you have an immediate need for our systems, or have any questions for us, please Call us Toll Free at 1-800-337-0537 or visit www.BigBagsUSA.com.
If you have an immediate need for our systems, or have any questions for us, please Call us Toll Free at 1-800-337-0537 or visit www.BigBagsUSA.com.
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