Think a pandemic hurt the economy? Experts warn the ‘big one’ would cost billions

Southern California is already grappling with wildfires and a worldwide pandemic, but a coalition of experts warned this week that a major earthquake could cause massive disruption to the region’s economy unless commercial and apartment buildings are seismically braced.

How big a disruption?

USC researchers estimate the eight-county region could suffer property damage of $113 billion in a major quake, with additional business-related impacts of $68 billion or more.

In a press conference held Wednesday in Los Angeles — the week of the 13th annual California ShakeOut — representatives from Optimum Seismic., the California Earthquake Authority and other organizations stressed the importance of being prepared.

“When the big one hits, the impacts on our infrastructure, our communities and our businesses are going to be profound,” said Evan Reis, executive director of the U.S. Resiliency Council. “We know that earthquakes are inevitable in California, but they don’t have to become disasters.”

Glenn Pomeroy, CEO of CA Earthquake Authority speaks as state and Los Angeles area leaders came together during the week of the Great California Shakeout to encourage businesses and Angelenos to get prepared by acting now to improve resilience and reduce earthquake damage at the Chamber of Commerce in Los Angeles on Wednesday, October 14, 2020. (Photo by Keith Birmingham, Pasadena Star-News/ SCNG)

Ali Sahabi, COO of Optimum Seismic speaks as state and Los Angeles area leaders came together during the week of the Great California Shakeout to encourage businesses and Angelenos to get prepared by acting now to improve resilience and reduce earthquake damage at the Chamber of Commerce in Los Angeles on Wednesday, October 14, 2020. (Photo by Keith Birmingham, Pasadena Star-News/ SCNG)

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ASM. Adrin Nazarian, Representing District 46 speaks as state and Los Angeles area leaders came together during the week of the Great California Shakeout to encourage businesses and Angelenos to get prepared by acting now to improve resilience and reduce earthquake damage at the Chamber of Commerce in Los Angeles on Wednesday, October 14, 2020. (Photo by Keith Birmingham, Pasadena Star-News/ SCNG)

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Glenn Pomeroy, CEO of CA Earthquake Authority speaks as state and Los Angeles area leaders came together during the week of the Great California Shakeout to encourage businesses and Angelenos to get prepared by acting now to improve resilience and reduce earthquake damage at the Chamber of Commerce in Los Angeles on Wednesday, October 14, 2020. (Photo by Keith Birmingham, Pasadena Star-News/ SCNG)

Tracy Hernandez, Founding CEO of BizFed speaks as state and Los Angeles area leaders came together during the week of the Great California Shakeout to encourage businesses and Angelenos to get prepared by acting now to improve resilience and reduce earthquake damage at the Chamber of Commerce in Los Angeles on Wednesday, October 14, 2020. (Photo by Keith Birmingham, Pasadena Star-News/ SCNG)

Ali Sahabi, COO of Optimum Seismic speaks as state and Los Angeles area leaders came together during the week of the Great California Shakeout to encourage businesses and …read more

Source:: Los Angeles Daily News

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