[FISCAL NOTES] A Storm to Remember: Hurricane Harvey and the Texas Economy

A Storm to Remember – Hurricane Harvey and the Texas Economy

Fiscal Notes Cover

In the latest issue of Fiscal Notes, we release the results of the Comptroller’s original research and analysis on the economic effects of Hurricane Harvey. The storm delivered staggering losses to our state: nearly 200,000 homes destroyed as well as $670 million in damage to public infrastructure and $200 million in crop and livestock losses.

But the Texas economy, like its people, is resilient. The state has already absorbed much of the damage from this record-breaking storm and should avoid long-term losses. The Comptroller’s office estimates the net impact of Hurricane Harvey will be a loss of $3.8 billion to the state’s economy during the first year following the storm, followed by a cumulative gain of approximately $800 million over three years, due largely to recovery efforts and increased construction activity. The new issue also discusses mitigation proposals that could lessen the impact of future storms. 


Source: Texas Comptroller

Share This Post