It could cost Hampton Roads tens of billions if a Category 3 hurricane were to hit the region, according to a new study by professors at Old Dominion University.
Bob McNab, director of the Dragas Center for Economic Analysis and Policy at ODU, said the team used Hurricane Florence to model scenarios for the region. Using a 3.6-foot tidal offset (meaning 3.6 feet in water rising from the median tide), potential damages across Hampton Roads were estimated at about $15.6 billion.
Researchers found that funding better flood infrastructure now is a better investment than paying to repair damages down the line…