Report: Major hurricane could cost Virginia $40 billion

Virginia News
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NORFOLK, Va. (AP) — Experts say that southeastern Virginia could suffer $40 billion in losses if it’s struck by a major hurricane.

Professors from Old Dominion University said in a recent report that the damages could seriously puncture the regional economy.

The June 12 report said losses could equate to 40 percent of Hampton Roads’ gross domestic product. GDP is a measure of an economy’s health and accounts for the total output of goods and services.

The report predicted a loss of 175,000 jobs and a decline in economic activity if the region’s infrastructure and military installations suffer major damage.

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