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.