re: The Iowa flood of 2008

Cedar Rapids numbers not a lot of corn and soybeans in CR or Des Moines for that matter.

The flooding waters caused devastation throughout the city on its citizens, businesses, property
owners, public buildings, religious and cultural organizations and transportation facilities (City
of Cedar Rapids, 2010).
x The flooding waters extended well beyond the 500-year floodplain and covered more
than 10 square miles of the city.
x There were 18,000 residents displaced by the muddy and sewage-filled waters that
damaged over 5,000 homes and 310 public facilities including City Hall, the Linn County
Courthouse and the City's central fire facility.
iii
x Total number of businesses directly or indirectly impacted by the flood: 1,281
o Number of businesses lost as a result of the flood: 131
o Number of businesses that have reopened: 671
o Number of businesses that reopened outside the city or flooded area: 143
x Number of jobs in the flood impacted area before the flood: 11,814
x Number of jobs lost as a result of the flood: 1,865
o Permanent: 1,324
o Temporary: 541
x Only one of seven bridges in the City (and metro area) across the Cedar River was
accessible (I-380) limiting access to the hospitals on the east side of the river.
The Cedar Rapids flood had large local and regional impacts that may persist long into the
future
Three types of regional economic development analysis are addressed in this report. First, the
direct, indirect and induced economic impacts of business lost as a result of the 2008 Cedar
Rapids Flood during the recovery period.
x The cumulative economic impacts caused by the 2008 Cedar Rapids Flood during the
period of business recovery. We estimate that the economic impacts due to the 2008
Cedar Rapids Flood generated losses in Linn County totaling:
o $2.5 billion in business sales over the flood recovery period,
o 14,500 work-years of employment and nearly $590 million in employee
compensation,
o $60 million in proprietor’s income,
o $466 million in rents, dividends, profits, etc. were lost or not paid,
o $103 million in indirect business taxes, and
o $1.2 billion in gross domestic product (value added).
x We estimate that the cumulative economic impacts due to the 2008 Flood generated
losses in rest of Iowa totaling:
o $105.8 million in business sales over the flood recovery period,
o 513 work-years of employment and nearly $19.2 million employee compensation,
o $4.9 million in proprietor’s income,
o $18.8 million in rents, dividends, profits, etc. were lost or not paid,
o $2.4 million in indirect business taxes, and
o $45.2 million in gross domestic product (value added).
x We estimate that the cumulative economic impacts due to the 2008 Flood generated
losses in State of Iowa totaling:
iv
o $2.6 billion in business sales over the flood recovery period,
o 15,000 work-years of employment and nearly $609 million employee
compensation,
o $4.9 million in proprietor’s income,
o $64.7 million in rents, dividends, profits, etc. were lost or not paid,
o $105.6 million in indirect business taxes, and
o $1.3 billion in gross domestic product (value added).