What poses biggest risk to the Portland economy?


Hint: The Big One did not make the top three.

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BY JACOB PALMER | DIGITAL NEWS EDITOR

Lloyd’s of London recently released a study revealing the biggest threats to Portland’s financial viability.

Despite the hysteria created by a recent New Yorker article, earthquakes did not crack the top three.

  1. Market crash — $2.72 billion
  2. Oil price shock — $1.70 billion
  3. Cyber attack — $1.52 billion

According to the Portland Business Journal:

Lloyd’s created its City Risk Index to study gross domestic product exposure over a ten-year period. All told, the risk for the 301 U.S. cities studied is $4.7 trillion.

The index analyzes risks faced from 18 manmade and natural threats.

So, where did The Big One place on the list?

Earthquake comes in way down at eighth on the list, at $0.30 billion, just above solar storm and power outage. It lands below the financial risk from volcano (sixth, $0.72 billion) and drought (seventh, $0.54 billion).

(SOURCE: OregonLive.com)

Read the study here.

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