Cascadia earthquake could cause $32B in losses

The next Cascadia earthquake will kill thousands and cause more than $32 billion in losses to the Oregon economy, a state panel says.

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The next Cascadia earthquake will kill thousands and cause more than $32 billion in losses to the Oregon economy, a state panel says.

Buildings will be so severely damaged that restoring full utility service will take three months to a year in western valleys and far longer on the coast, the commission found. Businesses tend to move or fail if utilities aren’t up in a month.

“So Oregon faces a very real threat of permanent population loss and long-term economic decline,” said the report, which recommends 50 years of seismic upgrades and other investments — price tag incalculable.

Read more at OregonLive.com.

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