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Does resilience yield dividends? Co-benefits of investing in increased resilience in Cedar Rapids

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  • Juan F. Fung
  • Jennifer F. Helgeson
  • David H. Webb
  • Cheyney M. O'Fallon
  • Harvey Cutler

Abstract

Cedar Rapids, IA, offers a unique case study in planning for increased resilience. In 2008, Cedar Rapids experienced severe flooding. Rather than simply rebuilding, the city of Cedar Rapids began to invest in a resilient flood control system and in the revitalization of its Downtown neighborhood. This paper develops a Computable General Equilibrium (CGE) model for the regional economy of Cedar Rapids to quantify ‘resilience dividends’: net co-benefits of investing in increased resilience. A resilience dividend includes benefits to the community even if another disaster does not occur. We build a CGE model of Cedar Rapids at two different time periods: one in 2007, before the flooding, and one in 2015, after the flooding and initial investment in resilience. We show that a positive economic shock to the economy results in larger co-benefits for key economic indicators in 2015 than in 2007. Our approach illustrates how co-benefits are distributed throughout the economy.

Suggested Citation

  • Juan F. Fung & Jennifer F. Helgeson & David H. Webb & Cheyney M. O'Fallon & Harvey Cutler, 2021. "Does resilience yield dividends? Co-benefits of investing in increased resilience in Cedar Rapids," Economic Systems Research, Taylor & Francis Journals, vol. 33(3), pages 336-362, July.
    • Handle: RePEc:taf:ecsysr:v:33:y:2021:i:3:p:336-362
    DOI: 10.1080/09535314.2020.1798359
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