PT  - JOURNAL ARTICLE
AU  - Simmons, Kevin M.
AU  - Czajkowski, Jeffrey
AU  - Done, James M.
TI  - Economic Effectiveness of Implementing a Statewide Building Code: The Case of Florida
AID  - 10.3368/le.94.2.155
DP  - 2018 May 01
TA  - Land Economics
PG  - 155--174
VI  - 94
IP  - 2
4099  - http://le.uwpress.org/content/94/2/155.short
4100  - http://le.uwpress.org/content/94/2/155.full
SO  - Land Econ2018 May 01; 94
AB  - Hurricane Andrew revealed inadequate construction practices were utilized in Florida for decades. In response, Florida adopted a new statewide code—the 2001 Florida Building Code (FBC)—which became one of the strictest in the nation. We use 10 years of paid insured loss data to show that the FBC reduced windstorm losses by up to 72%, then use our results to conduct a benefit-cost analysis (BCA). The FBC passes the BCA by a margin of $6 in full reduced loss to $1 of added cost, with a payback period of approximately 8 years. (JEL Q54, Q58)