A new National Institute of Building Sciences study on hazard mitigation found that updated building codes produce significant benefits.
The NIBS report found that adopting the 2018 International Codes (I-Codes) generates a national benefit of $11 for every $1 invested and saves lives. The I-Codes are the most widely used and adopted set of building safety codes worldwide.
The national mitigation benefit-cost ratio associated with code adoption is $6 to $1 for floods, $10 to $1 for hurricanes, and $12 to $1 for earthquakes. The quantified benefits are the result of avoided injuries and deaths, reduced post-traumatic stress, lower property damage, fewer business interruptions, and reduced insurance premiums.
Communities that consistently meet the latest editions of the I-Codes have added 30,000 new jobs to the construction-materials industry. The NIBS report also found that adoption of the 2015 International Wildland Urban Interface Code provided a $4 to $1 mitigation benefit against wildfire risk.
Related Stories
Codes and Standards | Sep 22, 2016
Construction firms pulling back from federal market due to new reporting rules
‘Subjective, very vague’ policies are said to create too much risk.
Codes and Standards | Sep 21, 2016
Airbnb presents legal liability for multifamily owners
How building owners can reduce risks.
Codes and Standards | Sep 21, 2016
Healthy buildings becoming a key design priority for both architects and building owners
Nationwide survey finds nearly three of four architects cite health impacts influencing design decisions
Data Centers | Sep 19, 2016
New ANSI/ASHRAE data center standard is performance-based, more flexible
The aim of the standard was to ‘not stifle innovation.’
Codes and Standards | Sep 16, 2016
Calm weather tidal flooding impacting several communities on East and Gulf Coasts
Local officials face the prospect of costly mitigation projects.
Codes and Standards | Sep 15, 2016
OSHA appoints new director for its construction directorate
The forty-year industry veteran has been a GC and business owner.
Energy | Sep 13, 2016
Oberlin College to hold conference on post-fossil fuel economy
The gathering will address climate change and new sources of energy.
Industry Research | Sep 12, 2016
Evidence linking classroom design to improved learning mounts
A study finds the impact can be as much as 25% per year.
Legislation | Sep 8, 2016
Half of U.S. states now allow design-build on public projects
Missouri is the latest to enact design-build legislation.
Codes and Standards | Sep 8, 2016
Vapor intrusion risk addressed in new ASTM guide update
The updates address industry confusion over how to handle the issue.