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Quick Response Report #140 - The Terrorist Attacks on September 11, 2001: Immediate Impacts and Their Ramifications for Federal Emergency Management

Tags: (2001), 9/11, and, b., claire, emergency, for, ramifications, responders, rubin, the on 2006-08-01 -All Annotations (0) -About

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BCM for Civil Emergency Responders
post by wayneharrop on 2006-08-01

Citizens have become more aware of their public officials and how they conduct emergency management at each level of government.
The $126 billion commercial insurance industry is facing a $30 billion payout. This industry will never quite be the same, since insurers and reinsurers had never considered terrorism when pricing their premiums. The uncertainty about how to predict the future attacks is a huge challenge for the insurance industry.
he New York City comptroller estimated the "lost human productive value" to be about $11 billion.
The best and brightest from around the world are drawn to New York because it is where they can do their finest work and reap the highest rewards. In the short run, the September 11 attack will add a $500 billion blow to a city economy already stumbling from the bear market on Wall Street and the nationwide slump
Companies like Morgan Stanley, by far the World Trade Center's largest tenant with 3,700 employees (all but 15 unaccounted for), was fully operational less than 48 hours after the tragedy. Remarkably, Cantor Fitzgerald lost 680 of its 1,000 employees but was operational for bond trading two days after the attacks.⁹
Built in 1970, the World Trade Center housed more than 430 companies from 28 countries. They were engaged in a wide variety of commercial activities, including banking and finance, insurance, transportation, import and export firms, customs brokerage, trade associations, and representatives of foreign governments. An estimated 50,000 people worked in the World Trade Center and another 140,000 visited the complex daily.
Another unusually large cost in New York City was related to dealing with the immense amount of debris over the multi-acre area disaster site. The debris had to be sorted first for human remains and evidence and later deposited in a land fill. The New York City controller predicted that it would cost $14 billion just to clean up and police the site.
Going beyond the infrastructure costs in New York City, there were equipment and related losses–such as fire trucks, thousands of computers, furniture, and other equipment items–that disappeared with the towers. Early estimates suggested that anywhere between $2 to $5 billion worth of telecommunications and computer equipment was destroyed. The total property loss was estimated at $34 million, according to the New York City Comptroller Alan Hevesi. That is nearly twice the $16.8 billion record set by 1992's Hurricane Andrew⁷.
In New York City, a significant amount of infrastructure was ruined in and around the neighborhood of the World Trade Center Complex, including a crushed subway station, plus the loss of five phone-switching stations, two electrical substations, 300,000 telephone lines, and 33 miles of cable⁶. It has been estimated that replacing the destroyed subway lines would cost around $3 billion and that utility repairs, including 300,000 telephone lines, one phone switching station, and six miles of electrical cable are estimated to cost $2 billion. Additionally, rebuilding the PATH New York/New Jersy station below the World Trade Center would be about $2.4 billion. The estimated total cost for replacing the basic infrastructure is $7.4 billion.
It is a challenging task to calculate the overall costs of September 11 attacks. The destruction of the World Trade Center obliterated about 12 million square feet of Class A office space, which is the equivalent of all office space in Atlanta or Miami⁵. An additional 18 million square feet of office space in downtown Manhattan was damaged.
In New York City, initial efforts on the part of local federal regional offices to deal with emergency response were hampered by damage to the city's emergency operations centers. New York City had recently completed a multi-million dollar state-of-the-art emergency operations center; but it was housed in one of the World Trade Center buildings that was totally destroyed. The State of New York seemed to fare better.
In Arlington, Virginia, the response relationships appeared to be efficient and effective, since the Arlington County Fire Department and Pentagon officials had worked with each other and conducted response exercises prior to September 11.

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Quick Response Report #140 - The Terrorist Attacks on September 11, 2001: Immediate Impacts and Their Ramifications for Federal Emergency Management

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