There is a compelling business case for the Southeast Florida region to make significant investments in resilient infrastructure now, according to a new report published by the  Urban Land Institute (ULI).  The Business Case for Resilience in Southeast Florida report, commissioned by the Southeast Florida Regional Climate Change Compact, is based on a regional economic assessment conducted by AECOM. The report was launched at the Compact’s virtual Climate Leadership Summit on October 13, 2020. The analysis explores the economic risks to the region due to rising sea levels without adaptation and identifies economic opportunities associated with resilient investments.

“This study represents an impressive collaboration of public and private sector partners who share in their commitment to the well-being and vitality of the region. It provides a powerful economic analysis reinforcing the value of coordinated action and system-wide resilience strategies, with recommendations focused on multi-sector engagement, community, equity, and opportunity,” said Dr.  Jennifer Jurado, Broward County's Chief Resilience Officer and Deputy Director of the Environmental Protection and Growth Management Department. “I expect the Business Case for Resilience for Southeast Florida study will mark a foundational milestone, spurring broader, even more deliberate action by our community leaders, as well as the public, and helping to scale the investments needed to both shape and inspire our future.”

The study provides a clear foundation for continued regional work and the importance of collaboration across governments, and across the public and private sectors.

“Together, we can address the challenges of more frequent flooding and sea level rise and grow our economy at the same time. We know we must adapt as a region, and this study shows that adaptation is also a smart business move. Bringing the private sector to the conversation has created a partnership that can only benefit the region,” said Dr. Alec Bogdanoff, Principal of Brizaga, who also served as the local project manager on behalf of ULI.

For both the private and public sector, developing an understanding of the economic consequences from current and predicted coastal hazards is critical to inform decision-making around how to best protect the communities, businesses, and natural resources that make coastal communities in Southeast Florida a strong business environment and world-class destination for leisure.

“To ensure a vibrant and successful future for our region, it is imperative that the public and private sector unite in making a collaborative effort to resiliency adaptation. The Urban Land Institute is proud to be working to advance these efforts at a regional scale alongside the Compact and Resilient305 partners,” said Greg West, Governance Committee Chair, ULI SE Florida/Caribbean & CEO, ZOM Living.

The report summarizes findings from a high-level four-county economic analysis that leveraged standardized physical and economic data and applied regional and federal methodologies adapted for local conditions.

"This study is an example of the collaboration that is critical to furthering adaptation to climate change - inclusive of public and private sector involvement and regional participation" said Lauren Swan, Resilience Planning, AECOM.

The project was supported by a coalition of local partners, including Broward, Miami-Dade, Monroe, and Palm Beach Counties; the Florida Department of Environmental Protection; the Beacon Council Foundation; Broward Workshop; Community Foundation of Broward; Greater Fort Lauderdale Chamber of Commerce; and Greater Miami Chamber of Commerce.

About ULI

The Urban Land Institute is a global, member-driven organization comprising more than 45,000 real estate and urban development professionals dedicated to advancing the Institute’s mission of providing leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.
http://uli.org

About the Southeast Florida Regional Climate Change Compact

The Southeast Florida Regional Climate Change Compact (the Compact) is a partnership between Broward, Miami-Dade, Monroe, and Palm Beach counties, to work collaboratively to reduce regional greenhouse gas emissions, implement adaptation strategies, and build climate resilience across the Southeast Florida region. 
https://southeastfloridaclimatecompact.org/

About AECOM

AECOM designs, builds, finances, and operates infrastructure assets for governments, businesses, and organizations in more than 150 countries. As a fully integrated firm, AECOM connects knowledge and experience across our global network of experts to help clients solve their most complex challenges. A Fortune 500 firm, AECOM had revenue of approximately $20.2 billion during fiscal year 2019.

https://aecom.com

For more information please contact:
Julie Medley
Executive Director, ULI SE Florida/Caribbean
Julie.Medley@uli.org
954-817-9423