The economic effects of Hurricane Harvey on the state of Texas were evaluated by the Texas Comptroller of Public Accounts shortly after the hurricane hit eastern Texas in late August 2017. The Texas Comptroller used a 70-sector, 24-region REMI model to calculate the effect of losses and gains on projected gross state product for the duration of the time period chosen for this analysis. The assessment found that the diversity and resiliency within Texas’s economy will help protect the state from the impacts of Hurricane Harvey. Researchers identified that the quick recovery times for businesses, in addition to the investments made by communities and businesses to rebuild, will counteract the negative economic impact of lost productivity and damage to structures. Even upon the completion of this report, the Texas Comptroller, Legislative Budget Board, and Governor’s office are continuing to monitor revenues and expenditures related to the devastating hurricane.
Texas Comptroller of Public Accounts – A Storm to Remember: Hurricane Harvey and the Texas Economy [full PDF]