losses

Wildfires Put Nearly 2 Million Homes At Extreme Risk Of Property Losses

Nearly 2 million homes with a reconstruction cost value of more than $638 billion are at an elevated risk of wildfire damage this year, according to a new report by data analytics provider CoreLogic.

This wildfire season is well on its way to setting a record for one of the most destructive years for wildfires in recent memory, and the pandemic is creating additional complications, according to the report, which provides insights into single-family and multifamily residential properties at risk of damage from wildfires in the United States.

The devastating wildfires raging across the Western United States have left homeowners facing the challenge of starting from scratch. With disruptions to the supply chain for raw materials, manufacturing and transportation, the resulting hit to reconstruction efforts could be further challenged.

There is no state that is completely free from wildfire risk, but CoreLogic’s wildfire data indicates that over the past two years, approximately 96.4% of the total acreage burned in the United States was in 13 fire-prone Western states, plus Alaska and Florida. These 15 states are the most susceptible and have an expectation of severe property losses due to wildfire.  

Alaska, due to its size and concentration of forested area, accounts for a large segment of total wildfire acreage each year. And Florida, even with higher levels of humidity and rainfall, tends to experience a relatively large share of wildfire activity.

As the nation’s population increases and residential development extends farther from metro areas, more homes and businesses will face the threat of wildfires. 

The Los Angeles metro area tops the list of metropolitan areas with the greatest single-family residences at wildfire risk, followed by the Riverside and San Diego metro areas. California

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Colorado Springs military contractors mostly untouched by COVID job losses | Colorado Springs News

Even as the COVID-19 battered the Colorado Springs economy, costing tens of thousands of jobs, the defense contracting industry stayed strong.

Why? Thank U.S. Space Command and the new Space Force, at least in part. The arrival of the joint command, the creation of the new military branch and a greater emphasis on space have triggered a major wave of growth for local defense contractors.


Competitors in 25 states woo U.S. Space Command, but local leader remains confident

Industry officials say the defense industry is thriving in Colorado Springs, where more than a third of the local economy depends on military spending, because the U.S. Space Command is based at Peterson Air Force Base, at least temporarily, and much of the operations of the new Space Force also are spread across area bases.

“The opportunity (from U.S. Space Force and U.S. Space Command) is on par with when NorthCom (U.S. Northern Command) was stood up almost 20 years ago,” said David Fuino, who directs the multi-domain battle management program at Raytheon Technologies and is the company’s top executive in Colorado Springs. “While the powers that be will make the decision on the ultimate home for U.S. Space Command, everything points to a lot of business being done here in the next five years. There will be more than 1,000 government personnel and all the contracting activity goes well beyond that.”


Colorado Springs’ effort to keep U.S. Space Command hits high gear

Reggie Ash, chief defense development officer for the Colorado Springs Chamber & EDC, said the U.S. Space Command headquarters brings more than 1,400 additional troops to the area and also huge contracting opportunities. He said a combined command, meaning one than spans all military services, will “result in significant growth in the surrounding community, which is what we saw

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Colorado Springs military contractors mostly untouched by COVID job losses | Business

Even as the COVID-19 battered the Colorado Springs economy, costing tens of thousands of jobs, the defense contracting industry stayed strong.

Why? Thank U.S. Space Command and the new Space Force, at least in part. The arrival of the joint command, the creation of the new military branch and a greater emphasis on space have triggered a major wave of growth for local defense contractors.


Competitors in 25 states woo U.S. Space Command, but local leader remains confident

Industry officials say the defense industry is thriving in Colorado Springs, where more than a third of the local economy depends on military spending, because the U.S. Space Command is based at Peterson Air Force Base, at least temporarily, and much of the operations of the new Space Force also are spread across area bases.

“The opportunity (from U.S. Space Force and U.S. Space Command) is on par with when NorthCom (U.S. Northern Command) was stood up almost 20 years ago,” said David Fuino, who directs the multi-domain battle management program at Raytheon Technologies and is the company’s top executive in Colorado Springs. “While the powers that be will make the decision on the ultimate home for U.S. Space Command, everything points to a lot of business being done here in the next five years. There will be more than 1,000 government personnel and all the contracting activity goes well beyond that.”


Colorado Springs’ effort to keep U.S. Space Command hits high gear

Reggie Ash, chief defense development officer for the Colorado Springs Chamber & EDC, said the U.S. Space Command headquarters brings more than 1,400 additional troops to the area and also huge contracting opportunities. He said a combined command, meaning one than spans all military services, will “result in significant growth in the surrounding community, which is what we saw

Continue Reading