Portland resilient runway benefit-cost analysis

The reports examine the benefit-cost analysis of seismically strengthening Portland International Airport's (PDX) south runway against earthquake damage. Oregon faces a significant probability of a magnitude-8.7 or greater earthquake within the next 50 years, which could cause catastrophic damage across the Pacific Northwest. The resulting ground liquefaction could severely damage PDX's runways, with repairs potentially taking nearly a year. The Port of Portland engaged the National Institute of Building Sciences (NIBS) to estimate the financial benefit of the project, concluding it yields a 25:1 benefit-cost ratio, roughly $25 saved for every $1 invested.

The findings show total estimated savings of $12 billion (in 2030 USD) against a construction cost of approximately $460 million. The largest share, 78%, or $9.3 billion, comes from enabling certified building safety evaluators to reach Portland quickly by air, helping up to 600,000 damaged buildings be assessed and reoccupied sooner. An additional $2.0 billion would be saved by avoiding business interruption losses tied to PDX's air operations, which support a regional economy of $330 billion in gross product. Health and medical benefits from enabling medical evacuations account for roughly $750 million, with up to 1,600 lives potentially saved, while reduced runway repair costs add another $7 million. Not included in the ratio is an estimated additional $280 million in national defense value from protecting the mission of the 142nd Fighter Wing of the Oregon Air National Guard.