January 17, 2019
Adopting the 2018 International Codes generates a national benefit of $11 for each $1 invested and saves lives, according to a new study by the National Institute of Building Sciences (NIBS). The national mitigation benefit-cost ratio associated with code adoption ranges from $6 for each dollar invested for floods to $12 for each dollar invested for earthquakes. These benefits are a result of injuries and deaths avoided, lower property damage, fewer business interruptions, and reduced insurance premiums. The study also found that communities that meet the latest edition of the building code have added 30,000 new jobs to the construction-materials industry. To read more, click here.