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  • Katy Area EDC releases Hurricane Harvey Business Impact Survey results

    October 12, 2017
    Following Hurricane Harvey, the Katy Area Economic Development Council formulated a business impact survey to gain a better understanding of the effects of Harvey on Katy area businesses.  The survey was conducted in cooperation with Katy Area EDC partner organizations including Caleb Insurance Group, Energy Development Council, Katy Area Chamber of Commerce, Rotary Club of Katy and The Katy News. 

    In total, over 80 companies representing 10,000+ employees responded to the voluntary survey.  A diverse set of industries completed the survey with a large number of respondents coming from the professional, scientific and technical services sector.  According to the survey, 28% of companies said nothing significant occurred as a result of the storm.  In total, 54% of respondents were closed for only 1-3 days and 23% closed for 4-6 days.  A majority of businesses cited the main reasons for closure as the inability to get to the facility and insufficient staffing. 

    Survey respondents were also asked about damage sustained.  According to the data collected, roughly 70% of businesses sustained no damage.  For those businesses which sustained damage, more than 80% of companies have business insurance and 37% have business insurance to cover flood losses.  Over 90% of respondents are not planning to register with FEMA and are not planning to seek a disaster recovery loan. 

    Immediately following the storm, roughly three quarters of respondents stated they were able to receive materials, services and supplies to quickly re-open.  Of those businesses which were damaged, most indicated they are currently back to normal operations with no need for major assistance.  Only 1% of responding businesses have been forced to permanently close as a direct result of Hurricane Harvey.
    In terms of impact on the workforce of responding companies, 34 companies had less than 10% of its workforce negatively impacted and roughly seven of the 80+ responding companies had a large number of its workforce negatively impacted.  A majority of companies had less than five employees adversely impacted by the storm.

    “We greatly appreciate the companies that responded to our survey,” said Katy Area EDC President/CEO Lance LaCour. “Moving forward, Katy Area EDC will be working closely with impacted business to do what we can do assist the recovery process.”

    For a full summary of survey results, click here.  Should you have any questions regarding the survey or be in need of business recovery assistance, please visit katyedc.org or call 281-396-2200.
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