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How Much Will Climate Change Cost the Southwest?

Date Posted: 
July 28, 2010
Publisher: 
Sandia National Laboratory

Sandia National Laboratory has released a new analysis that projects the near-term monetary impact of future precipitation change across the United States. Using the range of projected precipitation changes from the 2007 IPCC report, researchers modeled how future precipitation variability will harm or benefit 70 different industries in each of the conterminous 48 states from 2010 to 2050. Based on the impact of precipitation on industry, employment, and personal income, the model indicates that most states will see a decrease in GDP and employment.  The results for Southwestern states are mixed: California and Colorado are among the few states that could benefit from future changes in precipitation, as people migrate to these states from drought-stressed regions. However, Arizona, New Mexico, and Texas will see major reductions in jobs and population. Overall, the impact of future precipitation changes on the U.S. will result in $1 trillion drop in GDP and 7 million lost jobs.

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