An Economic Analysis of Flood Damage Reduction Alternatives in the Minnesota River Basin

This study explores the economic implications of flooding in the Minnesota River Valley and the various alternatives for flood-damage reduction: do nothing, delimit new development in flood-hazard areas, evacuate flood-prone areas, build local protection works, construct a series of large reservoirs, improve transportation river-crossings. The author provides background on state and federal legislation affecting Minnesota flood-control policy, as well as the methodology behind this study's economic analyses. Costs and incidence of flooding in the valley are calculated, the six flood-control alternatives are analyzed for cost and feasibility, and recommendations are made.