Atlantic Canada’s economy to take a hit from tropical storm

While the damage caused by post-tropical storm Fiona is still being assessed across Atlantic Canada, it’s become clear the economic fallout will be substantial for some parts of the region.

Elmwood, P.E.I., potato farmer Alex Docherty estimates his farm suffered losses of about $500,000 following the weekend’s storm. In an interview on Sep. 26, Docherty said three of his storage buildings were destroyed by hurricane-force winds, as were the barns of several nearby farmers.

“If a bomb went off, I don’t know whether it would do any more damage,” Docherty, owner of Skyview Farms, said. “On my road within a mile of me there’s nine barns down — you’d swear it’s a war zone.”

The storm made landfall as farmers were getting ready to harvest their potato crops, he said. The ongoing blackouts across many parts of the province, he added, risk causing storage problems because the potatoes need to be kept cool.

The Island’s agriculture industry is facing a “huge” hit, Docherty said.

Premier Dennis King said that while it’s too early to know the extent of the economic fallout caused by Fiona, it’s expected to be major given the damage to the farming and fishing industries and to a number of businesses, which have been forced to close.

“We will measure it in the millions I’m quite sure,” King said in a briefing on Sep. 26.

The premier said there has been significant damage to some mussel and oyster farming operations and he’s waiting to hear about the state of lobster traps. In agriculture, “soybeans and corn took a beating and our apple farms have as well,” King said.

In a video news conference on Sep. 26, Nova Scotia Premier Tim Houston said it’s anticipated the economic damage from Fiona will be greater than previous storms. Houston also announced about $40 million in provincial aid to people directly affected by the storm.

Paul Kovacs, executive director of the Institute for Catastrophic Loss Reduction at Western University, said the benchmark for destruction in the region is the $200 million worth of insurable losses caused by hurricane Juan in 2003.

Kovacs believes it’s time there was a conversation involving governments about what can be done to better prepare for increasingly violent storms linked to climate change. He said research has shown that building stronger, wind-resistant homes, for instance, can make a difference. Kovacs said the state of Florida changed its building code 15 years ago to impose tougher construction standards.