Abstract
On 22 February 2011, Canterbury and its largest city Christchurch experienced its second major earthquake within six months. The region is facing major economic and organisational challenges in the aftermath of these events. Approximately 25% of all buildings in the Christchurch CBD have been “red tagged” or deemed unsafe to enter. The New Zealand Treasury estimates that the combined cost of the February earthquake and the September earthquake is approximately NZ$15 billion [2]. This paper examines the national and regional economic climate prior to the event, discusses the immediate economic implications of this event, and the challenges and opportunities faced by organisations affected by this event. In order to facilitate recovery of the Christchurch area, organisations must adjust to a new norm; finding ways not only to continue functioning, but to grow in the months and years following these earthquakes. Some organisations relocated within days to areas that have been less affected by the earthquakes. Others are taking advantage of government subsidised aid packages to help retain their employees until they can make long-term decisions about the future of their organisation. This paper is framed as a “report from the field” in order to provide insight into the early recovery scenario as it applies to organisations affected by the February 2011 earthquake. It is intended both to inform and facilitate discussion about how organisations can and should pursue recovery in Canterbury, and how organisations can become more resilient in the face of the next crisis.
Highlights
Canterbury businesses are facing a very challenging postearthquake recovery climate
The 4 September earthquake epicentre was located 40 km west of Christchurch, at a depth of 11 km, whereas the 22 February earthquake epicentre was much closer to central Christchurch and at a depth of only 5 km
The Mw 6.3 earthquake produced peak ground accelerations in the Christchurch Central Business District (CBD) that were 2.5 times greater than the accelerations felt during the Mw 7.1 September earthquake [4]
Summary
At 12:51pm on 22 February, Christchurch was shaken by a shallow Mw 6.3 earthquake centred approximately 10 km south-east of the Christchurch Central Business District (CBD) resulting in significant impacts on people, buildings, and infrastructure. This event came at a time when the region’s businesses were still struggling to recover from the Mw 7.1 earthquake which hit on 4 September, 2010 (shown in Figure 1) [3]. Prior to these earthquakes, Christchurch had experienced relatively low seismicity during the previous 100 years. The paper will focus on the impacts that manifested in the month (22 February to 22 March, 2011) following the earthquake, in order to provide a detailed short term snap-shot of the economic impacts
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