As the eastern United States battles winter storms and freezing wind chills, the western United States continues to face a devastating fire season. The Los Angeles wildfires have devastated the Golden State, burning over 19,000 acres. The economic impact of these fires has been drastic, with the flames causing approximately $53.8 billion in property damage based on market value and $28 billion based on recorded value, according to the Los Angeles Economic Development Corporation (LAEDC).
Beyond property damage, the fires have taken a toll on the region’s economy. Nearly 15,000 jobs have been impacted, costing an estimated $1.2 billion in lost wages. Additionally, more than 2,000 businesses have been affected, contributing to an estimated economic loss of $2.9 billion. The potential loss of tax revenue is $466 million due to the devastating fires. In response to the crisis, the California State Assembly passed a $2.5 billion emergency fire aid package.
https://apple.news/AakM5XFFpTQeIzAkLtzgaEQ
No comments:
Post a Comment