IHS Global Insight, a Boston-based economics consulting firm, found that states can lose hundreds of millions of dollars in economic opportunity for each day roads are impassable.
The study examined the economic impact of snowstorms in 16 U.S. states, including indirect economic impacts of lost tax revenue, and losses in the restaurant, general merchandise and service station industries. Among its findings:
• A 1-day snowstorm can cost a state between $300 million to $700 million in both direct and indirect costs.
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