According to a Global Insight study:
• A one-day major snowstorm can cause a state $300-$700 million in direct and indirect costs.
• The economic impact of snow-related closures far exceeds the cost of timely snow removal.
• Snow related shutdowns harm hourly workers the worst.
Recently, the American Highway Users Alliance commissioned a study of the economic costs caused by the paralysis or congestion due to failed snowfighting efforts. The study found that “hundreds of millions of dollars in economic opportunity are lost each day that a state is shuttered by impassable roads.” James Gillula, Managing Director of Global Insight and the principal researcher of the study said that, “Lost wages of hourly workers account for about two-thirds of the direct economic impact of a major snowstorm. Among all workers, hourly wage workers can suffer the most painful economic losses and the indirect economic effects of their lost wages can ripple through the economy.” Here is the surprising report…economic-costs-of-snowstorms