The analysis by Anderson Economic Group economists focuses on lost earnings due to smoke and particulate matter from recent wildfires in Canada and Minnesota impacting states from Indiana to Maine.
It shows over $5 billion income losses in New York, $2 billion in Wisconsin and $4 billion in Michigan.
That's according to Patrick Anderson, principal and CEO of the East Lansing-based
firm.
“It's a significant loss already to us, and that's due to our reliance on tourism, agriculture, and other industries that require people to go outside... You can't have an outdoor-oriented economy where you suddenly tell people it's hazardous to come and not suffer losses.”
The firm identified the closure of amusement parks, health clubs, public parks, the cancellation of outdoor events from fairs to entertainment and sports venues, the impact of warnings about being outside and the reports of outdoor workers needing medical attention.
Anderson says the $4 billion impact on Michigan is a conservative estimate.
“We're not counting indirect effects. We're not counting reputational effects. We're not counting health effects for which it's hard to put a number on. But all those are quite possible out there, and if we have more episodes like this, it will definitely hurt Michigan’s status as a very desirable place to vacation, to take a long weekend, and it will hurt our agriculture as well.”
The report is available on the Anderson Economic Group website.
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