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BusinessHurricane Idalia's $20 Billion Economic Impact: How Tech Is Shaping Recovery Efforts

Hurricane Idalia’s $20 Billion Economic Impact: How Tech Is Shaping Recovery Efforts

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“Hurricane Idalia Leaves $20 Billion in Damages and Flooding in Its Wake”

– Hurricane Idalia is estimated to have caused between $12 billion and $20 billion in damage and lost economic activity.
– The storm resulted in flooding, damaged homes, downed trees, and power lines, with the coastal counties in Florida’s Big Bend region experiencing the most significant impact.

Despite the destruction, Idalia is unlikely to be ranked among the most destructive hurricanes in U.S. history due to several factors. The affected counties have fewer people and buildings compared to other parts of Florida hit by major hurricanes. Additionally, the lower property values in the Big Bend region further contribute to suppressing costs. Idalia’s relatively fast movement allowed it to move out to sea before completely overwhelming affected areas.

Hurricane Maria in 2017 caused approximately $90 billion in property damage, while losses from Hurricane Katrina in 2005 were estimated at $75 billion.

President Biden is scheduled to visit Florida on Saturday, and the White House has declared a disaster in the state, making affected residents eligible for federal aid.

Source: CBS News (www.cbsnews.com)

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