Binh H. Nguyen 4 p.m., June 30
Power Outage Cost Local Economy $100 Million
The National University System Institute for Policy Research estimates that the power outage of September 8 and 9 conservatively sucked $97 million to $118 million out of the local economy.
The calculation is based on these estimates: length of disruption 13 hours; average length of disruption 9 hours, and number of customers impacted 2 million.
The institute estimates that perishable food losses were $12 million to $18 million; government overtime $10 million to $20 million, and lost productivity about $70 million.
However, many of the productivity losses will be recouped in the future, says the institute.
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