The Economic Costs of Disruption from a
Widespread Snowstorm in Minnesota
The purpose of this study was to simulate the economic losses of economic activity that would accompany a shutdown of activities in Minnesota, due to a snowstorm. The impact numbers are presented below and a detailed description of DRI’s methodology is provided in the Appendix.
Economic Impact of a One Day Shutdown in Minnesota
Wages & Salaries |
Economic Impact
|
| Direct | 28.28 |
| Derived | 37.9 |
| Total | 66.18 |
| State & Local Taxes | |
| Direct | 3.51 |
| Derived | 4.7 |
| Total | 8.21 |
| Federal Taxes | |
| Direct | 7.27 |
| Derived | 9.74 |
| Total | 17.01 |
| Retail Sales | |
| Direct | 13.04 |
| Derived | 14.04 |
| Total | 27.08 |
Direct Impact: The direct impact represents all of the income
lost on the day of the storm, which was not recouped after the
state returned to normal operations.
Derived Impact: The derived impact represents all of the sectors
of the economy that would have achieved economic benefit
from income that was lost due to a snowstorm. The derived impact does not include the
direct impact.
It should be noted that given the size of the state and contemporary measures for dealing
with snow removal, it is unlikely that a
snowstorm would completely shut down the entire state. The statistics in this report,
however, provide an order of magnitude
associated with significant statewide disruption due to a major snowstorm should remedial
actions not be undertaken.
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