The Economic Costs of Disruption from a
Widespread Snowstorm in Ontario
The purpose of this study was to simulate the economic losses of economic activity that would accompany a shutdown of
activities in Ontario, 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 Ontario
Wages & Salaries |
Economic Impact
|
| Direct | 47.11 |
| Derived | 63.13 |
| Total | 110.24 |
| Provincial | |
| Direct | 9.31 |
| Derived | 12.48 |
| Total | 21.79 |
| Federal Taxes | |
| Direct | 10.43 |
| Derived | 13.97 |
| Total | 24.4 |
| Retail Sales | |
| Direct | 26.53 |
| Derived | 19.45 |
| Total | 45.98 |
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 province and contemporary measures for
dealing with snow removal, it is unlikely that a snowstorm would completely shut down the
entire province. 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.
The Economic Costs of Disruption from a
Widespread Snowstorm in Ontario
The purpose of this study was to simulate the economic losses of economic activity that
would accompany a shutdown of
activities in Ontario, due to a snowstorm. The impact numbers are presented below in
Canadian and US dollars. A detailed
description of DRI’s methodology is provided in the Appendix.
Economic Impact of a One Day Shut Down
| Wages & Salaries
|
Economic
|
Impact
|
| $Can (millions) | $US* (millions) | |
| Direct | 47.11 | 34.50 |
| Derived | 63.13 | 46.23 |
| Total | 110.24 | 80.73 |
| Provincial | ||
| Direct | 9.31 | 6.82 |
| Derived | 12.48 | 9.14 |
| Total | 21.79 | 15.96 |
| Federal Taxes | ||
| Direct | 10.43 | 7.64 |
| Derived | 13.97 | 10.23 |
| Total | 24.4 | 17.87 |
| Retail Sales | ||
| Direct | 26.53 | 19.43 |
| Derived | 19.45 | 14.24 |
| Total | 45.98 | 33.67 |
*Calculated using average exchange rate for 1997
Direct Impact: The direct impact represents all of the income
lost on the day of the storm, which was not recouped after the
province 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 province and contemporary measures for
dealing with snow removal, it is unlikely
that a snowstorm would completely shut down the entire province. The statistics in this
report, however, provide an order of
magnitude associated with significant province-wide disruption due to a major snowstorm
should remedial actions not be
undertaken.
|
|
| [About Salt Institute] [About salt] [About the salt industry] [News] [SI Member Business (password required] [E-Mail Salt Institute] | |