As states ravaged by Hurricane Idalia commence their cleanup efforts, a new estimate predicts that the storm will result in damage and lost economic activity totaling between $12 billion and $20 billion. The hurricane, which made landfall on Wednesday and claimed the lives of two people in Florida, caused significant flooding, property damage, and disruption to power lines and trees. Coastal counties in the state’s Big Bend region, including Tampa and Charleston, were particularly affected by the destructive winds, heavy rain, and storm surge.
Moody’s Analytics analyst Adam Kamins states in a report that the majority of the losses can be attributed to property damage. He highlights the challenge faced by affected areas in quickly recovering, especially with the extensive flooding that took place. An image of the aftermath in Horseshoe Beach, Florida, depicts debris in the canal, emphasizing the scale of the destruction caused by Hurricane Idalia.
Despite the significant impact, Idalia is not expected to rank among the most devastating hurricanes in U.S. history. Factors such as the lower population density and fewer buildings in the affected counties compared to other parts of Florida impacted by major hurricanes played a role in mitigating the overall damage. Additionally, the rapid movement of Idalia allowed it to dissipate over the sea before fully submerging the affected areas.
The Big Bend area, spanning from Florida’s Panhandle to the communities along the peninsula, including Tallahassee, experienced the brunt of the storm. A video highlights the drenching rains brought by Tropical Storm Idalia, leading to flood warnings in the Carolinas.
For comparison, Hurricane Maria in 2017 caused approximately $90 billion in property damage, while the losses from Hurricane Katrina in 2005 are estimated at $75 billion.
President Biden is scheduled to visit Florida on Saturday and has declared a disaster in the state, enabling affected residents to receive federal aid. This support will be crucial in assisting the recovery efforts.
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