Maryland legislators are taking steps to protect workers and businesses affected by the port and highway closure. There are broader, indirect effects, however, that are creating additional uncertainty.
In Brief:
- The now-crippled Port of Baltimore is responsible for 15,000 direct jobs and 140,000 indirect jobs and brings in over $70 billion in revenue every year.
- Baltimore is bracing for losses in tax revenues and fees, while regional inflation is expected to spike after the bridge’s collapse.
- Analysts caution that the disaster’s lasting economic impact will be in how workers and small businesses in communities around the port fare.
governing.com
April 18, 2024 • Zina Hutton