Monday, October 14, 2013

CT Rail Mishap Takes $62M Chunk Out of State Economy


A recent 12-day disruption to train service between Stamford and New York City cost Connecticut's economy $62 million, according to an analysis released by the state's Department of Economic and Community Development.

First obtained by the Associated Press, the analysis by Mark Prisloe, an associate economist at DECD, concludes that the gross state product took a $62 million hit, that the service disruption resulted in lost productivity equivalent to 260 jobs, and that the state lost $2.5 million in revenue during the 12 days.

The analysis utilizes an estimation method developed by Regional Economic Models Inc.

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