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Report: Boston Economy May Have Lost $250 Million Plus from Lockdown

An economist talking to Business Week said the city is typically a $1-billion-a-day metropolitan area.

CHARLESTOWN, MA -- How much does it cost to shut down a city for an entire day?

Bloomberg Business Week reports that price tag is somewhere in the range of $250 million to $333 million, citing a chief economist at IHS Global Insight.

The citywide shelter-in-place order was lifted shortly after 6 p.m. Friday, about 10 hours after the police lockdown was extended to the entire city of Boston.

As of 6:30 p.m., police continued to search for the remaining at-large suspect in Monday’s bombing at the Boston Marathon finish line, with heavy activity continuing in the greater Boston community of Watertown. The suspect was identified by authorities as 19-year-old Dzhokhar A. Tsarnaev.

While some businesses remained open during the lockdown, many didn't open at all or closed early, sending employees home several hours after the shelter-in-place was issued, once government officials announced it was OK to leave for home.

Dunkin’ Donuts shops in certain areas of the city remained open during the lockdown per direction from the city, the Huffington Post reported. Karen Raskopf, chief communications officer for Dunkin’ Brands, told the news site that the restaurants were asked to remain open “to take care of needs of law enforcement and first responders.”

Business Week reports that the Boston metro area is a “$1-billion-a-day metropolitan area,” but that some of that economic activity could continue under a lockdown with the aid of telecommuting and technology.

Other activities, such as grocery shopping, are simply shifted to another day.

But even with some business in the city lost because of the lockdown, the economic expert said he did not expect the event to have a lasting effect on Boston’s economy. He pointed to New York City and Washington, D.C., both of which were able to recover relatively quickly following the attacks on 9/11.

and15y April 20, 2013 at 10:42 PM
let the Muslims pay for it two of their own let them as a group share in the responsibility for a couple of billion they should be good for it and more than willing after all isn't that what the cost of war is all about paying for damages to people and things!
Matthew April 20, 2013 at 10:57 PM
Wow, what an incredibly ignorant statement. But considering the fact that you don't know how to use punctuation is a pretty solid indicator of your capacity for abstract though.
Matthew April 20, 2013 at 10:59 PM
LIke it or not, there is a huge economic factor to all of this. Yes, the biggest tragedy is the loss of life and limb. However, the monetary loss cannot be ignored. No one is saying it's "all about money". They are just acknowleding that it is a factor.
jean hogan April 21, 2013 at 08:12 AM
And, how much more could the city have lost if there had been no lock-down and potentially more lives lost as the police tried to capture this man as the city kept marching to the beat of its own drum. It would seem that the lock-down allowed the hunt to progress quite effectively and effeciently with no further loss of life.
Joel west April 21, 2013 at 03:17 PM
America should be alert and aware and homeland security look into heavy background checks on people coming into our country to do mass destruction god bless boston and heal us all from future attacks on our country and citys.god look over us and protect us from evil

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