Boston has been shutdown to facilitate the manhunt for Dzhokhar Tsarnaev. The security response to shutdown much of the City will cost millions of dollars as businesses are closed and public transportation is down.
According to Jim Diffley, a vice president and chief economist at IHS Global Insight state shutting don Boston for a day has steep costs.
The Boston metro area is reported to be the country’s ninth-largest and has aneconomy bigger than that of Greece, Singapore, Portugal, or Ireland, according to the Fiscal Times. According to Jim Diffley “Boston is a $1 billion-a-day metropolitan area.” Boston will have a loss of approximately $250 million and $333 million a day.
Picture by Mark Z