Economic Impacts Expected Following Collapse of Francis Scott Key Bridge


This week’s collapse of the Francis Scott Key Bridge in Baltimore could have an impact on Illinois farmers. A container ship slammed into the bridge early Tuesday, causing the bridge’s collapse. The Port of Baltimore is the main port for the import and export of vehicles and farm equipment. It’s also the main port for importing sugar, which could help farmers as companies switch to corn syrup and sweeteners.

Following the collapse Baltimore’s Francis Scott Key Bridge Tuesday, it’s unknown when the port of Baltimore will be reopening, but the economic impacts of the shutdown are beginning to come to light. Logistics experts say a broader economic impact would likely be limited because of the large number of alternate highways and seaports along the east coast. For the city of Baltimore, the economic impacts of the bridge collapse will hit harder and last longer. The Baltimore port directly employs over 15-thousand workers – many, of whom will be temporarily furloughed — and indirectly supports nearly 140-thousand jobs. According to economist, overall, any economic disruption from Tuesday’s bridge collapse will likely cycle through the economy in the next few weeks, and be unnoticeable by late April.

***Courtesy of Total Traffic News, Photo Courtesy of***

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