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Economic impact of Key bridge collapse assessed in Maryland – AFRO American Newspapers

March 28, 2024
in Business
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By Megan SaylesAFRO Enterprise Reporter

As harm from the collapse of the Francis Scott Key Bridge is assessed, leaders at the moment are questioning the incident’s implications for Maryland’s economic system. 

“Regionally, and even internationally, persons are getting a real-time lesson on the significance of the Baltimore Port,” stated Mark Anthony Thomas, president and CEO of the Higher Baltimore Committee (GBC). “Once we noticed the accident, initially, we didn’t assume the port could be shut down indefinitely. Now, we’re studying that it’s going to have an extended affect on our economic system. We simply don’t understand how dramatic that will probably be.” 

The Port of Baltimore contributes almost $3.3 billion in whole private revenue to the native economic system and generates greater than $395 million in taxes and $2.6 billion in enterprise revenue. It helps greater than 15,000 direct jobs and over 139,000 associated jobs. Practically 1,800 ships go to the marina annually. 

Nationally, the Port of Baltimore ranks primary for vehicle shipments. Within the face of the current disaster, vessel site visitors will probably be suspended till additional discover. Thomas stated there’s an instantaneous want to revive the port’s operations.  

“It serves as a serious thoroughfare for automobiles,” stated Thomas. “Any a part of the United State’s provide chain that’s disrupted creates a ripple impact in different areas.”

Drivers are urged to make use of I-95 and I-895 tunnels as various routes to the Key Bridge. As a reminder, MDTA officers are imploring drivers to do not forget that autos transporting hazardous supplies are prohibited in tunnels. In keeping with the MDTA, these drivers “ought to use the western part of I-695 round tunnels. This contains autos carrying bottled propane fuel in extra of 10 kilos per container (most of 10 containers), bulk gasoline, explosives important quantities of radioactive supplies.”

The Francis Scott Key Bridge opened in 1977, in accordance with info launched by MDTA, and was “the third longest steady truss bridge on this planet. With the primary span stretching 1,200 ft.” 



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Tags: AfroAmericanassessedBridgeCollapseEconomicImpactKeyMarylandNewspapers
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