9/11 Economics
As a direct result of the September 11th terrorists attacks the city of New York has suffered from staggering economic loses. The United States government, immediately, allocated 20 billion dollars towards the cleanup process, but the state authorities continue to calculate the astronomical absence of income suffered from the attacks, also. It is estimated that another 20 billon dollars will be needed to compensate the families of the deceased, and rebuilding New York Cities? office of emergency management.
Lower Manhattan was quartered off from the rest of the city for the first three weeks after the incident to remove the debris and human remains. After this three week period, Downtown Manhattan, gradually, became accessible for the businesses and residents to return. The businesses and the residents of lower Manhattan returned to a chaotic environment. There was also a sharp decline in economic activity. Revenues from daily activity in Manhattan such as tourism, parking meters, and real estate were nonexistent. Officials are estimating the loss from unused parking meters and traffic fines to approximately be 1 million dollars a day.
The total to rebuild the area is calculated at fourteen million dollars. New York
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