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LA wildfires caused an estimated $53.8 billion in property damages, according to new study
The aftermath of the Palisades Fire, as clean-ups and infrastructure repairs begin, in Pacific Palisades, on Jan. 14, 2025.
(
Ted Soqui
/
CalMatters
)
Topline:
The wildfires that ravaged the L.A. region this year are estimated to have caused between $28 billion and $53.8 billion in property damages and may lead to tens of thousands of jobs being lost, according to a new study.
Why now: The report, released Thursday by the Southern California Leadership Council and the Los Angeles County Economic Development Corporation, also estimates up to nearly $9 billion in economic losses in L.A. County alone over the next five years.
Why it matters: L.A. County Supervisor Kathryn Barger, a co-chair of the council, said during a news conference that it’s the “ first comprehensive analysis of the true cost of the wildfires.”
The backstory: The Palisades and Eaton fires, which both broke out on Jan. 7, made up a majority of the losses out of the nine fires that started last month.
More than 20,200 properties and businesses were affected within the burn areas, according to the study, more than half of which were from the Palisades Fire. The Eaton Fire accounted for a little less than half, with a small percentage from the other smaller fires.
What's next: Stephen Cheung, CEO of Los Angeles County Economic Development Corporation, said recovery is really dependent on speed. “ As we're seeing with [previous] other fires, the recovery process is not gonna be overnight, it's going to be years,” he said. “So we really have to pace out the process, but at the same time allocate enough staffing and resources so that we have the ability to actually coordinate in the long run.”
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Go deeper: Wildfire victims may get grants up to $18K under LA County’s new relief program
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