Florida Line Getting Snowfall (Courtesy: Florida First Lady Casey DeSantis)

Historic Gulf Coast Winter Storm Causes Up To $17 Billion In Economic Loss

Florida Line Getting Snowfall (Courtesy: Florida First Lady Casey DeSantis)
Florida Line Getting Snowfall (Courtesy: FHSMV, FHP)

A once-in-a-generation winter storm that swept through the Gulf Coast and Southeast has resulted in an estimated economic loss of $14 billion to $17 billion, according to AccuWeather experts. The storm, which brought snow, sleet, ice, and an extreme cold outbreak, disrupted travel and business operations across the eastern half of the United States.

AccuWeather Chief Meteorologist Jonathan Porter described the storm as the worst to hit the Gulf Coast in decades. “Travel was essentially shut down along several stretches of the I-10 corridor between Houston and New Orleans, which are critical for commerce,” Porter said. “Communities in Louisiana that are accustomed to hurricanes and scorching summer heat instead faced dangerous blizzard conditions.”

READ: Florida Braces As Unprecedented Snow Is Falling

The economic loss estimate accounts for significant travel disruptions, including hundreds of flight cancellations and airport closures at major hubs such as Bush Intercontinental Airport and Hobby Airport in Houston, and Louis Armstrong International Airport in New Orleans.

In New Orleans, two inches of snow accumulated within two hours on Tuesday, with total snow accumulations surpassing 10 inches along the I-10 corridor in Louisiana. Southeastern Texas saw up to 6 inches of snow, while parts of Mississippi and Alabama reported more than 4 inches. Areas of north Florida are expecting 4 inches or more.

Florida Braces As Unprecedented Snow Falls (FDOT)
Florida Braces As Unprecedented Snow Falls (FDOT)

The plunging temperatures, which dipped 15 to 25 degrees below historical averages, have led to burst water pipes, increased heating and energy demands, and hazardous road conditions that resulted in numerous accidents and injuries.

AccuWeather’s estimates for total damage and economic loss take into account various factors, including snow removal costs, property damage, job and wage losses, supply chain interruptions, and emergency management expenses.

READ: AccuWeather: Historic Winter Storm Hammers Gulf Coast With Snow, Sleet, And Bitter Cold

“This storm will have lasting impacts, with interruptions in business operations and transportation expected to persist for days,” Porter said.

To put the storm into perspective, AccuWeather previously estimated the damage and economic loss from the 2021 Texas winter storm and deep freeze at $155 billion, which nearly collapsed the state’s power grid. Recent estimates for wildfires near Los Angeles in 2024 were placed between $250 billion and $275 billion.

Over the past 12 months, the combined total damage and economic loss from extreme weather events in the U.S. have reached an astonishing $735 billion to $816 billion, equivalent to nearly 3 percent of the nation’s gross domestic product.

“The past year has been the most costly and impactful stretch of extreme weather in the United States in the past 90 years, since the Dust Bowl era of the 1930s,” said AccuWeather Founder and Executive Chairman Dr. Joel N. Myers.

AccuWeather Senior Meteorologist and Sr. Director for Special Projects Marshall Moss warned that extreme weather events are becoming more frequent and severe due to climate changes. “People need to be prepared for more unprecedented high-impact events across the country, especially as insurance coverage becomes increasingly difficult to afford and secure. Many families and businesses remain underinsured or uninsured,” Moss stated.

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