Winter Storm Jonas

By January 21, 2016 January 10th, 2019 No Comments

Forget about the financial markets (at least for a few minutes).

With 2016’s first significant snow event bearing down on the mid-Atlantic and Northeast regions, the Wall Street Journal offered a timely look at the economic effects caused by bad winters and snow storms.Luckily for these areas, Winter Storm Jonas will mostly hit over the coming weekend, which will greatly mitigate economic impacts like lost wages, sales and tax revenues. In fact, these areas of the country have already benefited from unusually warm temperatures so far this winter and few weather-related business interruptions, so to an extent the weather has been cooperative when it comes to the economy. (Here’s some more good reading on the economic impacts of bad winter weather.)

Of course, let’s not forget the snow and ski industry in and around New England. Vermont alone has more than a dozen ski areas and reportedly sees $1.4 billion in annual revenues and about 12,000 seasonal jobs as a direct or indirect result of skiers, snowboarders, snow mobilers, etc., and the money they spend, and they’ve already seen a tough start to this winter season. So as you dig out your driveway and doorways this weekend, remember: these businesses, their customers, and the tax collectors win big with big snow.