When it comes to the ideal weather climate, most people would agree that New York State falls a little short. We get our fair share of blinding blizzards, flash flooding and teeth-chattering cold. And now we know how much of an impact typical weather hazards bring to the economy thanks to a new study by by the National Center for Atmospheric Research (NCAR).
Results of the study produced the estimated range of $485 billion in potential economic impacts by applying their weather sensitivity findings of 3.4 percent to the 2008 U.S. gross domestic product of $14.4 trillion according to researchers.
Topping the list for most weather sensitive states was none other than New York with a 13.5 percent impact to the economy. The findings didn TMt looking into why individual states were worse than others. Economic sectors which were most negatively affected by weather were reported to be mining followed by agriculture nationally.