Los Angeles agency reveals estimated economic impact of deadly wildfires as infernos still rage

The Los Angeles wildfires person caused tens of billions of dollars successful spot harm and mislaid wages, arsenic infernos proceed to scorch the Golden State.

The L.A. Area Chamber of Commerce connected Thursday announced it received preliminary estimates from the Los Angeles Economic Development Corporation (LAEDC) connected the assessment of the devastation caused by the wildfires. 

The flames caused astir $53.8 cardinal successful spot harm based connected marketplace value, and astir $28 cardinal successful spot harm based connected recorded value, according to the LAEDC.

Potentially mislaid taxes volition relationship for astir $466 million, according to the assessment.

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A burned occurrence extinguisher sits successful the auditorium astatine the Eliot Arts Magnet Academy that was destroyed by the Eaton Fire successful Altadena, California, connected Jan. 10. (Justin Sullivan/Getty Images)

With much than 15,000 jobs impacted, the corp estimates $1.2 cardinal successful mislaid wages. 

It besides estimates astir 2,000 companies were impacted by the fires. This brings the full economical nonaccomplishment to an estimated $2.9 billion. 

An aerial presumption shows debris from burned properties pursuing the Palisades Fire successful the Pacific Palisades vicinity of Los Angeles connected Jan. 10.  (Reuters/Daniel Cole )

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Estimates from the LAEDC were based connected the L.A. County occurrence representation and existing region records information for some the Palisades and Eaton areas. 

Further assessments are successful progress, arsenic new fires proceed to char the area.

The State Assembly connected Thursday passed a $2.5 cardinal exigency occurrence assistance package, with an overwhelming bipartisan ballot of 78-0.

A conveyance drives past a hillside engulfed successful flames caused by the Hughes Fire successful Castaic, California, connected Wednesday. (AP Photo/Ethan Swope)

The Laguna and Sepulveda fires broke retired successful Ventura and Los Angeles counties connected Thursday, rapidly burning astir 100 acres.

Cal Fire reported the Laguna Fire remains astatine 0% containment, portion the Sepulveda Fire is 60% contained, arsenic of 1 p.m. PT.

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The fast-moving Hughes Fire, which broke retired successful Los Angeles and Ventura counties connected Wednesday, is lone 14% contained and has scorched much than 10,000 acres.