Looting costs in America’s 20 largest metropolitan areas exceeded $400 million from the first weekend of rioting, according to a new report from the Anderson Economic Group.
“This includes property damage, lost inventory, cleanup and reconstruction costs, and closure-related lost wages,” the report stated. “[The study] did not assign any costs to peaceful protests or demonstrations.”
The report, published June 5, used “news publications to identify where looting occurred…and estimate the total costs of looting between May 29 and June 3.” The report authors say this value could be severely underestimated.
“Our estimates are based on observed patterns of looting in the 20 largest metropolitan areas across the country. We did not estimate costs in smaller metro areas that may have also experienced looting,” stated Brian Peterson, the firm’s director of public policy and economic analysis. “Furthermore, our estimates do not include costs to state or local governments that experienced property damage or incurred increased emergency service costs.”