Storm damage from Hurricane Harvey in Port Aransas, near Corpus Christi.
We’re starting to better understand how Harvey has hit our local economy.
Iain Vasey, President of the Corpus Christi Regional Economic Development Corporation which works with local companies and helps recruit companies to our area, says so far they have spoken with 150 local companies.
Vasey says although the damages are in the millions, it’s not the damages that will hit us the hardest.
Vasey said, “The actual physical damages are probably measured in the millions but the loss of economic activity is potentially in the billions of dollars, especially when you factor in loss of wages from people that may not be able to work.”
The economic activity that he’s talking about includes the lack of products moving out of the Port of Corpus Christi, that brings a lot of money to our economy.