Cedar Rapids Businesses Lost $133 Million Due to Derecho

CEDAR RAPIDS, Iowa - A new survey shows Cedar Rapids businesses lost more that $133 million from the August derecho.

Most of the losses came from property damage, as well as a decline in sales and wages.

Half the losses were covered by insurance. The survey also noted that most businesses do not plan further job cuts, and most have enough money to stay open.

The Cedar Rapids City Council heard a presentation of the survey, called "Derecho Loss Questionnaire", at its Tuesday meeting.

Overall, the August derecho was the most costly natural disaster in U.S. history - estimated to have cost $10 billion after damaging several states.

There have beam 112 responses to the survey, with 50 percent coming from Service and retail businesses in Cedar Rapids.

More than 50 percent of those businesses were closed between one and two weeks because of the derecho.


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