Rising seas can hurt local economies

Local businesses in historic City Dock in downtown Annapolis, Maryland, lose thousands of dollars due to high-tide flood events © Amy McGovern

Impacts from climate change are not always easy to see. But for many local businesses in coastal communities across the United States, the evidence is right outside their doors or in their parking lots.

That evidence isn't just present in the form of more frequent flooding. According to a new study published Feb. 15 in the journal Science Advances, it is also revealed as a financial price for business. Stanford graduate student Miyuki Hino and her colleagues found that downtown Annapolis, Maryland's state capital, suffered a loss of 3,000 visits in 2017 due to high-tide flooding, which equates to a loss of somewhere between $86,000 and $172,000 in revenue.

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