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California Fires Could Affect Utah Economy

California Fires Could Affect Utah Economy



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AP Photo / Denis PoroyRandall Jeppesen, KSL Newsradio

The devastating fires in California eventually will be affecting most of us financially.

With all the houses and businesses being torn apart by fire, there's going to be a lot of insurance claims. "Expect to see at a national level that rates would rise, at least a little bit," BYU business professor Nile Hatch said.

Hatch says the fire also could affect us through construction costs. There is going to be a construction boom in California after this is over, and materials, even labor, will be drawn that direction, once again bumping prices up here. "We have to pay attention to what's going on around us because it has an immediate impact at home," Hatch said.

And, of course, any business operations based in the fire zones are now trying to reroute through other offices.

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