Collapse of Key Bridge Impacts Regional Businesses

Collapse of Key Bridge Impacts Regional Businesses

Team Uncategorized

On March 26, 2024, tragic events led to the collapse of the Francis Scott Key Bridge. The bridge spanned the Patapsco River in the Baltimore metropolitan area of Maryland, United States. The loss of the Key Bridge has impacted businesses in the region and will continue to do so until the bridge is rebuilt, which is expected to take just over 4 years. The collapse of any large, metropolitan bridge will have similar effects. 

Economic Impact 

The collapse of the Key Bridge has resulted in financial hardships for regional businesses. 

  • Loss of jobs. The economic impact of the bridge collapse will result in loss of jobs. As businesses are financially affected, jobs may be eliminated to cut business costs. 
  • Supply chain interruption. It may take longer to receive supplies and ship out products, which can put significant strain on any business. 
  • Increased transportation and shipping costs. With longer routes required, transportation and shipping costs rise. 
  • Delays in production and operations. All of the above can contribute to delays in production and operations for many businesses as there is no relief of the financial strain in the immediate future. 

Traffic Impact 

The impact on traffic flow is one of the biggest and immediately noticeable results. 

  • Traffic congestion. As commuters and commercial vehicles are forced to take alternate routes, the increase in traffic on other roads and highways can cause significant traffic congestion. 
  • Longer routes. Without a major bridge, longer routes are required to get from point A to point B, which increases commutes and routes for transportation of goods. 
  • Fuel consumption. Longer routes mean increased fuel consumption, which affects individuals as well as commercial vehicles. 

Civil Impact 

The need for alternate routes due to the bridge closure has a civil impact on local and neighboring areas. 

  • Delays in emergency response. Emergency vehicles must also take alternate routes, which leads to delays in response times that can negatively impact the health and well-being of people in the area. 
  • Strain on infrastructure. The increase in traffic flow on other roads, highways, and bridges puts additional strain on the infrastructure of those alternate routes. 

Planning for the Future 

Businesses will need to plan for the immediate future until the bridge is rebuilt, as well as the long term. With over 4 years until the bridge will be reopened, alternate routes will become routine. Adjustments and negotiations will need to be made to retain customers and business relationships. 

Additionally, while it is impossible to predict disasters such as the Key Bridge collapse, it is important for businesses to prepare for the possibility. Making changes to logistics and supply chain strategies can help to mitigate such risks in the future.

Economy Strain Affects All Business

Small businesses are also affected by economic strain. The cost of services provided by medical and dental practices may also increase because of the economic impact of the Key Bridge collapse, across the state of Maryland and even neighboring states. 

MD Smiles in Ellicott City, Maryland is a comprehensive dental practice serving families in the area. Though the impact of the bridge collapse has impacted us all, we will continue to serve the community, providing quality dental care in a modern, relaxing environment. 

To learn more, call 410-531-2690 or contact us today to schedule an appointment.