Spotlight on the Hurricanes

Significant economic impacts were felt across the state and region when they were hit with four hurricanes in 2004 and two in 2005. The hurricanes led to property damage to businesses, lost economic activity, and layoffs at businesses that were temporarily or permanently shut down. In 2004, the total statewide insured economic losses for the four hurricanes exceeded $20 billion. Losses for hurricanes Frances and Jeanne, which hit hard in Martin, St. Lucie, and Indian River counties, were $3.7 billion and $4.6 billion, respectively. Losses were greatest for the agriculture, tourism, and international trade industries, all important segments of South Florida's economy.