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Crops flooded in Louisiana as Hurricane Delta made landfall in 2020. Photo: Bryan Tarnowski/Bloomberg via Getty Images

Hurricane Ida caused more than half a billion dollars in damage to Louisiana's agricultural industry, according to estimates released Thursday by Louisiana State University.

The big picture: Ida was a catastrophic event that battered the Mid-Atlantic, Northeast and South last month and is expected to incur an economic toll in the double-digit billions.

The details: LSU estimated the $584 million hit to the state's agricultural industry includes "estimates for impacts yet to fully play out, such as reduced yields for crops that remained in the field during the storm and have not been harvested, and the potential for increased production costs."

  • The timber industry saw 168,000 acres of trees affected — worth an estimated $300 million.
  • Most fallen timber isn't salvageable. Less than 2% of timber that fell during the state's 2020 hurricanes could be sold, according to the report.
  • Sugarcane saw an estimated $35.4 million hit, representing 7% of the industry's annual value.

By the numbers: The weather event killed over 60 people, from Louisiana to as far north as Connecticut.

What to watch: Economists expect the events could cause a drag on GDP.

Go deeper: Hurricane Ida's economic toll

Go deeper

Oct 15, 2021 - Science

Americans perceive a rise in extreme weather, Pew finds

Americans are taking notice of extreme weather events, according to a new Pew Research Center survey.

Details: Two-thirds of Americans say extreme weather events in the U.S. have been occurring more frequently than in the past, while only 28% said they've been taking place about as often, and just 4% perceiving a dropoff in frequency.

2 hours ago - Technology

Facebook changes corporate name to Meta

Screen shot of CEO Mark Zuckerberg at the company's "Connect" virtual event

CEO Mark Zuckerberg on Thursday said the social media giant is renaming its company Meta.

Why it matters: The effort is meant to shift its image from a social media platform to a “metaverse” company that focuses on building virtual work and social communities.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Filings show Sweetgreen isn't profitable, despite claims

Illustration: Sarah Grillo/Axios

Restaurant chain Sweetgreen on Monday filed to go public, and revealed that it lost money in each year since 2014.

Why it matters: The company lied when it repeatedly told reporters it was profitable.