Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Floodwaters in Hamburg, Iowa, March 20. Photo: Scott Olson/Getty
Workers are permanently moving from flood-ravaged towns and cities in the U.S. Midwest, an exodus that could hurt already-struggling manufacturing and agriculture companies, according to a new report.
What's happening: Flooding last month from heavy rains caused more than $3 billion in damage in Iowa, Kansas, South Dakota, Wisconsin and elsewhere, AP reports. Among companies sustaining damage were Big Ag's Archer Daniels Midland, Cargill and Tyson.
- In a new report provided first to Axios, LinkedIn said members from flood zones are changing their place of residence in considerable numbers.
- Based on that, and what workers did in prior natural disasters — Miami for example had a 62.9% increase in net migration in the calendar year after Hurricane Irma in 2017 — LinkedIn forecasts a comparatively large migration to the Southwest in the coming months.
- "[W]e expect to see an increase in workers moving to: Denver, Dallas-Fort Worth, Seattle, and Phoenix," LinkedIn said.
- "It's important to consider that severe weather caused by climate change may have lasting consequences on the economic health and vitality of regions like the Midwest that are already struggling to retain jobs and talent," said Guy Berger, LinkedIn's chief economist.
Agriculture and manufacturing companies, such as Cargill and Tyson, are among those that are likely to be hit hard by the migration of workers to the Southwest, LinkedIn said.
Neither Cargill nor Tyson responded to emails seeking comment.