Economists say a wildfire that burned 346 homes and scorched 28 square miles in the Colorado Springs area over the summer could provide an economic boost over the next five years.
Claims for the contents and homes damaged in the Waldo Canyon Fire have reached $350 million and counting. The Rocky Mountain Insurance Information Association estimated that fire, and another which occurred within weeks of it, constituted the two most destructive wildfires in Colorado’s history.
Economist Tom Zwirlein said rebuilding could create more than 750 new jobs over the next five years. Refurbishing new homes and businesses could create more than 320 jobs.