California Drought Costing State $2.2 Billion

Friday, August 1, 2014
A new study shows California's historic drought will cost the state $2.2 billion in this year alone and result in the loss of more than 17,000 jobs.
 
The research, by the University of California Davis Center for Watershed Sciences also reports:
  • The drought in 2014 will result in a 6.6 million acre-foot reduction in surface water available to agriculture.
  • This surface water loss will be partially replaced by increasing groundwater pumping by 5 million acre-feet, at a cost of $454 million.
  • The resulting net water shortage of 1.6 million acre-feet will cause losses of $810 million in crop revenue and $203 million in dairy and other livestock value. 
  • Direct costs to agriculture total $1.5 billion. 
  • The total statewide economic cost of the 2014 drought is $2.2 billion, with a total loss of 17,100 seasonal and part-time jobs.

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