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Key Bridge Response

Maryland Businesses Brace for Widespread Impact of Key Bridge Tragedy

Mar 27, 2024

The collapse of the Francis Scott Key Bridge in the early morning hours of March 26, 2024 has sent shockwaves throughout the Maryland business community.

As efforts to recover lives lost in the tragedy take place, Maryland leaders and agencies are also looking ahead to assess the short and long-term economic repercussions of this catastrophic event on residents, businesses, and the state's economy as a whole.

“The economic impact that’s going to be felt by Baltimore and the state of Maryland is incomprehensible,” Kane said in an interview with The Daily Record earlier this week. “It doesn’t just affect Maryland. This affects the entire East Coast up to the Mississippi.”

The Key Bridge carries an estimated 12.4 million vehicles annually, including more than 35,000 commuters, trucks and vital goods and services each day. Its collapse has effectively severed Maryland's main East-West connection, crippling the Port of Baltimore and disrupting businesses and jobs throughout the Baltimore-Washington corridor.

As Kane has noted "Our economy is already considered stagnant, and our state faces budget challenges. This tragedy could make those far more severe."

In the face of this adversity, the business community is urging patience and long-term adjustments while vowing to play an active role in the recovery process.

Our President & CEO, Mary D. Kane, has stepped forward to provide critical perspectives on this situation. Explore her insights in the following stories and media appearances:

The Maryland Chamber of Commerce is working to create a joint response effort to assist businesses, communities and residents: