meta_pixel
Tapesearch Logo
Log in
Marketplace All-in-One

One bridge, thousands of jobs affected

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 28 March 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

The Port of Baltimore remains cut off after the recent collapse of the Francis Scott Key Bridge. It’s already having effects on supply chains, but it’s also impacting the jobs and livelihoods of folks in the region. We unpack. Plus, households accumulated more wealth during the pandemic recovery than would have been expected, U.S. hydropower took a hit last year, and a new Tennessee law aims to protect musicians from generative AI.

Transcript

Click on a timestamp to play from that location

0:00.0

There's still no prediction when the Port of Baltimore might reopen to cargo ships.

0:06.0

I'm David Brancaccio in New York.

0:08.0

The Port of Baltimore remains cut off today from the major shipping channel following this week's collapse of the key bridge.

0:14.9

Supply chains are shifting, with economists predicting limited effect on the economy

0:19.1

nationally, but for workers at the port and the economic ecosystem in the region, the effects of the disaster could be long term.

0:26.6

Marketplace's Henry Epp reports.

0:29.0

A lot of work needs to be done in the immediate aftermath of the ship crash and bridge collapse says Darius

0:34.1

Irani chief economist at Towson University's Regional Economic Studies Institute

0:38.5

recovery efforts investigations clean up of the bridge debris.

0:42.5

Those are all going to determine how long the port will be closed and then will determine

0:46.0

sort of ultimately will this be sort of a transitional blip or will this be a major economic impact.

0:54.0

Right now there's no good estimate of how long the shutdown might last, but for the moment

0:58.6

there's still some work at the port, freight for dock workers to unload and for truckers to pick up says Lewis

1:04.0

Campion president of the Maryland Motor Truck Association.

1:07.0

But that will only be for probably the next week

1:10.0

before that freight is gone.

1:13.0

At which point work could dry up or shift away from Baltimore for the tens of thousands of people whose jobs are tied to the port.

1:20.0

Truckers, for example, could have to travel farther to pick up from other parts of the eastern seaboard, Campion says.

1:26.0

That's going to be a very difficult challenge for some of our companies to figure out how to manage the freight that is available but no longer

1:35.2

available in Baltimore. Economic losses in the region could total 10 to 15 million dollars a day

1:40.9

says Darius Irani at Towson and that'll take a hit on state and

1:44.8

local governments to up to 1.5 million dollars a day in lost tax revenue. I'm

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.