Economic losses mounting after Nebraska floods

By Daniela BersonU.S. EconomyFOXBusiness

Nebraska Farm Bureau President on the flooding impact: Crop losses in the $400M-$500M area

Nebraska Farm Bureau President Steve Nelson on the impact of the recent floods in Nebraska on the farms in the state.

Nebraska is still recovering from the catastrophic “bomb cyclone” that swept through the Midwest last month, according to Nebraska Farm Bureau President Steve Nelson.

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“It’s bad—we’ve not seen a storm like this in Nebraska’s history,” he told FOX Business’ Stuart Varney on Tuesday. “We’ve had flooding at record levels in practically every stream in the state.”

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Although Nelson was unable to pinpoint exact figures on the total number of loses, he said the state’s economy could be facing more than $1 billion in flood damage.

“We’re looking at livestock losses in that $400 plus million area. Crop losses in the $400 [million] to $500 million areas and then infrastructure losses, roads and bridges—those kinds of things [to be] another $400 to $500 million,” he said. “So all told this is a huge storm and if those estimates are correct and based on what I’ve seen I can see that number continuing to grow.”

Nelson added that he’s is thankful that the Trump Administration promptly declared an emergency in the area, but there’s still work that has to be done by FEMA.

“There are a lot more counties that need to be added to the list," he said.

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