The Economic Cost Of Opioids On Long Island? $8 Billion Annually, Study Shows
A new report says the opioid epidemic has taken more than a human toll. Long Island’s economy loses more than $8 billion a year.
The Fiscal Policy Institute study found that the cost of opioid addiction on Long Island’s economy was $22 million per day.
This is 4.5% of Long Island’s GDP. It includes healthcare, lost productivity, and other economic factors.
“We’re convinced that the costs of the potential solutions are much less than the staggering economic damage that Long Island suffers every day,” says Dr. Jonas Shaende chief economist with the Fiscal Policy Institute.
Elected officials and addiction recovery specialists say more public, private and philanthropic support for drug treatment and prevention programs is needed in light of the new findings.