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The Economic Cost Of Opioids On Long Island? $8 Billion Annually, Study Shows

Desiree D'Iorio
Dr. Jonas Shaende, chief economist at the Fiscal Policy Institute, speaks on Wednesday at THRIVE Recovery Community and Outreach Center in Hauppauge about the findings of a new FPI report quantifying the impact of the opioid crisis on Long Island.

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. 

Desiree reports on the lives of military service members, veterans, and their families for WSHU as part of the American Homefront project. Born and raised in Connecticut, she now calls Long Island home.