A Los Angeles agency shares the staggering economic impact of deadly wildfires

The Los Angeles wildfires It has caused tens of billions of dollars in property damage and lost wages as the inferno continues to burn through the Golden State.

The Los Angeles Chamber of Commerce announced Thursday that it has received preliminary estimates from the Los Angeles Economic Development Corporation (LAEDC). damage assessment caused by forest fires.

According to the LAEDC, the fires caused about $53.8 billion in property damage based on market value and about $28 billion in property damage based on recorded value.

According to the estimate, the potential lost taxes would be about $466 million.

CALIFORNIA FIRE: KEY PHONE NUMBERS FOR LOS ANGELES AREA RESIDENTS AND HOW YOU CAN HELP THEM

A charred firefighter sits in the auditorium of Eliot Arts Magnet Academy, which was destroyed by the Eaton fire on January 10 in Altadena, California. (Justin Sullivan/Getty Images)

With more than 15,000 jobs affected, the corporation estimates $1.2 billion in lost wages.

He also estimates that about 2,000 companies have been affected by the fires. This brings the total economic loss to about $2.9 billion.

An aerial view of the wreckage of burning properties following the Palisades Fire in the Pacific Palisades neighborhood of Los Angeles on January 10. (Reuters/Daniel Cole)

LA FIRE DESTROYED RYAN O’NEAL’S MALIBU HOME WITH FARRAH FAWCETT.

LAEDC’s calculations were based on the LA County fire map and available county records data for both the Palisades and Eaton areas.

Further evaluations are ongoing, e.g new fires continue to char the area.

On Thursday, the state Assembly passed a $2.5 billion emergency fire relief package by a 78-0 vote.

A car engulfed in flames from the Hughes Fire drives past a hill in Castaic, California, Wednesday. (AP Photo/Ethan Swope)

Laguna and Sepulveda fires in Ventura and Los Angeles The county quickly burned about 100 acres on Thursday.

Cal Fire said the Laguna Fire remained at 0% containment and the Sepulveda Fire was 60% contained as of 1:00pm PT.

CLICK HERE TO GET THE FOX NEWS APP

Fast moving Hughes FireWednesday’s wildfire in Los Angeles and Ventura counties is only 14% contained and has burned more than 10,000 acres.