Gun Violence Impacts Local Economies
Surges in neighborhood gun violence are associated with a large number of negative economic outcomes, including fewer new jobs, lower home values, and lower credit scores, according to a new report from the Urban Institute. A Neighborhood-Level Analysis of the Economic Impact of Gun Violence analyzes census tracts in major cities that experienced sharp and sudden increases in gun violence, finding that such surges had the effect of dragging down home values and job creation in the affected neighborhoods. In Minneapolis, for example, each additional gun homicide in a given census tract was associated with 80 fewer jobs there the following year.