New study from CSI shows crime costing Colorado billions
GRAND JUNCTION, Colo. (KKCO) - A new study from the Common Sense Institute shows the billions of dollars crime is costing Colorado.
$27.2 billion is the estimated cost crime is having on the state. The report from the CSI shows summer homicides have spiked, murder rates increased by 18% from the first half of 2022 to the first half of 2023.
The study highlighted the cost each murder has on the state-roughly $8.8 million.
Adams and Denver counties account for 40% of the overall crime rate across the state.
Other key findings the report highlighted is the reduction in crime and how it would benefit the state. For every 1% decrease in crime 474 jobs could be added and %56.2 million would go back into the economy.
If crime dropped to zero insurance premiums could decrease by 25% giving $1.71 billion back to consumers.
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