The January wildfires in Los Angeles caused between $28B and $53.8B in property damages, according to a new report from the Los Angeles County Economic Development Corp. and the Southern California Leadership Council.

Property damage from the January wildfires in Los Angeles County, including the Eaton and Palisades fires, is estimated at between $28 billion to $53.8 billion.

A new study commissioned by the Southern California Leadership Council found that the county would lose $4.6 billion to $8.9 billion in economic output over the next five years from the Palisades and Eaton fires.

Business disruptions from the fires are projected to result in economic losses of up to $8.9 billion just in LA County.