Introduction
The financial, social, and psychological impact of homicide cases all over the United States is evident in the majority of research carried out by independent agencies. Numerous publications indicate that newly established and even old standing businesses are profoundly affected by homicide cases all over the United States. September has been the deadliest and most violent month in Cleveland. The month saw a record 100 homicides nearly all unresolved ( Vandenberge, 2019) . In October alone, there have been over 21 homicide cases with the latest being a 16-year-old knifed in Old Brooklyn. At the same time, four bodies were found on East 144th; all the victims shot at close range. A six and a two-year-old were grisly killed when their house was set on fire in Slavic Village home ( Vandenberge, 2019) . With the social and psychological impact of rising homicide well documented, the outstanding question is, does the rate of violence have a substantial influence on the economy? "Surges" takes place when homicide levels increase sharply in a given geographical area.
The economic impact of homicide in Cleveland is most evident in people's spending power and the flow of money between the locals. Over the years, business owners have been relying on private security firms to boost their security as attested by increased rise on dependence on private security firms such as Safe Choice LLC ( Security Services: Cleveland, OH: Safe Choice LLC, “n.d.”). The majority of residents acknowledge that some business areas are a total "no go zones" during specific times of the evening. T he resulting situation is increased caution on security matters instead of free movement of economic activities. With commercial and business activities hampered and confined to specific regions, the flow of money and ease of business relations is significantly hindered, a prospect that drives down economic progress.
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The cost of violence
The traditional strategy of measuring the economic burden of homicide and violence cases is by the identification and measurement of the overall cost of a given injury or illness attributed to violence ( Giffords Law Center, “n.d.” ) . According to Giffords Law Center (“n.d.”) t hese costs include intangible costs that include suffering and pain, indirect damages that include legal and counseling expenses and direct costs that entail drugs and hospital bills. For homicide and violence in Cleveland, the total price is taken by the overall sum of health costs incurred by the families and victims of violence ( Vandenberge, 2019) . On average, according to the Police, treating gunshot wounds in Cleveland is $25,000 per person. Other costs, such as medical costs, are approximately $2.8 billion yearly, with nearly $1.6 billion incurred by the taxpayers. The most recent approximation put it at $350 billion ( Giffords Law Center, “n.d.”) . To the taxpayer, the lost opportunities for productivity and public health insurance spending that include insurance are very high (Ferrise, 2018).
Willingness to pay for the reduction of Violence and Homicide
A survey by the Cleveland Division of Police state that Cleveland's business communities are ready to pay for programs that aim at reducing violence and homicide cases. According to estimates by the Peace Action Cleveland (2019) their contribution will eat into the economy and live a gaping financial hole. On the other hand, Major Cities Chiefs Association Violent Crimes Survey showed that homicide cases continue rising in the county ( Keenan, 2017) . The results of the study undertaken by the Peace Action Cleveland (2019) estimate that, households are willing to pay up to fifty percent to reduce violence cases by partnering with like-minded community-based organizations that promote peace and the reduction of violence. The commitment and willingness of local and community-based organizations point to the fact that they are ready to take up the significant role of reducing violence by committing large sums of money for the course.
The economic effect on Communities
Over the past decade, violence and homicide cases have robbed of families loved ones, means of livelihood, peace of mind and environment to work productively. Homicide and violence cases affect neighborhood and housing prices in addition to business transactions. The Peace Action Cleveland (2019) argues that violence affects housing values all through Cleveland neighborhoods. A 2016 study on the economic impact of violence on a neighborhood's pricing revealed that the effect is most evident in low-income communities. The worst affected, according to the study, include Union Miles Park, Industrial Valley, Fairfax, and Central. Over the past decade, Central has led in the number of homicide and violent cases with its housing units bearing the brunt of increased pricing. Those who want safe neighborhoods must avoid places such as East Cleveland, Clark-Fulton, Wade Park, and Scovill Avenue ( Security Services: Cleveland, OH: Safe Choice LLC, “n.d.”) . Avoiding these neighborhoods and areas only means one thing; they must be ready to spend highly on housing units for safe zones. Some of the most sheltered areas and regions in Cleveland include Edgewater, Ohio City, Detroit, Tremont, and Broadview Heights. However, these areas cost highly, but due to the need for a peaceful place, residents have to pay up ( Security Services: Cleveland, OH: Safe Choice LLC, “n.d.”) .
The Peace Action Cleveland (2019) maintains that the brunt is most felt by ethnically heterogeneous areas with violence and homicide cases having the most significant effect on the development of service-related businesses, especially in low-income regions. Across peaceful neighborhoods around Cleveland that include Ohio City and Detroit, homeownership increased in value as wealthy people around the city sought safer havens. In low-income regions, home values decreased by over $20,000 ( Security Services: Cleveland, OH: Safe Choice LLC, “n.d.”) . The figure indicates a 22-point decrease in credit score in East Cleveland, a substantial benefit concerning the worsening economic situation of the city.
A conversation with the business community and service and retail businesses across significant areas that include East Cleveland and Wade Park acknowledges that increased violence and homicide cases have a direct impact on their establishments, reducing their business prospects and activities. In Ohio City and Tremont, a single homicide case is attributed to a loss of several jobs and means of livelihood. In low-income regions, yearly gun violence was related to lost job opportunities in addition to reduced business prospects for business owners ( Security Services: Cleveland, OH: Safe Choice LLC, “n.d.”) . In September alone, the worst month this year, the business community incurred huge losses with several businesses closing and over 100 job losses. Translated to lost growth prospects, the economic impact of violence and homicide in Cleveland in September alone led to millions of dollars directly and indirectly ( Security Services: Cleveland, OH: Safe Choice LLC, “n.d.”) .
Direct costs for the business community included security strategies such as the installation of camera systems, surveillance devices, and increased patrol of private security guards. Business owners also have to bear the cost of paying and acquiring bulletproof cloths, windows, bars on doors, and additional security personnel. As the level of homicide and violence continues, residents attested to the situation as a heavy toll on their daily economic life ( Giffords Law Center, “n.d”) . These include unnecessary strategies such as closing businesses early, vigilant night security, less shopping at night, and increased investment in security features instead of expansion of their businesses and homes. According to business owners, residents and stakeholder's violence and homicide cases hurt economic prospects, forcing community members to relocate and frequent movement that profoundly affect the entire Cleveland communities and neighborhoods ( Harris-Taylor, “n.d”) .
The resulting situation shows that homicide cases hurt businesses, thus damaging the region's economy. Homicide and violence, therefore, hurt growth prospects at an individual level, and community level to an extent established economic blueprints remain inactive and unimplemented by both individuals and companies. Another essential element and effect of violence and homicide are few producing companies and organizations try to invest and penetrate the region. Such hurt any growth opportunity, denying local’s job opportunities and slowing down expansive economic infrastructure. With few companies and organizations investing in the area, the number of manufacturing companies relocating is also harming the local's sources of livelihood with missed and lost job opportunities.
Cleveland occupies the top position in regards to crime, violence, and homicide cases in the United States (Ferrise, 2018). Locals, leaders, and the federal government stare down at a delicate situation, gradually going out of hand. Although the devastating social and human suffering due to instability is slowly crippling the area, the long term effect is soon crippling the stability and infrastructure of the region. The Peace Action Cleveland (2019) released its findings in early 2019 detailing the probable financial benefits from an enhancement of security features. Studies on both scenarios present far involving impacts of violence on both domestic fronts and national outlook. Peace Action Cleveland (2019) estimates that achieving regional peace, especially in residential neighborhoods, fosters closer business and investment ties in addition to increasing investor confidence on the same. Such not only enhance an area's economic block and engagement but also enhances increased participation in regional economic opportunities.
Cleveland has seen reduced economic engagement with other cities and states due to its volatile crime situation in the past decade. As the region faces poor regional integration and corporation with other areas, the chances are high that it may soon find itself on a stand-alone platform if the crime and violence situation is not controlled and solved. Whichever the case, Cleveland is still bound to face tough times economically since any outlined measures to address the violence and homicide will always take a toll on the city's financial position. Neighborhoods will have to invest heavily in security features, security personnel will have to be increased, and resources will be directed to the security docket in addition to multiple logistics. These will have an impact on the finances of the locals, businesses, organizations, local government, and security agencies.
Conclusion
The rate of violence and homicide in Cleveland, severely affect its economy. Violence and homicide incidences profoundly impact the economic prospects of a country or region. With increased cases of violence, Cleveland is gradually feeling the impact of slowed business, interrupted the flow of services and products in addition to lost jobs and job opportunities. As housing units continue experiencing a decrease in value and people moving away to safer areas, Cleveland is bound to feel the hard impact of disrupted flow financial fortunes. These are set to set in motion various economic, social, and political impacts that will slow down significant growth and development in the region. Gradually violence and homicide will eat into Cleveland's meager resources and deplete its economic fortunes. With the increased risk of homicide and violence, the city is bound to continue experiencing faulty economic triples that may cause unnecessary financial turbulence. The effects may extend many years to come, given that businesses will take time to recover and stability regained. Housing units will also continue experiencing a slow improvement in addition to adjustments.
References
Ferrise, A. (2018, October 3). Cleveland hits 100 homicides for seven straight years, marking first time since stretch ending in 1996. Retrieved October 21, 2019, from https://expo.cleveland.com/news/erry-2018/10/95e52b32e0380/cleveland-hits-100-homicides-f.html.
Giffords Law Center. (n.d.). The Economic Cost of Gun Violence in Ohio. Retrieved October 24, 2019, from https://issuu.com/lcav/docs/the-economic-cost-of-gun-violence-i/13.
Harris-Taylor, M. (n.d.). Cleveland Communities Grapple With Trauma From Gun Violence Spike. Retrieved October 24, 2019, from https://radio.wosu.org/post/cleveland-communities-grapple-trauma-gun-violence-spike#stream/0 .
Keenan, B. (2017, November 27). Cleveland ranked 5th deadliest city in America. Retrieved October 21, 2019, from https://www.news5cleveland.com/news/local-news/oh-cuyahoga/cleveland-ranked-5th-deadliest-city-in-america.
Peace Action Cleveland. (2019, October 11). Cleveland Peace Action. Retrieved October 24, 2019, from https://www.peaceactioncleveland.org/ .
Security Services: Cleveland, OH: Safe Choice LLC. (n.d.). Retrieved October 24, 2019, from https://www.safechoicellc.com/ .
Vandenberge, J. (2019, October 9). Cleveland crime data shows the progress, challenges. Retrieved October 21, 2019, from https://www.news5cleveland.com/cleveland-2019-shootings-heat-map-shows-where-most-shootings-happened-this-year .
