(Harrisburg) -- More than 34,000 homeowners and businesses in Pennsylvania will see their flood insurance rates rise as the federal government tries to shore up the National Flood Insurance Program.
An analysis by The Associated Press finds there are 57 cities and towns where at least 100 homes or businesses are facing some sort of price hike. Those with the most are Philadelphia, Harrisburg, Bristol, Johnstown, Jersey Shore and Wilkes-Barre. Twenty-two have a population of less than 5,000.
In Pennsylvania, numerous river towns have downtowns that sit squarely within designated flood hazard zones and rising premiums could deliver a gut punch.
Jim Brett of the Brett Insurance Agency in Johnstown says that no one will ever buy another building with this kind of flood insurance cost in towns like Johnstown that are starved for business investment.
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