Sderot incurring NIS 500m due to missiles

According to Israeli Bizportal website, residents of Sderot have suffered approximately NIS 500 million in income losses due to ongoing rocket attacks from Gaza.

Roughly one out of every three businesses in the city has closed down, and rockets have caused NIS 25 million in damage to homes and other buildings.

The losses suffered in 2007 were equal to the total losses between 2000 and 2006, Bizportal found.

Avi Barssessat, Chief executive officer (CEO) of the local Hollandia Company that employs 120 people, said the company had lost approximately six million shekels in 2007 due to attacks, and would consider a move to the central district in the near future if the situation did not change.

There was no need to fire workers, he said, “they just leave on their own” due to the security situation.