The Concepción Metropolitan Area in Southern Chile has been showing high ambient concentrations of fine particulate matter due to its significant industrial activity. Therefore, this study analyzes various regulatory scenarios in order to help reduce the atmospheric emissions from the industrial activities. Unlike the standard methodology, the source location and the atmospheric conditions were included in the analysis to establish the contribution of these sources to the ambient levels of PM2.5 observed in the populated Concepción Metropolitan Area. The results show that if only the direct impact of emissions is considered, the potential reduction in PM2.5 concentration is underestimated and the total reduction costs are overestimated. We conclude that if the indirect impacts of the industrial