New Jersey Governor Chris Christie has estimated that Hurricane Sandy caused at least $29.4 billion in damage to New Jersey, according to a preliminary analysis.
The estimate for damage caused by Sandy includes personal property, business, infrastructure, and utility damage, reports NBC News.
The statement by Christie noted that the preliminary cost estimate is “inclusive of aid received to date and anticipated from federal sources,” which include the Federal Emergency Management Agency and the Small Business Administration.
Christie called the estimate “conservative and responsible,” adding that it could be revised higher. New York Governor Andrew Cuomo announced last week the estimate for his state. Cuomo plans to ask the federal government for $30 billion in disaster aid for New York.
John Liu, New York City’s Comptroller, stated earlier this month that the storm is costing the city about $200 million each day and the amount will likely top out at $1 billion. Bloomberg notes that Christie stated on Friday of the disaster cost estimate:
“This preliminary number is based on the best available data, field observations and geographical mapping, and supported by expert advice from my Cabinet commissioners and an outside consulting company.”
Wind-driven waves were responsible for tearing up the majority of New Jersey’s boardwalks, which are crucial for the state’s $38 billion-a-year tourism industry. It also flooded buildings, knocked homes off of foundations, and crippled the state’s transit. It damaged 62 locomotives and 261 rail cars.
Christie also took a bi-partisan approach to the disaster and rebuilding efforts. The New Jersey governor stated:
“I stand ready to work with our congressional delegation and the Obama administration to get the funding support New Jersey expects and deserves. I will spare no effort and waste no time to rebuild and restore our tourism industry, our transportation and utilities infrastructure and the lives of our citizens.”
Along with estimating New Jersey’s storm damage at about $29.4 billion, Chris Christie also warned state residents earlier this month that property owners in areas devastated by the storm may see higher tax bills to pay for repairs to the state.