Sandy Cleanup To Cost NJ $29.4 Billion

Cleaning up the damage caused by Superstorm Sandy will cost New Jersey about $29.4 billion.

Gov. Chris Christie cited the estimate in a statement released Friday night, but warned that the total could go higher as the state further assesses damage.

“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,” said Governor Christie. “In a short period of time, we put together a comprehensive and responsible estimate, which may increase in the weeks ahead, and I stand ready to work with our Congressional delegation and the Obama Administration to get the funding support New Jersey expects and deserves in the aftermath of this catastrophe.

“We will continue to provide immediate relief for our citizens who were struck hard by Sandy,” the Governor continued. “But be assured, 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 for the long term.”

The preliminary estimate includes damage to personal property, businesses, transportation, utilities and infrastructure. It also includes aid the state has already received and money it expects to get.

The Jersey Shore, the lifeblood of New Jersey's $38 billion tourism industry, was hardest-hit during the storm. Christie said officials will assess the storm's impact on coming tourism seasons, and also will start to study population shifts and changes in the real estate market.

The Associated Press contributed to this report.