Sandy comes with $71 billion price tag

epa03453939 A roller coaster is left stranded in the ocean after Casino Pier was destroyed by Hurricane Sandy, in Seaside Heights, New Jersey, USA, 31 October 2012. The US East Coast was to start picking up the pieces on 31 October after superstorm Sandy left at least 33 people dead and damage estimated in the billions of dollars. New York Mayor Michael Bloomberg said the largest US city was going 'back to business' and bus routes would be fully reopened 31 October. The subway would probably take another four or five days to resume operations, he said late 30 October. Some flights were to also resume. US President Barack Obama visited New Jersey on 31 October with the state's governor, Chris Christie, for a first-hand impression of the damage.  EPA/MICHAEL REYNOLDS ** Usable by LA Only **

NEW YORK — New York State and New Jersey will need at least $71 billion to recover from the devastation of Superstorm Sandy and prevent similar damage from future storms, according to Business Insurance.

sandy aftermathThe total, which could still increase, came as New York Governor Andrew Cuomo said the state will need $41.9 billion, including $32.8 billion to repair and restore damaged housing, parks and infrastructure and to cover lost revenue and other expenses, the article stated.

According to the article, Cuomo’s figure includes $9.1 billion to be set aside to mitigate potential damage from storms like Sandy in the future.

Preliminary analysis released by New Jersey Governor Chris Christie’s office shows that the state suffered almost $30 billion in overall losses, due in large part to the damage to its transit system and coastline, the article noted.

Click here to read the article in its entirety.

Cleanfax Staff

Cleanfax provides cleaning and restoration professionals with information designed to help them manage and grow their businesses.

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