Sandy damage estimate now at $62.8 billion in NY-NJ

State officials in New York and New Jersey have come up with initial dollar estimates of the damage caused by Hurricane Sandy in late October, suggesting that those damages now total about $62.8 billion. Citing a study conducted by local government officials and private firms such as PFM Group and PricewaterhouseCoopers, New York Governor Andrew Cuomo declared that repair and response work will cost the state $32.8 billion, to go with an additional $9.1 billion in mitigation and prevention costs. “The $9 billion in mitigation/prevention costs include ‘common sense’ mitigation actions,” said Cuomo, citing necessary actions in the areas of flood protection for the World Trade Center and vulnerable road and subway tunnels, fuel supply system power generation, sewage treatment plant flood protection, and secondary power supply systems for healthcare facilities. New Jersey Governor Chris Christie has cited a preliminary analysis claiming the storm caused $29.4 billion in damages in his state. Over in Connecticut, Governor Daniel Malloy has provided an initial estimate of damages at approximately $360 million.