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Home Government

NY Sandy damage estimated at $42 billion

Sam Barron by Sam Barron
November 28, 2012
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In a meeting yesterday with New York”™s Congressional Delegation, county executives and New York Mayor Michael Bloomberg, Gov. Andrew Cuomo announced that Hurricane Sandy caused almost $42 billion in damage in New York.

The cost of the storm, as estimated in consultation with private firms including PricewaterhouseCoopers L.L.P. and the PFM Group, as well as the city and the counties, includes  $32.8 billion in repair and restoration costs and $9.1 billion in mitigation and prevention costs.

“The devastation caused by Hurricane Sandy is of unprecedented proportions, ranking among the worst natural disasters in our nation’s history in terms of loss of life, property damage, and economic impact,” Cuomo said in a press release. “Working together, we will rebuild stronger and better than ever before, so New York state is better prepared and has the infrastructure in place to handle future major weather incidents.”

Westchester suffered $527.80 million in damage, while Rockland suffered $143.70 million. The business impact in New York totaled $6 billion, with 265,300 businesses affected.

Compared to Hurricane Katrina’s effect on New York, Sandy destroyed more homes, had more power outages and impacted more businesses.

“It is important that we are all on the same page as New Yorkers, and not as Republicans or Democrats,” Westchester County Executive Rob Astorino said in a statement. “We need to speak with one voice as we seek recovery cost reimbursement from the federal government for this horrific storm. And today’s meeting was a good step forward in that process.”

Congresswoman Nita Lowey (D-Harrison) also pledged to work on both sides of the aisle to ensure that New York gets the necessary federal aid.

“The damage Sandy inflicted on New York City, Long Island, and the lower Hudson Valley was severe, and much work remains to help residents, business owners, and local governments recover and rebuild,” Lowey said.

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