NJ Sandy Cleanup to Cost About $29.4 Billion

Cleaning up the damage caused by 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.

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.

Christie says he remains committed to working with President Obama to secure federal help for New Jersey.