Contact Us
Make My Homepage

Sandy Rebuilding Could Spur New Jersey’s Economy [AUDIO]

Sandy has caused untold billions of dollars in damage all over the Garden State, and major rebuilding efforts are being planned in numerous communities up and down the shore.

Mario Tama, Getty Images

Rutgers economist James Hughes says, “The full effect of hurricane Sandy on the Jersey economy remains unclear right now but basically for the next several months – November and December – we’re going to have a lost economic output…A lot of people can’t get to work or their jobs are temporarily shut down.”

He says even though there’s more work for tree-cutters and other emergency providers.

“There are a number of other sectors that have permanently lost economic output – meals not eaten out and certain services like that. However once the rebuilding process commences – probably next spring, because we’re heading into some severe winter weather – we’re going to see a jump in economic output.”

So, is it possible that efforts to repair the damage from the hurricane will ultimately give the Jersey economy a significant boost?


Hughes says, “It really depends on the ultimate scale of federal aid, the ultimate scale of insurance payments, people’s willingness to reinvest that money…The rebuilding is actually a real net positive, and the question is – is that going to be greater than the short term economic loss of output …At this point it’s really unclear how the balance sheet is going to work out.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.