New Jersey's preliminary estimate for the damage caused by Hurricane Sandy is $29.4 billion, reports Bloomberg.

This number includes cleanup costs and rebuiliding and improvements to infrastructure.

"In a short period of time, we put together a comprehensive and responsible estimate, which may increase in the weeks ahead, and I stand ready to work with our Congressional delegation and the Obama Administration to get the funding support New Jersey expects and deserves in the aftermath of this catastrophe," said NJ Governor Chris Christie in a statement.