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Monday, October 23, 2017 Moody’s Investors Service: Jersey Shore Counties Well Prepared To Handle Next Superstorm

Monday, October 23, 2017 Moody’s Investors Service: Jersey Shore Counties Well Prepared To Handle Next Superstorm

Trenton, NJ – “In the five years since Superstorm Sandy pummeled coastal New Jersey in October 2012, the most severely impacted counties have largely recovered and are at least as, if not better, prepared for a storm of similar strength.Infrastructure improvements, healthy economies and strong finances combine to demonstrate both the strength of the recovery and the level of preparedness for future storms. Accordingly, the credit quality of Ocean County (Aaa stable), Monmouth County (Aaa stable) and Atlantic County (Aa2 stable) and most of their hard-hit municipalities look to remain healthy.” (Moody’s Investors Service Oct. 23, 2017)

 

Highlights

  • In the five years since Sandy, the most severely impacted counties (Ocean, Monmouth and Atlantic) have largely recovered and are at least as, if not better, prepared for another superstorm.
  • Infrastructure improvements, healthy economies and strong finances combine to demonstrate both the strength of the recovery and the level of preparedness for future disasters.
  • Median home prices have continued to climb in Ocean and Monmouth counties.
  • Tourism is flourishing. Ocean and Monmouth counties posted higher tourism dollars in 2016 than 2011, up by 16.5% in Ocean County and 23.5% in Monmouth County.
  • The finances of Atlantic, Monmouth and Ocean counties, and many of their municipalities, are generally stronger than before the storm.

Attached is the full report.