Of the total population of approximately 19.7 million in New York, almost 16 million people live in coastal portions of the state.
Coastal New York employs approximately 7.3 million people annually, earning a total of almost $524 billion. This equates to almost $1.3 trillion in gross domestic product.
Five billion-dollar weather disasters affected New York in 2018—and a total of 26 affected the state between 2010 and 2018. In 2018 alone, multiple severe storms, dozens of tornadoes, and two powerful Nor’easters caused several billion dollars’ worth of damage to states along the east coast. In October 2012, Hurricane Sandy—costing affected states over $72 billion, with New York and New Jersey seeing the largest extent of damages—caused the New York Stock Exchange to close for two consecutive business days, which last happened in 1888 due to a major winter storm.*