A storm system will be making its way up the Eastern Seaboard Wednesday and Thursday (January 3rd and 4th), dumping snow along many coastal regions. Thanks to the storm's distance from the coastline, many beaches will be able to pick up several inches of snow as cold air is able to successfully wrap around the center of lowest pressure.
This will be a "bomb" cyclone. It usually happens over warm ocean water, like the western Atlantic, due to low static stability. Bombogenesis simply means that a storm is quickly strengthening. Officially, a cyclone needs its pressure to drop by 24 millibars over 24 hours at 45 degrees North latitude to be a bomb cyclone. This storm is taking place closer to 40 degrees north, so the millibars only need to drop by 17-hPa over a 24-hour period. This is highly likely.
Snow totals will be close to half a foot in parts of the southeast, with more than 12 inches expected in many parts of New England.