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Indianapolis gets ready for first boutique hotel on north side

INDIANAPOLIS (WISH) – A new report shows Indiana spends $43,000 for each economic development job, but is that too much? Also, Indianapolis gets ready for its first boutique hotel on the north side.

Indiana may be doing economic development all wrong, according to a new Ball State study.

Ball State’s center for business and economic research found fewer than one percent of all jobs across the country are likely to pick up and move to another state.

Economist Michael Hicks found Indiana has given out $2.2 billion in state incentives to attract 50,600 jobs over the last six years, which breaks down to a cost of $43,700 per position in a state where the average income is only $38,812 per person.

The study’s authors said the investment money could be spent better.

No comment from state officials on the study.

In other business headlines, the Ironworks hotel Indianapolis will break ground Wednesday. The hotel will be located adjacent to the Ironworks at Keystone mixed-use apartment and retail complex, at east 86th Street and Keystone Avenue.

It will be the first boutique hotel of Indianapolis’ north side.

The hotel will open next summer.

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