All about business

The Obama administration says its stimulus program has created or preserved 12,228 jobs in Arizona this year.

But one leading Arizona economist says that number is not worth the program’s price tag.

Arizona has been allocated $2.8 billion under the American Recovery & Reinvestment Act, according to the administration. The money covers transportation and water infrastructure contracts, weatherization of low income homes, Medicaid, public school funding and university biomedical research among other projects.

Economist Elliott Pollack said Wednesday dividing the federal allocation and the number of jobs equals about $230,000 per job in Arizona.

“They might as well give people the money,” Pollack said Wednesday at an economic forecast sponsored by Arizona State University and JPMorgan Chase & Co.

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