(MUNCIE) - A new Ball State study claims recent flooding in Central Indiana will cost $126 million dollars.
BSU Economist Michael Hicks used methodology from 1993 floods in Mississippi to estimate the cost of damage in our state. The study focuses on population and the number of homes as well as damage to railways, roads, businesses and utilities.
Hicks previously published an analysis of Hurricane Katrina's economic impact that matched findings from the Army Corps of Engineers.
His Indiana analysis makes 2008 the second most expensive flood year since records were started in 1955. Only 2003 saw more destruction, costing us $270 million dollars in damage.
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