Incentivized Economic Development Program Review: Best Practices

[Slides]Incentivized Economic Development Program Review: Best Practices – Chris Judson & Shane Vyskocil, REMI

[Recording]Incentivized Economic Development Program Review: Best Practices – Chris Judson & Shane Vyskocil, REMI

The net impacts of proposed economic development policies have become more important as regional governments reconsider the value of major project investments. Incentives are now crucial to attracting new business to an area, but concern is growing over whether the amount offered exceeds the benefit of additional revenue.

Please feel free to join REMI Managing Economic Associate Chris Judson and Economic Associate Shane Vyskocil for their webinar, “Incentivized Economic Development Program Review – Best Practices,” that will be hosted on Wednesday, September 4th from 2 to 3 p.m. (ET).

This discussion details the current landscape for regional economic development, inclusion of equitable and sustainable growth strategies, and the capabilities of the REMI model. Our associates are prepared to evaluate the net economic, fiscal, and demographic impacts of select economic development policies.

The presentation includes reviews of current incentive program evaluation procedures from select states, establishing key performance indicators, and recommended data requirements. They will also be exploring “but for” sensitivity analyses, differences in ROI methodologies, and the importance of multi-year analysis during this webinar.

Energy Diplomacy: The Economic and Environmental Impacts of an Oil Shortage

[Slides]Energy Diplomacy: The Economic and Environmental Impacts of an Oil Shortage – Harry Walsh & Shane Vyskocil, REMI

[Recording]Energy Diplomacy: The Economic and Environmental Impacts of an Oil Shortage – Harry Walsh & Shane Vyskocil, REMI

A closure of the Strait of Hormuz seems more and more likely as tensions between Iran and the United States escalate. With daily shipping volumes reaching approximately 20 million barrels of crude oil and liquids, the Strait of Hormuz represents nearly 30% of all seaborne petroleum trade.

Please feel free to join REMI for an upcoming webinar, “Energy Diplomacy: The Economic and Environmental Impacts of an Oil Shortage,” that economic associates Harry Walsh and Shane Vyskocil will be presenting on Wednesday, August 21st from 2 to 3 p.m. (ET) that demonstrates how dynamic economic modeling can be applied in the evaluation of energy impacts related to economic and fiscal resilience, in addition to sustainability, economic growth, and equity.

Closing the Strait of Hormuz would have substantial impacts on global oil markets, which could potentially lead to large spikes in pricing and oil shortages. Although the importance of imported oil has declined in the U.S. due to increased production from tight oil plays, imports via the Strait of Hormuz still account for 7% of total U.S. petroleum consumption.

The American economy would experience far-reaching impacts resulting from the closing of this Iranian strait as oil has become an integral part of many U.S. production processes, while also playing a significant role in determining national transportation and fuel costs. By altering the composition of energy inputs, shocks to energy markets can make reaching environmental goals far more complicated.

Policymakers attempting to ameliorate these effects must first understand their cause and quantify their impacts. The E3+ model fills this need, extending REMI’s economic insights into the field of energy and the environment. This webinar will explore how to examine changes in energy policy within the REMI model and potential methodological approaches to implement when analyzing alterations made to major industries.

Scott Nystrom – The Demographic Forecast in the REMI Model: State-by-State Drivers to 2030

[Slides]The Demographic Forecast in the REMI Model: State-by-State Drivers to 2030 – Scott Nystrom, FTI Consulting, Inc.

[Recording]The Demographic Forecast in the REMI Model: State-by-State Drivers to 2030 – Scott Nystrom, FTI Consulting, Inc.

Labor force participation rate has been trending downward since 2010 and there are many factors that will affect the national workforce in the next ten years. Populations will shift, necessary skills will change, and detailed analysis has the ability to forecast what the demographic landscape might look like as a result.

Please feel free to join REMI for a guest webinar, “The Demographic Forecast in the REMI Model: State-by-State Drivers to 2030,” on Tuesday, September 17th from 2 to 3 p.m. (ET), with an encore presentation on Thursday, September 19th from 2 to 3 p.m. (ET), that will be presented by Scott Nystrom, Senior Director at FTI Consulting, Inc.

For this discussion, Mr. Nystrom will be describing the methodologies underlying the demographic portion of the REMI model and how it projects state-by-state population from the present through 2030. He will explain how the model handles natural change, special populations, and migrations of various types, including economic migration, retired migration, and international migration.

After the explanation of the model’s capabilities, this guest webinar presentation will examine how those various factors influence each state differently through the model’s baseline forecast over the next decade. It will serve as an overview on many of the technical details of demographic forecasting in the REMI model for interested parties and those curious about how their state’s population changes going forward.