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Consulting Services

Our economic consulting services include a range of support options that empower you to make informed decisions and minimize risk supported by dynamic economic modeling. Our experienced team of economists will cater to your forecasting needs and deliver a comprehensive analysis on your economy.

Consulting Services Overview

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EVALUATE

Our consulting experts employ REMI’s peer reviewed methodology to perform dynamic analyses and evaluate the effects of policy changes in your region.

ENLIGHTEN

The results of our analyses will offer valuable insights and enlighten your decision-making process, by empowering you with the critical implications of your policies, initiatives, and strategies.

EXECUTE

Our consulting clients can execute informed strategies and programs that are catered to their unique region as a result of our advisement.

APPLICATIONS

Our consulting services can address a wide range of economic interests and policy areas including:
• Economic Development and Trade
• Energy and Environment
• Housing and Community Development
• Taxation, Revenue and Budget
• Transportation and Infrastructure
• Labor and Workforce Development
• Immigration, Healthcare, and Social Services

REMI MODEL APPLICATIONS

OUR CLIENTS

REMI’s consulting clients value our ability to apply and communicate state-of-the-art approaches clearly and effectively and our commitment to deliver nonpartisan forecasts.

Our clients rely on the integrity and skills of our expert team of economists to inform and guide their policy decisions.

RELEVANT STUDIES

Economic Impact of Establishing Amazon Headquarters in New York State

Economic Impacts Of Increased Federal Funding In Missouri Associated With An Expansion Of Its MO HealthNet Program

Economic Impacts of Retiring & Replacing the San Juan Generating Station in 2022

The National Economic Impacts of Current Legislative Proposals to Change the Capital Gains Tax

REMI SEI

The premium modeling solution for evaluating the socioeconomic indicators (SEI) of projects, programs, and policy changes.

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REMI SEI Overview

REMI SEI Documentation

Decision-makers employ REMI SEI to understand the relationship between public policies in their industry and the varying economic effects across demographic groups.

REMI SEI is a premium software tool for economic impact analysis that can assess the core socioeconomic implications of programs and practices to pave the way towards more informed policymaking. This premium component can be added to any REMI model to fortify your SEI analysis on your local, state, regional, or national economy.

These core factors that can be assessed using REMI SEI includes:

– Jobs by Race/Gender
– Regional Disparities by County
– Labor Force by Race/Gender
– Jobs by Education Level
– Income by Quintile
– Inflation Impact by IncomePlease click here for a demonstration that illustrates how analysts can evaluate the socioeconomic indicators of public policies using REMI’s economic modeling software.

APPLICABLE INDUSTRIES:

Education
Housing and Community Development
Taxation
Energy and Environment
Immigration
Healthcare and Social Services
Transportation
Labor and Workforce Development
Consulting Firms

REMI SEI Presentations

Understanding the Socioeconomic Indicators (SEI) and their Implications for BRAC

Socioeconomic Indicators (SEI) and Regional Development

REMI SEI Presentation SeriesSEI Technical Presentation

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PI⁺

The next generation of economic modeling that builds confidence in your policy recommendations and examines the economic future of your region.

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PI+ Overview

MODEL APPLICATIONS

PI⁺ is the premier software solution for conducting dynamic macroeconomic impact analysis of public policy. As our flagship model, PI⁺ specializes in generating realistic year-by-year estimates of the total local, state, and national effects of any specific policy initiative.Using a wide range of policy variables to represent the policy being evaluated, REMI’s explicit model structure helps the user interpret the forecasted economic and demographic effects. The model can be calibrated to any sub-national area for policy analysis and forecasting, and is available in single- and multi-area configurations. Each calibrated area (or region) has economic and demographic variables to test the effects of any policy on a local economy.

Model simulations estimate comprehensive economic and demographic effects in wide-ranging initiatives, such as: economic impact analysis; policies and programs for economic development, infrastructure, environment, energy and natural resources.

PI⁺ is used by government agencies (including most U.S. state governments), consulting firms, nonprofit institutions, universities, and public utilities. Articles about the model equations and research findings have been published in professional national journals, including the American Economic Review, The Review of Economic Statistics, the Journal of Regional Science, and the International Regional Science Review.

MODEL USERS INCLUDE:

Ernst & Young
National Education Association
North Carolina Department of Commerce
Sandia National Laboratories
South Coast Air Quality Management District
Tennessee Valley Authority
Texas Comptroller
University of Michigan
Wyoming Department of Administration & Information

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RELATED DOCUMENTATION

PI⁺ VERSION 3.0
Data Sources and Estimation Procedures
Major Changes
Model Equations
PI⁺ User’s Guide
State and Local Government Spending Equation Estimation

PI⁺ VERSION 2.5
Data Sources and Estimation Procedures
Major Changes
Model Equations
PI⁺ User’s Guide

PI⁺ VERSION 2.4

Calculating Multipliers with the REMI Model
Data Sources and Estimation Procedures
Income Distribution
Major Changes
Model Equations
PI⁺ User’s Guide

PI⁺ VERSION 2.3

Beta and Sigma Estimation Methodology
Calculating Multipliers with the REMI Model
Data Sources and Estimation Procedures
Income Distribution
Model Changes
Model Equations
PI⁺ User’s Guide

PI⁺ VERSION 2.2

Industries – Hierarchical v2.2
Industry Comparison – Sector
Industry Comparison – Hierarchical
Demographic Component v2.2
PI⁺ Changes v2.2
PI⁺ Overview v2.2
Consumption Categories – Hierarchical v2.2
Consumption Categories – Detail Level v2.2
Consumption Categories – Summary Level v2.2
Income Distribution v2.2
Industries – Detail Level v2.2
Industries – Sector Level v2.2
Industries – Summary Level v2.2
Industry Comparison – Detail
Industry Comparison – Summary
Occupations – Detail Level v2.2
Occupations – Hierarchical v2.2
Occupations – Summary Level v2.2
Data Sources and Estimation Procedures v2.2
Comparing Employment Multiplier and Economic Migration Responses in Single vs Multi Region Models
BEA vs BLS Value Added
Comparing Business Cost Policy Variables
Model Equations v2.2

PI⁺ VERSION 2.1

Consumption Categories – Hierarchical v2.1
Data Sources and Estimation Procedures v2.1
Demographic Component v2.1
Economic Migration Equation Estimation v2.1
Estimated Labor Force Participation Rates Elasticities v2.1
Income Distribution v2.1
Industries – Hierarchical v2.1
Model Equations v2.1
Occupations – Hierarchical v2.1
PI⁺ Changes v2.1
PI⁺ Interface Guide v2.1

PI⁺ VERSION 2.0

Consumption Categories – Hierarchical v2.0
Data Sources and Estimation Procedures v2.0
Demographic Component v2.0
Income Distribution v2.0
Industries – Hierarchical v2.0
Investment Equation Estimation v2.0
Model Equations v2.0
Occupations – Hierarchical v2.0
PI⁺ Changes v2.0
PI⁺ Interface Changes v2.0
Wage Compensation Earnings Rate Equation Estimation v2.0

PI⁺ VERSION 1.7

Consumption Equation Estimates v1.7
Data Sources and Estimation Procedures
Demographic Component of the REMI Model
Government Spending Equation Estimation v1.7
Housing Price Equation Estimation v1.7
Income Distribution
PI⁺ Changes
PI⁺ Model Equations

PI⁺ VERSION 1.6

Data Sources and Estimation Procedures v1.6
Data Sources and Estimation Procedures v1.6R
Demographic Component of the REMI Model
Income Distribution
Occupations for PI⁺ – Hierarchical v1.6
PI⁺ Changes
PI⁺ v1.6 Model Equations
REMI PI⁺ v1.6R
Technical Documentation for Estimating Trade Flow Betas and Sigmas

PI⁺ VERSION 1.5

Data Sources and Estimation Procedures
Demographic Component of the REMI Model
Income Distribution
New Residence Adjustment Calculation for PI
PI⁺ Changes
PI⁺ v1.5
Technical Documentation for Household Forecast Project

PI⁺ VERSION 1.4

Comparison of Detailed Consumption Categories
Comparison of Detailed Industries
Comparison of Summary Industries
Data Sources and Estimation Procedures
Demographic Component of the REMI Model
Income Distribution
NAICS Industries for PI⁺ Hierarchical v1.4
PI⁺ Changes
PI⁺ v1.4 Model Equations
Predicted Revenue & Expenditure Effects v1.4
State and Local Government Employment and Final Demand

PI⁺ VERSION 1.3

Data Sources and Estimation Procedures
Decomposing Policy Effects On Employment, Wages, and Prices By Income Groups
Model Equations
New Estimates of Speed of Adjustment
New Estimates of U.S. Housing Price Elasticities
Predicted Revenue & Expenditure Effects
Reestimating The REMI Migration Equation Coefficients To Correct For Endogeneity
Table of Major PI⁺ Changes – Policy Insight 9.5 through PI+ 1.3

PI⁺ VERSION 1.2

Amendment to Estimating Trade Flow Parameters
Data Sources and Estimation Procedures
Demographic Component of the REMI Model
Detailed Industry Changes
Estimating Trade Flow Parameters
Income Distribution
Industries
Predicted Revenue & Expenditure Effects v.1.1.7
State and Local Government Employment and Final Demand
Table of Major Changes: Policy Insight 9.5 through PI⁺ 1.2
Translator Methodology

PI⁺ VERSION 1.1

Consumption Categories
Consumption Elasticities
Detailed Industry Changes
Industries
Introduction to PI⁺ (for existing Policy Insight users)
Model Equations
New Estimates of Compensation Rate Elasticities for U.S. Models
Occupations
Version Changes

PI⁺ VERSION 1.0

Consumption Categories
Consumption Elasticities
Detailed Industry Changes
Industries
Introduction to PI⁺ (for existing Policy Insight users)
Model Equations
Occupations

TranSight

TranSight is the leading software solution for evaluating the total economic effects of transportation policy.

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TranSight Overview

MODEL APPLICATIONS

Grounded in over 20 years of modeling experience, decision-makers depend on TranSight to forecast the short- and long-term impacts of transportation investments on jobs, population, income, and other economic variables.Integrating economics with travel demand modeling, TranSight dynamically demonstrates how transportation makes economies competitive. With TranSight, users test alternative transportation changes and are able to observe the short- and long-term impacts on jobs, income, population, and other economic variables.

TranSight drives home a single message: transportation is the locomotive of economic growth. This approach allows analysts to more fully describe the far-reaching economic and operational effects of transportation projects. By showing the effects of transportation improvement on jobs and economic development, TranSight gives you a voice in setting legislative priorities.

TranSight is a sophisticated modeling tool that integrates travel demand models with the REMI model and is constructed with extensive data on emissions, safety valuation factors, and other data. As with PI+, TranSight is used by government agencies, consulting firms, and universities.

MODEL USERS INCLUDE:

AECOM
Atlanta Regional Commission (ARC)
Cambridge Systematics, Inc.
Houston-Galveston Area Council (H-GAC)
Illinois Department of Transportation
Michigan Department of Transportation
New York State Department of Transportation
Southern California Association of Governments (SCAG)
United States Army Corps of Engineers Great Lakes District

REMI SOLUTIONS CENTER

Tax-PI

The prime tool for evaluating the dynamic economic and fiscal effects of tax and other policy changes.

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Tax-PI Overview

MODEL APPLICATIONS

Based on over 30 years of modeling experience, Tax-PI is a ready-to-use dynamic impact model which captures the direct, indirect, and induced fiscal and economic effects of taxation and other policy changes over multiple years (up to 2060).As states begin to demand better methods for estimating the economic and fiscal impacts of alternative tax scenarios and creating state budgets, they look to experts to respond with sophisticated, flexible, and relevant tools that can meet their needs. States need to thoroughly evaluate both the short- and long-term effects of any tax changes in order to best serve the people. Tax-PI allows government agencies to perform various economic analyses, including budget forecasting, with a model backed by years of dependability and experience.

As the only widely-available dynamic model, decision-makers rely on Tax-PI to demonstrate the economic and fiscal impacts of policy on local and state budgets. As a result, Tax-PI informs and guides policy decisions based on their economic and fiscal impact, such as: state and local tax changes, state and local fiscal budgets, and education and infrastructure investments.

MODEL USERS INCLUDE:

Alaska Department of Revenue
Illinois Department of Commerce
Louisiana Department of Revenue
Massachusetts Department of Revenue
National Education Association
New York State Division of the Budget
Texas Legislative Budget Board
Washington State Legislature

REMI SOLUTIONS CENTER