Economic Impacts of Superfund Remediation Alternatives

A recent study co-authored by NERA Economic Consulting experts evaluated the economic impacts of remediation alternatives proposed by the US Environmental Protection Agency in 2016 for the Portland (Oregon) Harbor Superfund Site.

The study, which was published in Integrated Environmental Assessment and Management, used the REMI model to evaluate the impacts of these alternatives on the Portland regional economy, as measured by jobs, gross regional product (GRP), personal income, and population.

The study was careful to evaluate both the positive effects of expenditures and the negative effects of local financing for these expenditures. Using EPA information on remediation expenditures, the study concluded that all alternatives would lead to negative impacts, but the negative impacts were substantially greater for the more expensive alternatives.

The consultants at NERA and their co-authors at ExxonMobil Environmental Services used REMI’s PI+ model. To read the full report, click on this link.

Amazon HQ 2.0: Understanding the Local Impacts

The contest to lure Amazon’s second headquarters raises many questions about economic development and incentives. REMI is joining forces with the Council for Community and Economic Research (C2ER) to offer a special webinar examining Amazon HQ 2.0 from different perspectives.

The webinar, set to be held on Tuesday, August 21st from 2 to 3 p.m. EST, will bring together three different speakers to address the potential fiscal and economic implications for the community that successfully attracts the online retailer.

Robert T. Carey, Ph.D., Director of Clemson University Regional Economic Analysis Laboratory, will offer a broad overview of how an Amazon headquarters would affect a state or local economy, while Hector Vielma, Ph.D., Senior Economist at the Illinois Department of Revenue, will focus on the potential impacts on one city on the short list – Chicago.

Following their talks, REMI Senior Economist Peter Evangelakis, Ph.D. will delve into the methodology behind these types of analyses.

C2ER is a membership organization that promotes community and economic research and represents research professionals from economic development organizations, chambers of commerce, government agencies, and other organizations. For more information, please visit C2ER’s website by clicking here.

Educational Attainment and the Economy

If Colorado’s educational attainment matched its future workforce needs, the increase in value from the improved education system would add an additional $12.5 billion over 10 years, according to a new study released by Colorado Succeeds and Common Sense Policy Roundtable that used REMI economic modeling.

The report, titled “What if Colorado Schools Were No. 1 – A Business Guide for Colorado’s Next Governor,” showed the estimated effects if the state’s high school graduates obtained the level of post-secondary education considered necessary to meet future demand.

You can click here to read the full report.

Kristin Strohm, Executive Director of the Common Sense Policy Roundtable, said in an interview with the Denver Business Journal [article behind paywall] the study’s authors were able to estimate future economic impacts from higher graduation rates using REMI’s dynamic economic modeling.

Would Universal Basic Income Work?

Concern about slow wage growth and rising inequality has revived interest in a potentially dramatic solution – universal basic income.

Members of the Council of the District of Columbia requested their Office of the Budget Director examine ways DC could ensure that residents receive an adequate income. The office used the REMI model in preparing an analysis of the economic costs and benefits of a minimum income or universal basic income.

You can read the full study by clicking here.

The reported, titled “Economic and Policy Impact Statement: Approaches and Strategies for Providing a Minimum Income in the District of Columbia”, was produced by the researchers, Susanna Groves and John MacNeil with Anne Phelps and Joseph Wolfe.