Cenovus Energy Economic Impacts in Ohio

Cenovus Energy commissioned the Vestian Global Solutions team to estimate their economic impact in the state of Ohio utilizing a custom REMI PI+ model.  Cenovus operates an office location in Dublin and two refineries in the state, located respectively in Lima and Toledo. The data used to complete this study included operations, turnarounds, and the refined products delivered to users, including gasoline, jet fuel, and asphalt. Turnarounds are regular cycles of updates to plant and equipment, represented by spending data.  

The PI+ model utilized in the study included Allen, Lucas, and Franklin counties, as well as the rest of the state of Ohio, and forecasted direct, indirect, and induced jobs created, change in GDP, change in income, and change in outcome as the output variables. These results showed that employment is higher at the Toledo versus the Lima refinery, which the staff at REMI determined was caused by high leakage due to cross-border economic interactions in Toledo. Overall, both refineries were found to have significant impacts on the state economy, creating 23,427 jobs and over $2 billion in personal income. 

Read the full study here. 

Proposal to Replace School Property Taxes

The Pennsylvania Independent Fiscal Office (IFO) utilized the REMI model to evaluate a proposal to eliminate school district property taxes and replace the revenue with increases in income and sales taxes. Under this proposal, personal income tax would rise from 3.07% to 4.95%, sales tax would increase from 6% to 8% on the current tax base, and a new 2% sales tax would be applied to clothing, candy, and gum. The study forecasted the economic and fiscal impacts over a ten-year window.

The REMI dynamic model estimated the macroeconomic implications of the tax change. The analysis indicated negative employment, population, and labor force impacts. This is attributed to the fact that the higher income and sales taxes would have a greater effect on economic incentives to live and spend in Pennsylvania than the lower property taxes. The results further showed the year-by-year effects on personal income and sales taxes, with the negative economic impacts shrinking their respective tax bases and thereby somewhat dampening their static revenue gains.

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Nevada County Population Projections 2025 to 2044

Every year, the Nevada State Demographer at the Nevada Department of Taxation uses the REMI model to forecast 20-year population projections for Nevada and its counties. For the 2025 version of this report, the Nevada State Demographer forecasted growth rates below 1% for the next two decades and a gradual increase in population in Carson City. The report also anticipates changes in population demographics, including age, sex, race, and ethnicity. Investment projects will increase employment across various sectors, such as motor vehicles and parts, food manufacturing, and wholesale trade. 

To guide these developments, Carson City has proposed a master plan to set land-use and development priorities. Strong community planning efforts focused on gradual growth indicate that Carson City will be well-positioned to meet future needs and opportunities. 

Click here to view the full report. 

New York’s Nuclear Fleet Economic Impact Report

Carbon Free New York commissioned The Brattle Group to conduct an impact report focused on New York’s nuclear power fleets. The nuclear power centers included in this study are the R.E. Ginna Clean Energy Center, Nine Mile Point Clean Energy Center Units 1 and 2, and James A. FitzPatrick Elan Energy Center. The Zero-Emission Credit program, which serves as a financial incentive to generate electricity without greenhouse gas emissions, is set to expire in 2029. New York’s nuclear power fleet powers the state’s economy, supports jobs, and delivers carbon-free and affordable energy. This impact report makes the case for continued support of these facilities.  

A REMI E3+ macroeconomic model was utilized to complete this case study. The analysis compared a base case where all NY nuclear units operate through 2050, to a comparative case, where Ginna, Nine Mile Point 1, and FitzPatrick retire in 2029, and Nine Mile Point 2 retires in 2032. REMI was used to evaluate changes in tax revenue, employment, and CO2 emissions if New York continued to operate the nuclear units. 

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Kansas Advanced Air Mobility Strategy

Multiple organizations in Kansas, as well as MITRE Corporation, all collaborated to conduct the 2025 Kansas AAM (Advanced Air Mobility) economic impact study. AAM is an emerging technology that advances the aerospace sector to reduce congestion, enhance accessibility, and provide more efficient transportation. They have the potential to drive economic development, increase regional connectivity, modernize transportation, and improve safety. This technology will be applicable to a wide range of industries across Kansas and will have profound economic impacts on the region.

The study used a REMI PI+ model for macroeconomic analysis and regional forecasting. REMI was utilized to project the effects of this transformative technology on GDP, personal income, and employment in Kansas.

Click here to view the full report.