The Connecticut Department of Economic and Community Development (DECD) compiled their annual report for the 2018 year that used the REMI Tax-PI model to evaluate the success of their individual development programs in terms of total economic impact. The impacts of the DECD’s funding and efforts in business development, brownfield remediation, historic preservation, tourism, and the arts were analyzed and explained to display the value of improved practices and focus. Different from previous reports, the 2018 annual report determined the total economic impacts of DECD programs, as well as the direct impacts, which are the tax revenues generated by created jobs and capital investments net of the cost of the assistance to the state. The report also outlined all of the employment indicators and alterations to gross state product associated with the DECD’s programs from FY2018.
Connecticut Department of Economic and Community Development – 2018 Annual Report [full PDF]