June 02, 2020

Forecasting the Economic Impacts of COVID-19 in Northeast Florida: Utilizing REMI PI+ Model



The REMI model and a national forecast prepared by the University of Michigan were incorporated into an evaluation performed by the Northeast Florida Regional Council as they sought out to better comprehend the economic impacts that the outbreak of COVID-19 is imposing on the Northeast Florida region. During their analysis, the Council found that the economic effects of even a “best case scenario” will be severe due to the particular mix of industries present in the region. According to their PI+ model, the region’s industries that will experience the most job losses are Accommodation & Food Service, Health Care, Real Estate, Finance & Insurance, and Construction.

Northeast Florida Regional Council – Forecasting the Economic Impacts of COVID-19 in Northeast Florida: Utilizing REMI PI+ Model [full PDF]