The Longevity Economy® Outlook

AARP and The Economist Intelligence Unit used the REMI model to expand upon their previous reports covering the economic impact of the 50-plus population and forecast these impacts out to the year 2050. The REMI model allowed for analysts to generate a comprehensive projection of the 50-plus population’s economic impact in terms of gross domestic product, employment, wages, taxes, and salaries. In addition to the considerable economic effects already generated by the 50-plus community, researchers found that their contribution could increase greatly with specific alterations made to the products and services offered by private businesses, as well as changes in social attitudes and public policy. This report identifies several “industries of opportunity” before highlighting ways for the public and private sector to capitalize on the bright economic future estimated for the 50-plus population.

AARP with The Economist Intelligence Unit – The Longevity Economy® Outlook [full PDF]

The Economic and Employment Benefits of Expanding Medicaid in North Carolina

In order to analyze the effects and benefits of expanding Medicaid in North Carolina, George Washington University utilized the REMI model to calculate the impact of the economic stimulus of new federal revenue added into the state economy because of the expansion of Medicaid. Researchers on this analysis identified how additional revenue would flow and multiply through North Carolina, which would then boost economic growth and employment. The additional spending on hospital care, ambulatory care, and pharmaceuticals generated by additional federal Medicaid revenue was used as an input in the model to determine how it influences employment, state or county gross product, and county revenue. This report served as an update of a previous report on Medicaid expansion completed in 2014 that aimed to re-estimate the federal revenue inputs to the model with more recent budget data that would then be compared to estimates from the 2014 assessment. George Washington University concluded that, although Medicaid funds flow to the health sector first, economic benefits and employment gains would radiate out to other sectors of the economy.

George Washington University – The Economic and Employment Benefits of Expanding Medicaid in North Carolina [full PDF]

The Economic Contributions of Hutterite Communities in Montana

In a partnership with the Montana State University Department of Economics and Agricultural Economics, the Bureau of Business and Economic Research at the University of Montana studied the economic contributions of the Lehrerleut Branch of Montana’s Hutterite Communities. This report utilized the REMI model to identify the economic impact that Hutterite Communities have on state and local economies as a result of the significant linkages that exist between their agricultural and other operations and the rest of the state economy. Researchers employed the model to calculate the impacts of Hutterite Communities on five regions within Montana (Northwest, North Central, Southwest, South Central, East). The results from this analysis describe the sizable, continuous, permanent impact on the economic livelihoods of thousands of Montanans that Hutterite activities support.

Bureau of Business and Economic Research at the University of Montana – The Economic Contributions of Hutterite Communities in Montana [full PDF]

Independent Assessment of the Economic Impacts of the Florida College System

Florida TaxWatch partnered with the Association of Florida Colleges and the (then) Chancellor of the Florida College System (FCS) to use grant funding from The Helios Education Foundation for an independent, evidence-based analysis to compare the performance of the Florida College System to community colleges in other states. The analysis also sought out to quantify the economic impact of an FCS degree in terms of both personal earnings and economic value to the state. This report incorporated the REMI model to forecast the direct, indirect, and induced economic impacts of the FCS and to calculate Florida’s return on investment. The assessment found increased expected worklife earnings, significant return on the state’s investments, and increased job numbers for Florida’s workforce.

Florida TaxWatch – Independent Assessment of the Economic Impacts of the Florida College System [full PDF]

The Impacts of Illinois Nuclear Power Plants on the Economy and the Environment

The Brattle Group utilized the REMI model to estimate the impact of four nuclear plants in Illinois on the state’s economy, in addition to the emissions of carbon dioxide and other pollutants, over a ten-year period. The impacts were determined by modeling the performance of the regional power system and the Illinois economy with and without the four plants in operation before comparing the two results. The Brattle Group analyzed the results in terms of the impact on electricity price and cost, economic output and GDP, employment, federal and state tax revenues, the electric generation mix, and emissions. This report found that, with an increase in consumer costs and a loss of productive activity, the state would experience a $3.5 billion reduction in annual state GDP, a loss of 28,000 jobs, and a decrease in annual Illinois state tax revenues of $149 millions if the four plants were shut down. The nuclear plants also prevent tens of thousands of tons of air pollutants on an annual basis.

The Brattle Group – The Impacts of Illinois Nuclear Power Plants on the Economy and the Environment [full PDF]