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]

Economic Impacts of Utah’s Life Sciences Industry

In order to evaluate the indirect and induced effects resulting from direct economic activity in Utah’s life sciences industry, researchers at the Kem C. Gardner Policy Institute at the University of Utah utilized a 70-sector REMI PI+ model. They incorporated the model to estimate the amount of Utah life sciences output sold in state, out of state, and outside the country, as well as estimate new state and local revenues and expenditures. This report, commissioned by the Utah Governor’s Office of Economic Development and BioUtah, describes the state’s life sciences industry in terms of companies, customers, workers, income, output, and growth before presenting the economic impact results, in addition to the state and local fiscal impacts. In 2017, economic impacts in Utah from life sciences companies were 130,439 jobs, $7.6 billion in employee personal income, and $13 billion in GDP. Life sciences companies’ operations in that same year supported a net increase in state and local government revenue of $475.8 million.

University of Utah – Economic Impacts of Utah’s Life Sciences Industry [full PDF]

Puget Sound Regional Transportation Fuels Analysis

The macroeconomic and distributional impacts of compliance with a Puget Sound region Clean Fuel Standard (CFS) on different sectors and nearby regions were modeled using REMI’s E3+ model by ICF. This analysis and its findings indicated that the economic impacts across all four modeled scenarios generated Gross Regional Product and employment impacts of less than 0.1%. ICF’s modeling efforts analyzed the marginal difference that the energy and fuel policies made on the baseline within REMI’s reference case projection of economic growth. Their report was informed by scenario modeling that considered a health impact analysis based on changes in air quality pollutant emissions, various low-carbon fuel strategies, economic impact modeling using the REMI model, and the limitations in the Puget Sound transportation fuels market.

ICF – Puget Sound Regional Transportation Fuels Analysis [full PDF]

Economic Effects of Implementing a Paid Family and Medical Leave Program on the Colorado Economy

House Bill 18-1001 was introduced during the 2018 Colorado legislative session and the bill attempts to establish a paid family and medical leave program that would cover all employees working in the state. The program’s cornerstone is a state-run family and medical leave insurance fund that would be financed by an employee-side payroll tax designed to dispense family and medical leave benefits to eligible individuals. This report that was conducted by the National Federation of Independent Business (NFIB) quantifies the economic impact that implementation of the proposed paid leave program would have on the Colorado economy over a ten-year study period (2020-2029). Researchers used the REMI PI+ model to identify how an employee-side payroll tax could generate nearly 23,000 lost jobs, a reduction of $3.7 billion in personal income, a cumulative loss of $19.3 billion in real state gross domestic product, and the out-migration of over 20,000 citizens from Colorado.

National Federation of Independent Business – Economic Effects of Implementing a Paid Family and Medical Leave Program on the Colorado Economy [full PDF]

Senate Bill 181: The Statewide Cost of Prohibitions, Restrictions and Regulatory Uncertainty in Colorado’s Energy Sector

The REMI Partnership conducted an analysis of Colorado Senate Bill 181 (SB-181), which is intended to promote health and safety in the state as it increases local involvement in the oil and natural gas development permitting process. With this report, the REMI Partnership sought out to inform policymakers of the jobs, economic, and tax considerations that accompany a large-scale oil and natural gas reform bill like SB-181. The REMI Tax-PI model was used in this analysis to show the direct and dynamic impacts to the Colorado economy for each simulated scenario. The report identified that substantial short-term and ongoing reduction in the new oil and gas production would have consequences that resonate throughout the state, estimating losses of tens of thousands of jobs and billions of dollars in tax revenue.

REMI Partnership – Senate Bill 181: The Statewide Cost of Prohibitions, Restrictions and Regulatory Uncertainty in Colorado’s Energy Sector [full PDF]