Housing Underproduction in Oregon: Economic, Fiscal and Environmental Impacts of Enabling Transit-Oriented Smart Growth to Address Oregon’s Housing Affordability Challenge

This joint report that was produced by ECONorthwest and Up for Growth Oregon assessed how many housing units should have been built in Oregon, one of America’s fastest-growing states, during the time period of 2000-2015. Oregon has strong land-use policies that protect forests and farmland, while also governing growth management, so the state must use the land inside each growth boundary wisely. The report’s conclusions support the importance of enacting innovative public-private solutions that aim to increase the supply and reduce the costs of new housing being added to urban centers. Researchers utilized the REMI model in this analysis to compare and contrast housing growth scenarios. They discovered that both simulations that were implemented led to significant economic benefits for Oregon’s economy as improved housing production reduces housing prices, increases personal income and spending, and supplements GDP and job creation.

ECONorthwest, Up for Growth Oregon – Housing Underproduction in Oregon: Economic, Fiscal and Environmental Impacts of Enabling Transit-Oriented Smart Growth to Address Oregon’s Housing Affordability Challenge [full PDF]

The Economic, Fiscal, and Emissions Impacts of a Revenue-Neutral Carbon Tax

This assessment completed by FTI Consulting, Inc. for the Alliance for Market Solutions evaluated the impact of a carbon tax on the federal budget, carbon dioxide emissions, U.S. and state economies, and major industries from 2019 through 2028 by analyzing the baseline scenario and a scenario with a national carbon tax implemented. FTI Consulting used data and results from their analyses incorporating the PLEXOS electricity model and the Carbon Tax Assessment Model as inputs in the REMI model. Doing this allowed researchers to generate the economic impact of a national carbon tax and tax reforms, including demand for fossil fuel inputs, EITE rebates, and capital investments in the power generation sector. The comprehensive results from this evaluation were compiled and explained in terms of fiscal, economic, emissions, power sector, state, and industry impacts. By 2028, the carbon tax and reforms would have little effect on gross domestic product and the federal deficit while considerably reducing carbon dioxide emissions and improving air quality in the United States.

FTI Consulting, Inc. – The Economic, Fiscal, and Emissions Impacts of a Revenue-Neutral Carbon Tax [full PDF]

Population Forecasts: Long-Term Projections for Clark County, Nevada 2018-2060

The REMI model was incorporated into the yearly forecast of Clark County, Nevada’s population growth that was conducted by the Regional Transportation Commission of Southern Nevada (RTC), the Southern Nevada Water Authority (SNWA), the Southern Nevada Regional Planning Coalition (SNRPC), the Center for Business and Economic Research (CBER) at the University of Nevada, Las Vegas, and a group of community demographers and analysts. After recalibrating the model to incorporate the most recent information regarding local employment growth and local investment projects, the corresponding forecast showed positive population growth throughout the range of the projections. This long-term population forecast remained consistent with previous forecasts, predicting Clark County’s population rises to approximately 2.67 million by 2035 and to around 2.90 million residents by 2060.

University of Nevada, Las Vegas – Population Forecasts-Long-Term Projections for Clark County, Nevada 2018-2060 [full PDF]

Kansas City Incentives Study

The Kansas City Incentives Study was conducted by the Council of Development Finance Agencies (CDFA) for the City of Kansas City, Missouri in order to provide a data-driven evaluation of the impact of the City’s economic development incentives. This evaluation analyzed the 10-year performance of key programs employed by the City to promote redevelopment and job creation from multiple critical perspectives: economic impact of the incentives and total investments made by the City, geographic analysis of where real estate investments were made, and systems and procedures for managing incentive programs. This analysis utilized a three-region REMI model to assess the economic impact for increased income, increased employment opportunities, increased investment, and the increased valuation of real estate. Researchers and analysts found that approximately 23,430 jobs were created during the study period of 2006-2015 and per capita income rose by an average of $3,906. Overall, the Kansas City Incentives Study discovered a positive result in the economic analysis as the City experienced increases in construction spending, employment, wages, and private business operations resulting from incentivized activity.

Council of Development Finance Agencies – Kansas City Incentives Study [full PDF]

The Projected Economic and Fiscal Impact of the Big River Steel Project in Arkansas

This REMI Tax-PI analysis of the Big River Steel Project in Osceola, Arkansas of Mississippi County for the Arkansas Bureau of Legislative Research discovered that the $1.1 billion investment required for this build would generate approximately $400 million in additional annual gross domestic product during construction and about $150 million more in additional gross domestic product in the following years. It would also create almost 3,500 jobs during construction and about 1,300 during operations, but the fiscal impact forecast ended up more mixed based on the exact size of the incentives offered and the higher “carrying costs” to the state economy for having more jobs, GDP, and population. The recycling tax credit involved in this project also created economic growth problems as it turns what would be a positive fiscal impact to the state economy into a negative one with its inclusion into this development. Overall, opening and operating this steel plant would have a larger effect on the state’s economy than increasing state taxes or decreasing spending in an attempt to level out the budget.

Regional Economic Models, Inc. – The Projected Economic and Fiscal Impact of the Big River Steel Project in Arkansas [full PDF]