Housing Underproduction in the U.S.

This study conducted by Holland Government Affairs, Up for Growth, and ECONorthwest was the first to implement the REMI model in order to simulate large-scale housing development. The analysis simulated three growth scenarios: More of the Same, Max Density, and Smart Growth. These scenarios helped identify which housing production approach might yield the highest economic benefits and modeling these found that the “Smart Growth” approach would generate $400 million of additional GDP compared to “More of the Same.” The “Max Density” simulation produced the greatest benefits, but is the least politically feasible in terms of a policy solution due to it requiring radical restructuring of existing land-use and zoning policies.

Holland Government Affairs, Up for Growth, ECONorthwest – Housing Underproduction in the U.S. [full PDF]

Tampa Interstate Study (TIS) Supplemental Environmental Impact Statement (SEIS): Economic and Fiscal Impact Analysis

The Tampa Bay Regional Planning Council (TBRPC), under contract with the Florida Department of Transportation, used the REMI TranSight model to analyze alternative project designs that would alleviate congestion in the Tampa Bay Area. This independent Economic Impact Analysis of the Tampa Interstate Study (TIS) Supplemental Environmental Impact Statement (SEIS) evaluated three economic scenarios: No Further Action, Non-Tolled Express Lanes, and a Tolled Express Lane. The TBRPC implemented the TranSight results, local data and plans, and the Tampa Bay Regional Planning Model outputs into their analysis to assess the prospective impacts of TIS SEIS on Community Redevelopment Areas, which then allowed them to extend the countywide analysis in the scenarios to those areas.

Tampa Bay Regional Planning Council – Tampa Interstate Study (TIS) Supplemental Environmental Impact Statement (SEIS): Economic and Fiscal Analysis [full PDF]

Connecticut Department of Economic and Community Development Annual Report 2018

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]

RGGI Program Review: REMI Modeling Results

ICF set out to review the Regional Greenhouse Gas Initiative (RGGI) program, an innovative cap-and-trade program that places limits on the overall emission levels for CO2, but allows the affected states to find cost-effective emission reductions through an allowance trading market. This section of the report specifically dealt with the results that were produced by the REMI model. The analysis implemented two broad sets of inputs to model the economic impacts of changes made to the policy, with everything being modeled at the individual state level and the rest of the United States. The results showed that the RGGI region would initially see slight negative economic impacts from the Model Rule Policy Scenario (MRPS) case cap reduction, but quickly grow to small but consistent economic benefits. Although the effect of the RGGI cap decline is generally negative, the cumulative effect is positive due to the total benefits of the allowance proceeds reinvestments.

ICF – RGGI Program Review: REMI Modeling Results [full PDF]

Economic Impacts of Wind Energy Investments in Colorado

The Public Service Company of Colorado (PSCo) proposed a wind project for the state of Colorado and the Leeds School of Business at the University of Colorado Boulder used the REMI model to quantify the economic impacts of this project’s implementation. The Rush Creek Wind Project involved the manufacturing, purchasing, and erecting of 300 new wind turbines in Colorado, in addition to the creation of access roads, installation of transmission lines, pouring of foundations, and construction of substations. The University of Colorado Boulder research team developed economic scenarios to be evaluated with the REMI model that included the rate and spending changes generated by two different scenarios, which were baseline and wind. This created an estimated forecast of the economy under scenarios where utility rates and spending on operating and capital expenditures change, which could then be compared against the baseline scenario to quantify the statewide economic impacts on the Colorado economy.

University of Colorado Boulder – Economic Impacts of Wind Energy Investments in Colorado [full PDF]