Final Socioeconomic Report for Proposed Amended Rule 1156-Further Emission Reductions from Aggregate and Cement Manufacturing

The proposed amendments to Rule 1156-Further Emission Reductions from Aggregate and Cement Manufacturing would reduce particulate matter as well as hexavalent chromium emissions from cement manufacturing facilities. A socioeconomic assessment was conducted by the South Coast Air Quality Management District using the REMI model to analyze the secondary and induced impacts of this proposed amended rule. The projections showed an average of four jobs lost annually, which was an insignificant loss to the four-county study area. They also detailed that only two facilities, one in Riverside County, one in San Bernardino County, would be affected by this proposed rule, but the effect of these new provisions would have few impacts on the relative cost of production and delivered price compared to their national counterparts.

South Coast Air Quality Management District – Final Socioeconomic Report for Proposed Amended Rule 1156-Further Emission Reductions from Aggregate and Cement Manufacturing [full PDF]

Assessing the Economic Impact of the AOK Family Child Care Licensing Program

The Connecticut Center for Economic Analyses at the University of Connecticut used the REMI platform to conduct an economic impact study on the All Our Kin, Inc. Child Care Licensing Program that addressed the New Haven area’s increasing need for affordable, high-quality child care. This evaluation demonstrated that in both helping graduates increase their household incomes and facilitating access to child care and thus permitting more parents to enter the workforce, the program’s initiatives resulted in average annual benefits of $7.2 million in Connecticut’s gross state product, $7.4 million in New Haven’s gross regional product, and $12.5 million net fiscal impact. The most impressive finding was that the aggregate impact of the program was achieved at a very modest cost as every $1 of programmatic expense resulted in between $15 to $20 of macroeconomic benefit.

Connecticut Center for Economic Analyses – Assessing the Economic Impact of the AOK Family Child Care Licensing Program [full PDF]

Analysis of Economic Impacts of New York Corporate Income Tax Reform

EY prepared a study for the Public Policy Institute, research affiliate of the Business Council of New York State, Inc., using the REMI model to provide estimates of the expected benefits to New York State’s economy and residents from the recommended business tax changes designed to simplify the tax system and improve New York’s business tax competitiveness. The specific business tax reductions included in the economic impact analysis were a reduction in the corporate franchise tax, and an adoption of a new business tax credit designed to offset 20% of the property taxes paid by manufacturers on real property. Analysts found that the business tax changes were expected to add over 14,100 new jobs in 2019 and 17,800 new jobs in 2024 and expand the state’s real gross domestic product by over $1.8 billion in 2019 and $2.7 billion in 2024.

EY – Analysis of Economic Impacts of New York Corporate Income Tax Reform [full PDF]

Economic Impacts of the Proposed Maine Power Reliability Program

The Maine Power Reliability Program sought out to significantly revamp much of the high voltage transmission system in central and southern Maine so as to increase reliability in the future and to meet Federal standards for the nation’s electricity grid. The estimation of economic impacts from this project was done using the models of seven regions within Maine developed by REMI and maintained by the Maine Center for Business and Economic Research. Employment impacts would average 2,131 annually over the four year period of 2009-2012, with peak employment impacts over 3,300 in 2010. Wages and salaries in Maine would increase by a total of $241.6 million, or $60.9 million per year. The total value of goods and services produced in Maine over 2009-2012 would be larger by $350.1 million, an average annual increase of $87.5 million.

University of Southern Maine – Economic Impacts of Maine Power Reliability Program [full PDF]

Measuring the Economic Impact of the NEEWS Project in Connecticut and Western Massachusetts

This study demonstrated the economic impact of proposed improvements to the electricity transmission system in Connecticut and Western Massachusetts for the New England East-West Solution transmission project. REMI used the Policy Insight model developed specifically for the state of Connecticut and Western Massachusetts regions to evaluate the impacts of direct capital expenditures, electricity price increases, and business and household benefits resulting from the savings incurred from an estimated reduction in Connecticut congestion and related charge fees and from the savings in Reliability-Must Run fees in Western Massachusetts. While the rate increases used to finance the NEEWS project initially dampened economic activity, the study showed overall net economic benefits due to the positive effect of construction expenditures and improved business competitiveness from the savings in congestion and Reliability-Must Run fees. Positive benefits to customers were realized under the scenarios that included the greatest Connecticut congestion charge savings because the actual electric bill paid by the customer declined.

Regional Economic Models, Inc. – Measuring the Economic Impact of the NEEWS Project in Connecticut and Western Massachusetts [full PDF]