Economic & Fiscal Impacts of Selected PlaNYC Policies

This economic assessment was prepared for the New York City Office of Long-Term Planning and Sustainability assessing their creation, PlaNYC. PlaNYC was an agenda to “build a greener, greater New York” and one of the main objectives of this agenda was to reduce greenhouse gas emissions by 30 percent below 2005 levels by the year 2030 (the 30×30 goal). For this study, analysts examined five energy policies that required or induced investments by commercial businesses and/or households. A refined version of REMI’s Policy Insight model was used to find that PlaNYC’s 30×30 goal would result in nearly 4,400 new jobs, $760 million in personal income growth, and an additional $750 million in gross regional product and an increase of $38 million in tax revenue for New York City, specifically.

AECOM – PlaNYC Policies [full PDF]

Macroeconomic Impacts of the California Global Warming Solutions Act on the Southern California Economy

The REMI PI+ model was applied in this analysis of the potential regional macroeconomic impacts of a set of ten greenhouse gas mitigation policy options intended to enable the Southern California Association of Governments to comply with the state’s greenhouse gas reduction targets. The PI+ model was important to this study because it divided the economy into 169 individual sectors so as to allow for important differentials to be analyzed and incorporate labor and capital market features, as well as trade with other states or countries. The macroeconomic analysis results indicated that, as a group, the recommended greenhouse gas mitigation policy options yield a net positive impact on the Southern California Association of Governments Region’s economy in terms of employment but a slightly negative impact on gross domestic product.

Southern California Association of Governments – Macroeconomic Impacts of the California Global Warming Solutions Act on the Southern California Economy [full PDF]

Economic Role of the El Paso Border Crossings

A customized model developed by REMI was used in this study to establish the total economic significance of the border ports of entry in the El Paso region. Researchers conducted a simulation of two scenarios symbolizing a reduction in border dependent business employment, the first a 50 percent reduction in employment and the second an 80 percent reduction. It was determined that both scenarios would have significant impacts on the regional economy as a 50 percent reduction would result in a loss of almost 450,000 jobs and an 80 percent reduction would see approximately 808,000 jobs lost in the border dependent sectors. A further breakdown of each city’s total economic impacts followed this analysis to show the specific studied areas that would be hit hardest and why the impact of these border crossings would be so substantial.

Cambridge Systematics – Economic Role of the El Paso Border Crossings [full PDF]

Act 128 Health System Reform Design: Achieving Affordable Universal Health Care in Vermont

The Vermont Legislature passed Act 128 and commissioned this report because they recognized that they must find systematic solutions to the intertwined problems of cost and access that were within Vermont’s broken health system. Act 128 set forth the clear and ambitious goals to achieve universal health insurance coverage, provide every Vermont resident with an adequate standard benefits package and equal access to health care, control rapidly escalating costs, and establish a primary care-based integrated health care delivery system that focuses on prevention and wellness. The research team designed three options for health system reform in order to determine which best achieved the agreed upon goals. REMI developed several models for this report to determine the effects of the proposed reforms on Vermont’s economy, focusing on charges in public health care spending, changes in employer and employee health care spending, and changes in household health care spending.

Harvard University – Act 128 Health System Reform Design: Achieving Affordable Universal Health Care in Vermont [full PDF]

Connecticut Economic Strategic Plan

The Connecticut Department of Economic and Community Development used the REMI Policy Insight model for numerous analyses of the economic status of the entire state of Connecticut. The REMI model provided data and projections to the analytical approach of the study and assessed the economic impacts of a variety of Connecticut sectors and industries. For example, software from REMI helped conduct a counterfactual analysis to determine the impact of culture and tourism on the Connecticut economy, finding that the total direct, indirect, and induced economic impact of Connecticut’s culture and tourism industries generated $14.06 billion in gross state product and contributed $9.1 billion in personal income.

Connecticut Department of Economic and Community Development – Connecticut Economic Strategic Plan [full PDF]