Modeling the Economic, Demographic, and Climate Impact of a Carbon Tax in Massachusetts

The Committee for a Green Economy commissioned a study by REMI exploring whether or not a carbon tax in Massachusetts could improve the state economy, create more jobs, and protect low-income households while also lowering the Bay State’s carbon footprint. The analysis determined that the optimal method of meeting those goals was an even split in subsequent tax reductions, with 50% of the revenue split towards lowering state corporate income taxes and 50% split into 25% to lower income taxes and 25% to a lower general sales tax. A $15 tax, a $30 tax, and a $45 tax on each metric ton of carbon emitted were considered in this report and it was explained that a higher carbon tax produced more benefits, with the $45 tax scenario collecting $2.5 billion per year in revenue as it reduced carbon emissions by 8 million metric tons a year.

Regional Economic Models, Inc. – Modeling the Economic, Demographic, and Climate Impact of a Carbon Tax in Massachusetts [full PDF]

Study of the Economic Impact of Virginia Public Higher Education

This study examined the effect of the public higher education sector on Virginia’s economy by incorporating several components using the REMI PI+ model. The study intended to provide a full accounting of the current flow of economic activity in Virginia that could be directly tied to the expenditures and educational activities of publicly supported institutions of higher education, present a “what if” analysis of the additional economic impact that would result from an initiative to increase over the next decade the number of undergraduate and graduate degrees awarded by Virginia public institutions from current levels, examine the broader economic benefits that were reasonably attributed to activities of post-secondary institutions, and catalogue economic gains that occurred as a result of public higher education activities in the areas of industrial attraction, entrepreneurship, innovation, extension, workforce development, and neighborhood revitalization. Measured in terms of net present value, the total economic footprint attributable to one year of higher education operations was $23.976 billion in Virginia gross domestic product and those same operations also sponsored 144,550 jobs in the state.

Weldon Cooper Center for Public Service – Study of the Economic Impact of Virginia Public Higher Education [full PDF]

Nevada County Population Projections 2008 to 2028

The REMI model was used in this report to project the population of Nevada and its 17-counties beginning in 2008 through 2028 and the report was produced during a period when the state was experiencing economic challenges from the housing bubble and increasing energy costs. The REMI model projected strong growth across the majority of Nevada’s counties and for the total state population, to the amount of 1.3 million additional people by 2028. At the time of this report’s production, there were 52 construction projects without a starting or completion date, which further added to the projection and population complications. Analysts also selected three scenarios that showed very different outcomes for the Las Vegas Hotel and Gaming Industry based on those uncertain construction efforts and their effects on capacity and employment.

Nevada State Demographer’s Office – Nevada County Population Projections 2008 to 2028 [full PDF]

Mayor’s Green Building Requirements: Economic Impact Report

This report focused on proposed legislation that would set the first requirement for green building construction standards on privately-owned buildings in San Francisco and mandated higher standards in nearly every sector of the city’s construction industry. The Office of Economic Analysis’s REMI model of the San Francisco economy allowed the direct impacts of the proposed legislation to be understood in terms of macroeconomic variables like total spending in San Francisco, total employment, and per capita income. Low, medium, and high estimates of construction cost premiums were modeled and compared against REMI’s baseline projection represented how the city’s economy would be expected to change without the policy. All of the negative economic impacts peak in the 2012-2014 period, and decline afterwards.

San Francisco Office of Economic Analysis – Mayor’s Green Building Economic Impact Report [full PDF]

Tri-County Growth Management Plan: Atlas of Existing Conditions 5.0: Economy and Jobs

The REMI PI+ model was used in this comprehensive report on the overall demographic and economic impacts that military realignments would have on the tri-county region of Okaloosa, Santa Rosa, and Walton counties in Florida. The population impacts found were fairly substantial as the region would add nearly 11,000 residents as a result of realignment activities, including military personnel, associated family members as well as others whose move to the area was induced by the realignments. Realignment activities would also create an additional $1.5 billion in demand for goods and services by 2015 and the impact on gross regional product would approach $1 billion in that same time frame. This analysis also found substantial impacts in the professional and technical services sector, along with the construction, retail trade, and administrative and waste services. Healthcare and social assistance would also b up nearly 600 jobs over the baseline by 2015 as a result of realignment activities.

Matrix Design Group – Tri-County Growth Management Plan: Atlas of Existing Conditions 5.0: Economy and Jobs [full PDF]