Economic Analysis of a Hurricane Event in Hillsborough County, Florida: Category 3 and 5 Hurricane Events

This report was created by the Tampa Bay Regional Planning Council to present the results of an economic impact analysis of a simulated catastrophic event(s) in Hillsborough County, Florida. Four scenarios were analyzed and modeled for this study: Category 5 Hurricane with Normal Recovery Rates, Category 5 Hurricane with Accelerated Recovery Rates, Category 3 Hurricane with Normal Recovery Rates, and Category 3 Hurricane with Accelerated Recovery Rates. The REMI Policy Insight model was used in this study to analyze and estimate the economic impacts of each of the four scenarios on the county. The Category 5 scenarios resulted in net impacts from employment losses and spending gains peaking at 240,000 jobs in year 3 under normal recovery and 277,000 jobs under accelerated recovery. The Category 3 scenarios generated net impacts of 2,000 jobs under normal circumstances and 43,000 at an accelerated recovery rate.

Tampa Bay Regional Planning Council – Economic Analysis of a Hurricane Event in Hillsborough County, Florida [full PDF]

The Economic Impact of the Higher Education System of the State of Oklahoma

Using a model of the State of Oklahoma and data provided by the Oklahoma State Regents for Higher Education, REMI evaluated the contributions of higher education on Oklahoma from 2008 to 2048. The results of this analysis demonstrated the state’s economic dependence upon higher education and its graduates. The study showed that by 2048 the different aspects of higher education would contribute to over 23% of Oklahoma’s economy. Such a large contribution over time resulted in small investments in 2008 yielding large returns in the future, as one dollar from the state enabled $5.15 of additional economic activity that was directly attributable to the activities linked to higher education institutions. That initial investment of one dollar actually yielded $27.07 over the analysis period as the effects of graduate earnings and productivity made their mark on the economy.

Regional Economic Models, Inc. – The Economic Impact of the Higher Education System of the State of Oklahoma [full PDF]

Eastern Montana County Level Population Projections

The Census and Economic Information Center at the Montana Department of Commerce utilized a REMI population projections product that forecasted annual county-level population projections for the state’s 4th District out to 2060 for this study examining the effect of oil production scenarios on population and migration. The five scenarios modeled were the baseline projections in the REMI model, the lowest level, the medium-low level, the medium-high level, and the highest level of oil production within eastern Montana. The goal of the study was to allocate the projected growth of the region based on the two higher oil production scenarios to the 16 counties using county level projections as a base to maintain the unique growth trend of each county.

Montana Department of Commerce – Eastern Montana County Level Population Projections [full PDF]

AUTO21 Network of Centres of Excellence Impact Assessment of the Research & HQP Programs for Selected Projects in the Period 2001-2009

AUTO21, Canada’s national automotive research network, retained the Center for Automotive Research to independently assess the impacts of AUTO21’s project funding and estimate the economic and societal net contributions made by the research and development projects funded by AUTO21. Using the REMI model, this report examined 62 research projects contained within AUTO21’s research portfolio and estimated the research network’s benefits to the Canadian economy to be 1,600 highly qualified personnel trained, a 12:1 return on investment based on public and private sector funding, $1.124 billion in total economic and societal benefits, and 2,200 jobs created or retained. The AUTO21 program was found to create economic and educational opportunities as well as sizeable societal benefits for the public and industry alike in addition to providing a business incentive for automotive companies to locate in Canada.

Center for Automotive Research – AUTO21 Network of Centres of Excellence Impact Assessment of the Research & HQP Programs for Selected Projects in the Period 2001 – 2009 [full PDF]

The National and Regional Macroeconomic Effects of Transportation Policies in the American Recovery and Reinvestment Act

REMI used a dynamic eight-region TranSight model to examine the overall economic effects of the Department of Transportation components of the American Recovery and Reinvestment Act. We showed the respective macroeconomic impacts of these eight regions for seven major programs: highway infrastructure investment; public transit; Amtrak; high-speed rail; aviation; shipyards and merchant marine; and discretionary funding. With the assistance of more detailed travel demand and consumer behavior data, state and local governments and Metropolitan Planning Organizations can use dynamic macroeconomic models to estimate the long-term benefits of potential projects, realized as efficiency and transportation cost savings. Policymakers will then be able to identify and invest their stimulus dollars in projects that will yield the greatest long-term benefits, minimizing wasteful spending.

Regional Economic Models, Inc. – The National and Regional Macroeconomic Effects of Transportation Policies in the American Recovery and Reinvestment Act [full PDF]