Navajo Generating Station and Kayenta Mine: An Economic Impact Study

The L. William Seidman Research Institute at Arizona State University prepared a report for the Salt River Project and the Navajo Nation that examined the direct, indirect, and induced economic impact of the Navajo Generating Station and Kayenta Mine for the period 2011-2044 at the county and state level using an Arizona-specific version of the REMI regional forecasting model. During that time period, the operation of both facilities accounts for approximately 112,720 full-time or equivalent job years throughout Arizona, including 32,912 direct job years and creates significant indirect job creation in the retail trade, health care, and construction sectors. Researchers found that gross state product and real disposable income were higher than the baseline scenario with the operation of both facilities and that the principal beneficiary of the economic impacts was the host county for each facility.

Arizona State University – Navajo Generating Station and Kayenta Mine: An Economic Impact Study [full PDF]

Analysis of the Macroeconomic Impacts of the Proposed Champlain Hudson Power Express Project in New York

London Economics International LLC analyzed the potential economic benefits of the Champlain-Hudson Power Express project, a 333-mile underwater and underground HVDC transmission line that will deliver 1,000 MW of clean, low-cost energy into the New York City market, in terms of the employment and impacts on Gross Domestic Product to New York State. Analysts used the REMI PI+ model to measure the construction period and commercial operations period impacts. They found that the economic activity that will be generated by the construction phase will create an average of more than 1,200 indirect and induced jobs and will increase New York’s gross domestic product by nearly $150 million per year. The operations phase was found to produce an average of nearly 2,400 indirect & induced jobs over the first 10 years of full operations of the Champlain-Hudson Power Express project and will also benefit the New York economy by increasing the gross domestic product by an average of approximately $600 million per year from 2017 to 2026.

London Economics International LLC – Analysis of the Macroeconomic Impacts of the Proposed CHPE Project in New York [full PDF]

Economic Impact Assessment of the Deepwater Horizon Oil Spill

Before declining in the second half of 2011, it appeared that the Mississippi Gulf Coast economy received a slight overall boost from activities related to the Deepwater Horizon oil spill in 2010 and the beginning of 2011. The decline in leisure tourism were offset by cleanup activities and direct payments from BP, but the negative tourism impact continued as cleanup activities and BP payments waned. Employment increased by approximately 1,400 in 2010 and 1,100 in 2011 and personal income improved by $277 million in 2010 and $215 million in 2011 due to compensation from BP for businesses’ and households’ documented lost income. Plans for restoration activities were formed and set to be executed throughout the Gulf of Mexico thanks to $1 billion in funding from BP that would be allocated to projects such as an oyster restoration project in the Mississippi Sound and an artificial reef habitat project across the Mississippi coast.

Mississippi Research Consortium – Economic Impact Assessment of the Deepwater Horizon Oil Spill [full PDF]

The Economic and Fiscal Impacts of Adriaen’s Landing

The Capital City Economic Development Authority asked the Connecticut Department of Economic and Community Development to conduct an economic and fiscal impact study of the complete Adriaen’s Landing complex, namely the Connecticut Convention Center, the Marriott Hotel and the Westside Parking Garage, and the future Science Center and Front Street developments. The REMI model was used to generate the total economic impact (direct, indirect, and induced) of Adriaen’s Landing. For the study period (1999-2030), total employment in Hartford County in a given year was found to be 1,680 jobs higher than the baseline forecast on average, that is, with the developments than without them and total employment in the state in a given year was found to be 1,852 higher than the baseline forecast. The average annual increase in personal income in 2006 dollars for Hartford County residents would be $77.8 million, and $110 million for the state as a whole.

Connecticut Department of Economic and Community Development – The Economic and Fiscal Impacts of Adriaen’s Landing [full PDF]

The Economic Impact of Hiking Taxes to Close the Budget Gap

The Washington Research Council (WRC) used their WRC-REMI model to quantify the potential impacts of increases in the sales and business & occupation (B&O) tax rates on the state economy. Four tax scenarios were examined for this report: a permanent state sales tax rate hike from 6.5% to 7.3%, a raise of the state sales tax to 8.6%, an increase to the B&O tax that generates the same revenue as increasing the sales tax to 7.3%, and a B&O tax hike that generates the same revenue as increasing the sales tax to 8.6%. While modeling the impacts of each scenario, researchers were able to illustrate the general property that the negative effects of taxes on employment build over time to a greater extent than the positive effects of spending due to the effects of taxes on population migration and business location.

Washington Research Council – The Economic Impact of Hiking Taxes to Close the Budget Gap [full PDF]