Economic Impact Analysis of the Low-Carbon Fuel Standard Rule for the State of Oregon

This economic analysis of potential Low Carbon Fuel Standards in Oregon was focused on the development and evaluation of potential impacts from a wide range of fuels that could be used in the future to comply with the low carbon fuel standards. The purpose of the standards was to reduce the carbon intensity of transportation fuel used from motor vehicle use in the state and those standards would be accomplished by altering the fuel supply mix from mainly petroleum products to a mix still dominated by petroleum products, but containing a greater portion of lower carbon alternatives such as ethanol, biodiesel, natural gas, and electricity. The report and analysis focused on eight scenarios with different fuel usages and each scenario modeled separate analysis for light duty and heavy duty vehicles. The corresponding modeling was attempting to understand how the demand for transportation fuel was impacted by vehicle technology changes, driving patterns, and fuel choices.

Jack Faucett Associates, Inc. – Economic Impact Analysis of the Low-Carbon Fuel Standard Rule for the State of Oregon [full PDF]

California’s Innovation-Based Economy: Policies to Maintain and Enhance It

The results of a REMI simulation model on the 10-year (2015-2024) span after the implementation of a new $200 million Research & Development credit display an increase in GDP of $7.7 billion and $10.5 billion compared to the California economy without the credit. Overall personal income for Californians would increase by a total of between $7.3 and $10.2 billion by Year 10. As far as the industries most impacted, professional, technical, and scientific services receives the largest residual influx of between $4.2 and $6.2 billion with the manufacturing, real estate, construction, and finance sectors considerably behind technology. California should take bold steps to maintain and enhance its capacity for innovation and the conversion of it into commercial applications, thereby allowing firms to create high-quality jobs in the state and benefitting from the large multiplier effects associated with them.

Milken Institute – California’s Innovation-Based Economy [full PDF]

Linking the MARKAL and REMI PI+ Models

This report outlines the benefits of combining the MARKAL model and the REMI PI+ model to examine the interactions between the energy sector and the wider economy. The REMI and MARKAL models can be integrated both ways, with REMI providing economic and demographic parameters for the MARKAL reference scenario or MARKAL simulating specific energy/environmental policies and generating output variables to be used in REMI. Together, MARKAL and REMI can identify economic, environmental, and technological impacts of projects, as well as identify the most effective policy options excelling in those same stated sectors.

Regional Economic Models, Inc. – MARKAL White Paper [full PDF]

Economic Impact of Faraday Future on Clark County

For the Faraday Future project, the Nevada Governor’s Office of Economic Development requested a custom IMPLAN model to show the impact of large scale projects on employment and the economy and to test the IMPLAN results against the Nevada Department of Taxation’s REMI model’s generated results to ensure that the IMPLAN results were reasonable and accurate going forward. The REMI model found an economic output of more than $81.6 billion over 20 years while the IMPLAN regional growth model estimated an economic output of $87.5 billion over that same time frame.

Nevada Governor’s Office of Economic Development – Economic Impact of Faraday Future on Clark County [full PDF]

Memorandum For Rep. Merrill Nelson: Prison Relocation Analysis

Utah State House Representative Merrill Nelson requested that the Utah Legislative Fiscal Analyst re-evaluate the findings from a study by MGT of America for the Prison Relocation Development Authority on the commercial redevelopment of the Draper state prison. Rep. Nelson also wanted a year-by-year impact for that community development project and the total cost of building a new prison on the existing Draper site, in addition to a comparison of the economic impact of Draper prison reconstruction to other potential sites. The Utah LFA compared the MGT estimates with their own modeling done with the same statistical program used in the study (IMPLAN) and a different statistical program (REMI). The Utah LFA found implicit assumptions in the IMPLAN model that were corrected for the REMI model, producing varied final results.

Office of Legislative Fiscal Analyst – Memorandum For Rep. Merrill Nelson [full PDF]