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]

Prosperity at a Crossroads: Targeting Drivers of Economic Growth for Greater Kansas City

The Mid-America Regional Council (MARC) and the Brookings Metropolitan Policy Program joined forces to lay the groundwork for future regional economic analyses. The REMI model was incorporated into the study to help assess the Kansas City region’s overall economic performance, conduct focused research on productivity and the underlying factors determining regional economic performance, and suggest a framework for future action. The report included a comparison of Kansas City’s economic outlook and industries to 14 similar U.S. metropolitan regions, the number of jobs per industry sector, educational forecast, net domestic migration, and numerous other evaluations in order to create a complete economic picture of Greater Kansas City.

Mid-America Regional Council – Prosperity at a Crossroads [full PDF]

The Economic Impact of The Eastern States Exposition

The Eastern States Exposition creates nearly 5,000 jobs for New England and New York residents, while adding $226 million in personal income and bringing approximately 3,600 people to live in these regions. The Exposition also donates 1% of its gross revenues each year to youth and elderly services in the western Massachusetts area. The total amount of payments made by the Exposition to West Springfield in 2012 exceeded $1.3 million.

REMI -The Economic Impact of the Eastern States Exposition [full PDF]

Economic Impact of Kalamazoo-Battle Creek International Airport

This study that was prepared by the W.E. Upjohn Institute for Employment Research estimated the economic impact of the Kalamazoo-Battle Creek International Airport on the greater Kalamazoo-Battle Creek region. If the airport were to close in 2008, researchers estimated that the region would lose nearly 1,350 jobs, personal income would reduce by $46.2 million, gross regional product would decline by $105.3 million, and total sales of goods and services in the region would fall by $175.2 million. In the later years, the region would continue to lose jobs due to the increase in the cost of doing business in the area resulting from not having an airport. It was estimated that the region would employ 2,244 fewer workers solely because of the added expense of doing business in the region without a commercial airport. Estimates of indirect employment impacts were generated using the Upjohn Institute’s REMI model.

W.E. Upjohn Institute – Economic Impact of Kalmazoo-Battle Creek International Airport [full PDF]