New REMI Endogenous Residence Adjustment Equation: Transportation, Development, and Commuting for an Example in the NY/NJ/CT Metro Area

The new residence adjustment equation provides a dynamic forecast of income by place-of-work compared to place-of-residence in terms of New Economic Geography theory. It allows for policy simulations based on relative consumer prices, taxes, labor force availability, and commuting costs. This report displays the methodology of applying this equation to economic modeling with the example simulation for a transit project in the Connecticut, New Jersey, and New York metro area and how it influences the economy and the commuting flows between the local counties. Endogenous residence adjustment adds to the analytical capabilities of any policy analysis model.

REMI – Residence Adjustment Equation 2014 Paper [full PDF]

Better Use of Public Dollars: Economic Impact Analysis in Transportation Decision Making

Transit systems, airports, canal systems, transcontinental railroads, and interstate highways all exist because the government made investments with the expectation that transportation improvements would deliver extensive social and economic benefits in return. This report analyzed case studies from four transportation projects from different states, explaining their overall outcomes and lessons learned before detailing some policy recommendations for future transportation endeavors.

Eno Consulting – Better Use of Public Dollars [full PDF]

Economic and Job Creation Analysis: SCAG RTP 2012 (Report)

This report forecasted the yearly direct and indirect effects of the Southern California Association of Governments’ Regional Transportation Plan/Sustainable Communities Strategy out to 2035. The analysis displayed an annual increase of nearly 200,000 jobs across the six-county region as well as a rise in indirect spending by the beneficiaries of these newly-added occupations.

SCAG – Economic and Transportation Analysis [full PDF]

The Impact on the U.S. Economy of the Successful Automaker Bankruptcies

The Center for Automotive Research, using the REMI model, found that the original forecast of total job loss as a result of successful bankruptcies by GM and Chrysler together was estimated to be higher than the figures after applying historical and economic data. The original estimation on the time frame of job loss was also inaccurate as the assumption saw the majority of jobs being eliminated towards the latter half of the two-year (2009-2010) period while the REMI model discovered the predominant job loss would occur within the first six months following the bankruptcy. The surprising speed of this job loss actually translates into quicker, more potent optimization and elevated performance, however. The government facilitating a successful bankruptcy avoids losses in employment and personal income, and the net public benefits won’t fall below breaking even.

CAR – Impact of Successful Bankruptcies [full PDF]

The Economic and Fiscal Impacts of Alternative Buildouts Associated with the Interstate 84/Route 8 Interchange Reconfiguration

The Connecticut Department of Transportation requested that the Department of Economic and Community Development perform an economic and fiscal impact analysis of future, hypothetical land development and buildout scenarios for two conceptual Interstate 84/Route 8 interchange “Build” configurations defined in a previous study. The purpose of this economic and fiscal analysis study that used the Connecticut Economic Model developed by REMI was to provide the Department of Transportation and the City of Waterbury with information to help select a preferred configuration concept for further consideration. The first plan modeled was known as Alternative 6 and consisted of improvements to existing local roads in the development area excluding reconstruction of I-84 and Rt. 8. The other two plans consisted of modifications to the two highways and were known as Alternative 7 and Alternative 8. The study then revolved around combining those Alternatives into two configurations (Alternative 6 and Alternative 7, Alternative 6 and Alternative 8) to analyze the economic and fiscal impacts of those redevelopment options.

Connecticut Department of Economic and Community Development – The Economic and Fiscal Impacts of Alternative Buildouts Associated with the Interstate 84/Route 8 Interchange Reconfiguration [full PDF]