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]

Contribution of Honda to the Economies of Seven States and the United States

The purpose of this study was to quantify the employment and economic contributions of Honda’s multi-line operations and associated retail operations for Honda and Acura products by the end of 2007. The first section of the study estimated the contribution of Honda’s U.S. operations and dealership partners to the economies of seven states and the United States for 2007 and the second section of the study presented an overview of Honda’s history in the United States. Honda’s economic contribution to the United States, individually and combined, was analyzed using REMI model 9.0 and the outcomes discovered were a total of 367,683 private sector jobs and $17 billion in annual wages and salaries. The ratio of total jobs created to direct employment equaled the employment multiplier of 2.5, which meant there were an additional 1.5 jobs in the U.S. economy for every one job at all Honda or associated retail operations. Estimated personal taxes resulting from Honda’s manufacturing and associated retail operations in 2007 was $3.2 billion.

Center for Automotive Research – Contribution of Honda to the Economies of Seven States and the United States [full PDF]

Energy Efficiency: Engine of Economic Growth: A Macroeconomic Modeling Assessment

This study utilized a REMI multi-state policy forecasting model to project macroeconomic impacts of expanded efficiency programs in comparison to a scenario in which no such programs exist. New England was separated into six states and each state’s efficiency programs were tested for electricity, natural gas, and “unregulated fuels”, using very conservative estimates of investment levels needed to capture all cost-effective efficiency. The modeled results of increased efficiency investments showed that efficiency provides significant economy-wide benefits in addition to direct participant savings.

Environment Northeast – Energy Efficiency: Engine of Economic Growth: A Macroeconomic Modeling Assesment [full PDF]

Greenhouse Gas Emission Reductions Modeling: ENERGY 2020 Model Inputs and Assumptions

ICF International was selected to assist the state and the Greenhouse Gas Emissions Reduction Task Force in updating the State of Hawaii’s inventory of greenhouse gas emissions and to develop and model alternative plans to achieve the State’s greenhouse gas reduction target. This report outlined the assumptions and data inputs used in developing the Reference Case that will be used as the basis for evaluating proposed policy changes. The REMI model was linked to the ENERGY 2020 model used for this study for U.S. regional and state level analyses and included inter-state/provincial, U.S. and world trade flows, price and investment dynamics, and simulated the real-time impact of energy and environmental concerns on the economy and vice versa.

ICF International – Greenhouse Gas Emissions Reduction Modeling: Energy 2020 Model Inputs and Assumptions [full PDF]

A Comparison of Three Economic Impact Models for Applied Hospitality and Tourism Research

The capacity utilization model (CUM), Regional Economic Models, Inc. (REMI), and the impact analysis for planning (IMPLAN) model were put to the test in order to acquire a fuller understanding of each model’s ability to accurately analyze various data sets pertaining to the hospitality and tourism sectors. Payroll was estimated by the CUM, disposable personal income was estimated by REMI, and value added was estimated by IMPLAN. The results of the study showed that REMI had the highest estimates, followed by IMPLAN and then CUM and what modeling factors and features played a role in the varied final outcomes.

Florida State University – A Comparison of Three Economic Impact Models [full PDF]