A Report on the Massachusetts Film Industry Tax Incentives

The REMI model simulated the structure of and interrelationships among the various parts of the Massachusetts economy with the purpose of assessing the major benefits of the recently-enacted (2006) film industry tax incentives. The tax incentives provided gradually increasing returns in wages paid, state gross domestic product, personal income, additional direct full-time equivalent jobs, and new economic activity. These tax credits also assist in reducing Massachusetts’ tax collections by at least $112-$117 million by the end of its 10th financial year as law.

MA Dept. of Revenue – Film Tax Incentive [full PDF]

Potential Impacts of EPA Air, Coal Combustion Residuals, and Cooling Water Regulations

The focus of this report was on the potential near- and medium-term implications for electricity and other energy prices and for national economic impacts brought on by four major environmental regulations (the Cross-State Air Pollution Rule, Utility MACT, the Resource Conservation and Recovery Act, and the Clean Water Act). The REMI PI+ model was used in conjunction with the National Energy Modeling System to ascertain a complete macroeconomic comprehension of the effects and impacts created by these environmental regulations. Modeling these regulations led to important findings on annual and total job loss, national gross domestic product, and national disposable personal income in the time frame of 2012-2020.

NERA – Potential Impacts of EPA Air, Coal Combustion Residuals, and Cooling Water Regulations [full PDF]

Impacts of Comprehensive Climate and Energy Policy Options on the U.S. Economy

This study from the Center for Climate Strategies at Johns Hopkins University compiled and updated the findings of 16 comprehensive state climate action plans and extrapolates the results to the nation. Then those results projected the national impact of these climate policies on employment, incomes, gross domestic product, and consumer energy prices using the REMI Policy Insight tool. It was found that if the studied energy policies were implemented nationwide at all levels of government, it would result in 2.5 million net new jobs in 2020 and a $159.6 billion expansion in GDP in 2020, more than $5 billion net direct economic savings in 2020, and a reduction in consumer energy price of 0.56% for gasoline and oil.

Johns Hopkins University – Impacts of Comprehensive Climate and Energy Policy Options on the U.S. Economy [full PDF]

Assessing the Near-Term Risk of Climate Uncertainty: Interdependencies among the U.S. States

This study demonstrated a risk-assessment methodology for evaluating uncertain future climatic conditions by estimating the impacts from responses to climate change on U.S. state- and national-level economic activity from 2010 to 2050 and quantified the risk from uncertain climate change to each of the interacting U.S. states, noting the impact on the population and businesses as they respond to changing climatic conditions. The REMI model was included in this study to determine the cost of adjusting water usage to match water availability and calculate the macroeconomic impacts resulting from revisions in the comparative economic advantage of each state as well as to evaluate the economic component of the study’s risk assessment. No amount of research could ever eliminate the uncertainty in assessing future conditions and the risks those conditions impose, but because the future may occur before all stakeholders judge that the uncertainty has been adequately reduced, decisions must be made in the presence of uncertainty.

Sandia National Laboratories – Assessing the Near-Term Risk of Climate Uncertainty: Interdependencies among the U.S. States [full PDF]

Economic Impacts of the HOME STAR Program

The economic impacts of the HOME STAR home retrofitting program were examined by ClimateWorks with the assistance of a 50-state macroeconomic model provided by REMI. The HOME STAR program consisted of $6 billion in subsidies over a two-year period that would allocate funds in either a prescription-based or performance-based scenario. This study assessed that 168,000 jobs would be created in numerous sectors, with the largest increases coming to the sectors with higher unemployment. It was also discovered that this HOME STAR program would result in the reduction of 4 million tons of carbon dioxide equivalent emissions per year compared to business as usual.

ClimateWorks – Economic Impacts of the HOME STAR Program [full PDF]