What if the Shipyard Closed?: The Economic Impact of a Portsmouth Naval Shipyard Closure on New Hampshire

REMI Policy Insight was implemented in this study to identify the cause-and-effect nature of a large regional employer vacating their current operational location. This particular departure would have considerable negative impact on New Hampshire’s population and subsequent property tax collection. It would take 12 years for personal income to reach the level it would have stayed at with continued shipyard operations.

NH-Employment-The-economic-impact-of-a-Portsmouth-Naval-Shipyard-closure-on-New-Hampshire-APR-2005

School Funding, Taxes, and Economic Growth: An Analysis of the 50 States

REMI’s computable general equilibrium model was tasked with charting out the benefits and effects of expanding school funding across all 50 states. Over the long term, the major effects come with substantial quality of life improvements by way of regional competitiveness and workforce migration. The study also can be used as an approximation of the reverse case of cutting education and taxes.

NEA – School Funding Taxes and Economic Growth: 50 State Analysis [full PDF]

Economic Impacts of Connecticut’s Agricultural Industry

This study was conducted by the Department of Agricultural and Resource Economics, along with the Connecticut Center for Economic Analyses, to ascertain and document the importance of agriculture and related industries to Connecticut’s economy. The agricultural industry was defined as encompassing crop and livestock production, forest products, and the processing of the state’s agricultural production and because the industry purchased goods and services from other industries and hired local labor, its economic impact cascaded throughout the state’s economy. This report estimated the total economic impact of agriculture through the use of three economic models of the Connecticut economy using direct sales of the agricultural industry for 2007. The analysis revealed that the total impact of Connecticut’s agricultural industry on the state economy was up to $3.5 billion and that the industry contributed about $1.7 billion in value added, i.e., the money left in the hands of residents and business taxes, both of which stay in Connecticut.

University of Connecticut – Economic Impacts of Connecticut’s Agricultural Industry [full PDF]

Work Plan for Greenhouse Gas Emissions Reductions

The Twenty-Fifth Legislature of the State of Hawaii determined that Hawaii must do its share in reducing global greenhouse gas emissions as the state’s per capita emissions are similar to other U.S. states, even though they are a small part of the world’s output. Section 7 of Act 234, 2007 Session Laws of Hawaii required the Greenhouse Gas Emission Reduction Task Force to submit to the Legislature a work plan and regulatory scheme for achieving the maximum practically and technically feasible and cost-effective reductions in greenhouse gas emissions from sources or categories of sources of greenhouse gases to at or below 1990 levels of emissions by year 2020. The REMI macroeconomic model calculated the three proposed Work Plans for their impacts on gross regional product, employment and real disposable income. The economic impacts of all three Work Plans were positive compared to the Reference Projection, but in all three cases the impacts were relatively small. This commitment was one of a long series of initiatives by the State of Hawaii to reduce its dependence on energy imports, improve efficiency, and displace conventional fossil fuels with renewable energy sources.

State of Hawaii, The Greenhouse Gas Emissions Reduction Task Force – Work Plan for Greenhouse Gas Emissions Reductions [full PDF]

Estimates of the Long-Term U.S. Economic Impacts of Global Climate Change-Induced Drought

To better understand some of the potential economic impacts of severe climate changes, Sandia National Laboratories economists estimated the impacts to the U.S. economy of climate change-induced impacts to U.S. precipitation over the 2010 to 2050 time period. The economists developed an impact methodology that converted changes in precipitation and water availability to changes in economic activity, and conducted simulations of economic impacts using the REMI PI+ model of the U.S. economy. There was at least four dimensions to climate change that were important in terms of their impact on the economy: first, different types of severe climate change could occur; second, these global climate changes affect different economic sectors; third, the location, spatial extent, and resolution of the consequences of climate change can vary widely; fourth, the time period of climate change and impacts can be very different.

Sandia National Laboratories – Estimates of the Long-Term U.S. Economic Impact of Global Climate Change-Induced Drought [full PDF]