Southern California Association of Governments Regional Briefing Book

This economic impact report completed by the Southern California Association of Governments (SCAG) assessed how the COVID-19 pandemic has affected their region in terms of economic activity, unemployment rates, sector-based impacts, and key taxable sales data across each region and industry. While the ongoing global health crisis has disrupted normal business operations, SCAG’s researchers were able to utilize the REMI model to determine how well their region has adjusted to life in quarantine and display the overall resilience of its communities and businesses. Analysts used the direct shocks to output that certain industries have been subjected to on account of the pandemic as inputs into their REMI model, which enabled them to examine some of the ensuing implications on the regional economy. This economic impact analysis evaluated how Southern California has fared so far amid COVID-19’s emergence, how this impacts the future of the region, and the corresponding impacts for each county within the SCAG region.

Southern California Association of Governments – Regional Briefing Book [full PDF]

Focus on Energy 2015-2018 Quadrennium Economic Impact Analysis

Cadmus incorporated the REMI E3+ model into their evaluation of Focus on Energy’s 2015-2018 energy efficiency and renewable energy programs in order to ascertain their net statewide economic impacts. Their report used spending and energy-savings data to analyze the short-term program investments made from 2015 to 2018 before forecasting the long-term impacts of those investments from 2019 through 2042. For this assessment, Cadmus calculated the difference between the Wisconsin economy with Focus on Energy and a no-program baseline scenario in terms of the direct, indirect, and induced economic effects. They found that Focus on Energy investments in renewable energy and energy efficiency from 2015 to 2018 will add $2.2 billion in economic benefits to the state’s economy by the end of the study period used for this analysis.

Cadmus – Focus on Energy 2015-2018 Quadrennium Economic Impact Analysis [full PDF]

Xcel Energy – Minnesota Utility Economic Impact Study: Economic Impact of Utility Scenarios on Host Communities

The University of Colorado Boulder’s Leeds School of Business produced this report that evaluated the economic impact of alternative generation plans in four Minnesota communities and the state overall using their six-region REMI E3+ model. Their analysis focused on the state’s major electric utility, Xcel Energy, and its 2019 resource plan that included five scenarios related to replacing coal-fired generating facilities with a combination of solar power, natural gas, wind, and the extension of nuclear generating facilities. After outlining the methodologies behind their report, the Leeds School of Business provided detailed results for each of the Xcel Energy generation scenarios projected out to the year 2045. This examination found that, in terms of percentage change in jobs, personal income, and GDP, the state economy would experience negligible impacts, but local economies would register more significant impacts in each simulation.

University of Colorado Boulder – Xcel Energy – Minnesota Utility Economic Impact Study: Economic Impact of Utility Scenarios on Host Communities [full PDF]

The Economic Impact of Losing the Full Deductability of State and Local Taxes in New York State

The Rockefeller Institute of Government and New York State Division of the Budget collaborated on a report that analyzed the economic effect of the Federal Tax Cuts and Jobs Act on New York in both the short- and long-term. Analysts implemented the REMI model into this fiscal assessment to better understand the impact of eliminating the state and local tax (SALT) deduction on housing prices, output, population, employment, and other important economic indicators. The New York State Division of the Budget utilized two scenarios to identify the impact of the SALT cap, which were an Upper Bound Scenario and a Lower Bound Scenario, before averaging the figures from both simulations. This examination of the SALT deduction determined, among other results, that the total economic activity lost ranged from $14.4 billion to $24.5 billion and that the state’s population would increase by 104,000 people, on average, if the SALT cap were eliminated.

Rockefeller Institute of Government & New York State Division of the Budget – The Economic Impact of Losing the Full Deductability of State and Local Taxes in New York State [full PDF]

Economic Impact Assessment Metropolitan Redevelopment Agency

The Mid-Region Council of Governments (MRCOG) utilized their REMI model to calculate the economic impact of redevelopment and economic revitalization projects conducted by the City of Albuquerque Metropolitan Redevelopment Agency (MRA) over the last 20 years. The REMI model was able to analyze the total investment in the MRA and determine how employment, gross regional product, wage and salary disbursements, personal income, and personal consumption were affected in Albuquerque over two decades. MRCOG’s analysis found that during the course of MRA’s tenure in the city over the study period, Albuquerque’s economy grew by approximately $10 billion and the estimated cumulative impacts of their projects was around $444.4 million, or 4% of the growth of the city’s economy. This report also evaluated the MRA’s neighborhood economic impact, their various redevelopment locations, and how their projects have impacted Albuquerque’s access to transit options.

Mid-Region Council of Governments – Economic Impact Assessment Metropolitan Redevelopment Agency [full PDF]