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]

Forecasting the Economic Impacts of COVID-19 in Northeast Florida: Utilizing REMI PI+ Model

The REMI PI+ economic model and a national forecast prepared by the University of Michigan were incorporated into an evaluation performed by the Northeast Florida Regional Council as they sought out to better comprehend the economic impacts that the outbreak of COVID-19 is imposing on the Northeast Florida region. During their analysis, the Council found that the economic effects of even a “best case scenario” will be severe due to the particular mix of industries present in the region.

Northeast Florida Regional Council – Forecasting the Economic Impacts of COVID-19 in Northeast Florida: Utilizing REMI PI+ Model [full PDF]