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PI+ & TranSight For Universities what does REMI say? sm REMI Models • The next generation Policy Insight® model • Comprehensive economic equations modeling fiscal, demographic, and economic effects with respect to linkages • Up to 169 industry sectors across 3,089 U.S. counties including 6,000+ fully adjustable policy variables updated yearly • Comprehensive tool for evaluating the total economic effects of changes to transportation systems • Integrates travel demand data, data on emissions, safety valuation factors, etc, and 3 additional transportation-related cost matrices with PI+ what does REMI say? sm Considering Possibilities Funding University Projects Business and Economic Research Institutes Multidisciplinary Research REMI Model what does REMI say? sm Model Applications Economic Development Education Transportation • Impact of Offshoring of Jobs on Suffolk County (MIT) • Implications of Virginia Public Higher Education (UVA– Weldon Cooper Center for Public Service) • National Infrastructure Spending on Regional Construction Employment Implications (Penn State) Environment • Impact of Acid Rain Legislation on Illinois Health Care • Economic Impact of Private Physicians’ Offices in Florida (Florida State University) Taxation • Michigan Film Tax Credit (Michigan State University) Tourism • Mystic Seaport Expansion Economic Impact on Tourism (UConn) Energy • Comprehensive Climate and Energy Policy Options on the US Economy (Johns Hopkins) what does REMI say? sm (Southern Illinois University) Model Configuration Regions Sub-County Industries Sectors Utilities Electric Power County Natural Gas Distribution State National Construction what does REMI say? sm Construction Distinguishing Model Features • Model incorporates four unique quantitative methodologies • Each model is custom built to match regional client specificity Integrated Dynamic Customized Structural what does REMI say? sm • Measures economic impacts and responsive demographic and economic changes over time • Incorporates transparent and robust economic linkages built on proven methods and theory Integrated Model Input/Output Econometric REMI PI+ General Equilibrium what does REMI say? sm New Economic Geography Structural Model what does REMI say? sm New Economic Geography Model Structure what does REMI say? sm University Center Business Model • Universities as economic experts for a region • Forecast and Policy Analysis • Perpetual license (purchase) or rental, 23-, 70-, 169 sector what does REMI say? sm Weldon Cooper Example Governor Kaine’s $4.2B budgetary cuts on: – K-12 Spending – Higher Education Spending – Direct Health Care & Social Assistance Spending – State and Local Government Admin/uncategorized spending – Public Health Insurance Spending (i.e., Medicaid) what does REMI say? sm Model Output Results 14,801 jobs lost in 2011 what does REMI say? sm 24,087 loss jobs in 2012 Conclusion REMI’s PI+ and TranSight® models: • Are the leading regional economic forecasting and policy analysis tools • Applicable over a diverse set of practice areas (i.e., economics, demographics, tax polices) • Uses dynamic economic linkages – not just multipliers what does REMI say? sm Contact Us www.remi.com [email protected] Headquarters: District Office: 433 West Street, Suite 4 Amherst, MA 01002 700 12th St. NW, Suite 700 Washington, DC 20005 TEL: 413.459.1169 FAX: 413.549.1038 TEL: 202.904.2490 what does REMI say? sm