Agenda - 12-06-2010 - 7e - Laserfiche WebLink

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Table 1. Comparison of Economic and Fiscal Impact Models Quick Impact and RIMS II IMPLAN REMI Policy Insight FedFIT WebLOCI Total Impact Type Of model Input-output Static input-output Dynamic regional Fiscal impact Fiscal impact Economic and fiscal multipliers only modeling system economic and policy calculator impact modeling system Level of geography Counties, states, Counties, states, Multi-county Counties, cities Counties, cities Counties, cities, regions zip codes regions, states states Estimates indirect No, but the multipliers Yes Yes Yes (not primary Yes (not primary Yes economic effects can be used to do so function) function) Estimates local govt. No No No Yes Yes Yes revenues and costs Incentives analysis No No No Yes Yes Yes (return, payback period) Calculates net No No No Yes Yes Yes present value Format Viewer file or Desktop application Desktop application Excel workbook Web-based Excel-based spreadsheet application application Major strengths/ Affordable and Level of industry Robust forecasting Accessible and Provides detailed Integrates economic advantages accessible detail; multi-region and policy analysis easy to use cost estimates and fiscal impact modeling capability analyses Limitations/ No built-in modeling Ignores dynamic Expensive and Default values Requires users Lack of industry shortcomings capability changes in the complex may not produce to input a large detail and advanced economy over time precise results amount of data modeling capability Pricing! $50 per industry or $2,665 for $46,000, then Free $450, then $200 $3,000-$5,000 subscription fee $225 per county or NC package $10,000 annually annually region (no subscription $23,000 for a required) one-year rental $18,500 for a six-month rental. Vendor U.S. Bureau of Minnesota IMPLAN Regional Economic Federal Reserve Georgia Tech Impact DataSource Economic Analysis Group Inc. Iviodels Inc. Board Enterprise Innovation Institute W O