THE ECONOMIC AND FISCAL IMPACT OF NEW MARKET TAX CREDITS IN NORTH CAROLINA Regional Economic Models, Inc. what does REMI say? sm what does REMI say? sm
Methodology Data on characteristics of 200+ firms in six states with previous new market programs Identify patterns in those firms’ industries, employment, payroll, and credit allocations Input trended jobs and payroll by industry for $10 million/year of new markets credits Economic impacts (job, GDP, income) and fiscal impact (revenues, cost of credits) what does REMI say? sm
Industries 0.0% 0.2% 0.4% 0.6% 0.8% what does REMI say? sm
Employment 3,500 3,000 Jobs (over baseline) 2,500 2,000 1,500 1,000 500 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Created 0 920 988 1,037 1,074 1,107 1,138 1,170 1,205 1,240 1,279 Created/Retained 0 2,269 2,434 2,556 2,646 2,725 2,801 2,882 2,969 3,058 3,156 what does REMI say? sm
Gross State Product $450 $400 Millions of 2014 dollars $350 $300 $250 $200 $150 $100 $50 $- 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Created $- $101 $110 $118 $125 $132 $139 $146 $154 $162 $171 Created/Retained $- $244 $266 $285 $302 $319 $336 $355 $374 $395 $417 what does REMI say? sm
Fiscal Impact what does REMI say? sm
Regional Economic Models, Inc. 1776 I St. NW Suite 750 Washington, DC 20006 (202) 716-1397 what does REMI say? sm
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