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Regional Input-Output Modeling System (RIMS II)

Regional Input-Output Modeling System (RIMS II). Zoë O. Ambargis Understanding Regional Economic Data for Policy and Planning Dallas, TX September 8, 2006. What is RIMS II?. Developed in the mid 1970’s Model incorporates the linkages among the industries in a regional economy

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Regional Input-Output Modeling System (RIMS II)

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  1. Regional Input-Output Modeling System (RIMS II) Zoë O. Ambargis Understanding Regional Economic Data for Policy and Planning Dallas, TX September 8, 2006

  2. What is RIMS II? • Developed in the mid 1970’s • Model incorporates the linkages among the industries in a regional economy • Provides five types of input-output multipliers for any county or multi-county region • The multipliers are useful, baseline, order-of-magnitude estimates commonly used to analyze the impacts of economic development projects

  3. How Have RIMS II Multipliers Been Used? • Opening and closing military bases • Tourist expenditures • New energy facilities • Construction of sports facilities • New retail establishments • New airports or port facilities • Opening and closing manufacturing plants • University expenditures

  4. How Have RIMS II Multipliers Been Used?

  5. Who Uses RIMS II Multipliers?

  6. RIMS II Multipliers

  7. Questions to Ask • What is being studied? • What is the affected region? • Is there more than one phase? • How long will the project take? • What are the affected industries? • What is the final-demand change? • How large is the final-demand change?

  8. Example 1: Investment in New Construction • Question: What is the total impact on a region of building a new sports facility? • What is the final-demand change? • $100 million investment in new construction • What is the affected region? • Dallas-Fort Worth-Arlington, TX MSA

  9. Example 1: Total Impact of an Investment in New Construction

  10. Example 1: Total Output Impact of Investment in New Construction

  11. Example 2: Sports Facility Operation • Question: What is the total impact on a region of sports facility operation?

  12. Example 2: Total Impact of Sports Facility Operation

  13. Example 2: Total Earnings Impact of Sports Facility Operation

  14. Example 2: Total Employment Impact of Sports Facility Operation

  15. Important Considerations • Multipliers are best suited for estimating the impacts of changes that are small relative to the size of the region’s economy • Size of multiplier will vary from one industry to another and from one regional economy to another

  16. Multiplier Comparisons by Region

  17. http://www.bea.gov/bea/regional/rims/

  18. Coming Soon… Web-based Ordering and Delivery

  19. Contact Information • RIMS II Staff • Zoë Ambargis • Rebecca Bess • Hope Franklin • Molly Weller • Phone 202/ 606-5343 • Fax 202/ 606-5321 • E-mail RIMSREAD@bea.gov

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