FISCAL IMPACT OF NEW MARKET TAX CREDITS IN NORTH CAROLINA Regional - - PowerPoint PPT Presentation
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
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what does REMI say? sm
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)
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0.0% 0.2% 0.4% 0.6% 0.8%
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2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Created 920 988 1,037 1,074 1,107 1,138 1,170 1,205 1,240 1,279 Created/Retained 2,269 2,434 2,556 2,646 2,725 2,801 2,882 2,969 3,058 3,156 500 1,000 1,500 2,000 2,500 3,000 3,500 Jobs (over baseline)
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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 $- $50 $100 $150 $200 $250 $300 $350 $400 $450 Millions of 2014 dollars
what does REMI say? sm
what does REMI say? sm