Mecklenburg County Economic Impact Modeling

About the Program

Category: Financial Management (Best in Category)

Year: 2022

Mecklenburg County developed a toolkit to evaluate the economic impact of businesses relocating to the County. This enabled the County to process business incentive grants quickly, uniformly, while reducing the need of contractors. This process also enables the County to ensure that the grants will serve the best interest of the County and its 1.1 million residents by ensuring that the grant payment doesn’t exceed the forecasted benefits provided by the business relocation. This toolkit consists of REMI PI+ a state-of-the-art structural economic forecasting and policy analysis model combined with data from the Bureau of Labor, Bureau of Economic Analysis, Census, and internal County data to provide accurate forecasting of economic impacts to the County.