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A New Administration, the Financial Crisis, and the Regional Economy (Part I)

A New Administration, the Financial Crisis, and the Regional Economy (Part I). Session 1 of the PI + Seminar Series. Purpose of Series. Introduction to PI + Training in its use Its application to topics of current economic importance Facilitation of discussion among attendees and REMI staff.

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A New Administration, the Financial Crisis, and the Regional Economy (Part I)

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  1. A New Administration, the Financial Crisis, and the Regional Economy (Part I) Session 1 of the PI+ Seminar Series

  2. Purpose of Series • Introduction to PI+ • Training in its use • Its application to topics of current economic importance • Facilitation of discussion among attendees and REMI staff

  3. Goal of this Session • Introduction to the current recession • Discussion of proposed solutions • Laying the groundwork for detailed topical discussions in future sessions • Brief introduction to PI+

  4. Goals of Future Sessions • Session 2: Exports and market share • Session 3: Migration and the impacts of demographic change • Session 4: Taxes and government spending • Session 5: Investments in infrastructure • Session 6: Energy policy • Session 7: Conclusion and summation of previous 6 sessions

  5. The Financial Crisis • Initial cause: Bursting of housing bubble? • Compounding problems: Expectations and self-fulfilling outcomes • Different locations = Unique challenges

  6. The Stimulus Package • Energy • Renewable energy tax credits and cuts • “Smart Electricity Grid” to reduce waste • Health Care • Medicaid aid to states • Health insurance for unemployed • Infrastructure • Public transportation and construction projects • Rail and mass transit projects • Education • State fiscal relief to prevent cuts in aid • Grants to local school districts

  7. [Model Demonstration]

  8. Take-Aways • The crisis and recovery will effect every region, albeit at times differently. • Dynamic analysis and smart modeling can capture changes in regional competitiveness. • An economic disruption of this magnitude may offer a chance to redirect and refocus regional competitive advantage.

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