Regional Input-Output Modeling System (RIMS II)
The Regional Input-Output Modeling System (RIMS II), a regional economic model, is a tool used by investors, planners, and elected officials to objectively assess the potential economic impacts of various projects. This model produces multipliers that are used in economic impact studies to estimate the total impact of a project on a region. There are a number of common examples.
- Federal, state, and local government agencies use the multipliers to study the local impacts of government regulation on specific industries and to assess the local impacts of transportation projects.
- Economic development organizations, such as chambers of commerce and economic development corporations, use the multipliers to study the local impacts of economic events in their area, such as long-term increases in tourism.
- Businesses use the multipliers to study the local impacts of a wide range of investment projects, such as the construction of a new hotel or the expansion of an existing factory.
The current model is based on 2007 national benchmark input-output data and 2013 regional data, and will be updated with 2014 regional data in 2016. The multipliers may be ordered by region or industry.