Estimation of the Economic Impact of the New Economy Initiative (NEI) on the Detroit Region and the State of Michigan
04/21/2015 - 07/08/2016
The Upjohn Institute estimated the full economic impact of NEI (New Economy Initiative) grant awards from 2009 to present on Wayne County and the surrounding counties of Livingston, Macomb, Monroe, Oakland, St. Clair, and Washtenaw. The economic impact of NEI was measured by changes in employment (full- and part-time), personal income, and the region’s gross regional product. In order to evaluate the impact of the NEI grant awards, we 1) reviewed the impact achieved in each of 149 grants awarded by NEI since 2009; 2) interviewed major grant recipients; 3) conducted an intensive search on media to access the media impression of NEI and the impact that NEI has had in changing the perception; and 4) entered the results of the data collection activities into an economic impact model developed by Regional Economic Models Incorporated (REMI), which included Wayne County and the six-county region of Livingston, Macomb, Monroe, Oakland, St. Clair, and Washtenaw. We estimated the impact within the two regions as well as the economic interaction between the two regions and the entire state.
Community Foundation for Southeast Michigan
ECONOMIC DEVELOPMENT; Regional policy and planning