In short, the answer continues to be yes. The Bureau of Economic Analysis (BEA), an agency of the Department of Commerce, will continue to sell the RIMS II multipliers until next year when they plan on releasing a new modified regional input-output model.
Last year, as a result of the federal budget sequestration and reduced funding levels, BEA discontinued updates to RIMS II. Orders for RIMS II multipliers, however, have continued to be accepted by the BEA and therefore remain a viable option for EB-5 regional centers.
After investigating ways to continue to meet the analytical needs of their customers, the BEA decided to make a modified economic model available. Until the modified model is available in 2015, customers may continue to buy RIMS II multipliers.
The Bureau of Economic Analysis plans to release in 2015 a modified economic model to replace the original Regional Input-Output Modeling System (RIMS II). Cost savings will be realized because the modified model will be updated less frequently.
Much like RIMS II, the modified model will produce regional ‘multipliers’ that can be used in economic impact studies to estimate the total economic impact of a project on a region.
However, the modified model will be updated with new input-output (I-O) data only for benchmark years (i.e. years ending in 2 and 7). The modified model will become available to customers in 2015 and incorporate 2007 benchmark I-O data and 2012 regional economic data.
The official announcement from the BEA may be viewed here.
Share with the World