Abstract
This paper describes the development of a fiscal impact tool for New Hampshire communities (FIT-4-NH). FIT-4-NH belongs to a family of computer-generated fiscal impact assessment models designed to estimate the impacts to local government revenues and expenditures that result from economic changes. In the past, work in this area has centered on the completion of county-level models for the midwestern states. FIT-4-NH is unique in that it was designed for rural community-level use in the northern New England region of the country.
Highlights
Rural co.ffimunities have always been concerned with the fiscal and public service impacts of various economic shocks, such as the introduction of a new firm
There is much to be learned about the interrelationships existing within rural economies and analysis improvements to be had with improvements in data availability at the local level
The intention of this work was to introduce a body of applied research to the State of New Hampshire where it had previously been lacking and, in doing so, provide New Hampshire communities with a cost-effective, reasonably accurate means of measuring fiscal impact, thereby improving the policy decision-making process
Summary
Rural co.ffimunities have always been concerned with the fiscal and public service impacts of various economic shocks, such as the introduction of a new firm. Earlier models were typically developed for relatively large states, mainly in the Midwest They were based on county-level units of analysis and used a gravity component for estimation of labor force relationships, which is acceptable for states like Iowa and Nebraska where the natural landscapes are virtually featureless planes (Swenson and Eathington 2000). In order to address this particular need, as well as other modeling issues, a variety of regional economists and rural social scientists formulated the structure of an econometric-based fiscal impact model for communities (COMPAS) to be used as a conceptual framework for comparing economic, demographic, and fiscal impacts that result from economic change within each community Oohnson and Scott 1997a) This unified effort was fostered by the development of fiscal impact modeling systems in a number of states over the last several years, beginning with Virginia and followed by others in Iowa, Kansas, Minnesota, Nebraska, Pennsylvania, and Wisconsin, to name a few. Model validation is considered by testing the results of simulations completed with FIT-4-NH
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