On June 19th, the Bureau of Economic Analysis (BEA) released a report called “Impact of Sequestration Reductions on the Availability and Quality of Data from the Bureau of Economic Analysis”. In the report it states the following regarding the discontinuance of RIMS II economic model:
- Regional Input-Output Modeling System (RIMS) – BEA will eliminate its RIMS II product, which currently generates products on demand as events warrant. The RIMS II program will continue to accept and process orders, which are fulfilled on a cost-recovery basis, through the end of the fiscal year. BEA will not build and develop the data needed to update the data set and fulfill orders in future years. RIMS II provides modeled estimates to the private sector and Federal, state, and local governments on the impact of a change in economic activity on a specific region’s economies. For example, RIMS II was used to estimate the economic impacts of Hurricane Katrina and the Deepwater Horizon Event.
IIUSA will be reaching out to USCIS for practical implications and will keep our members updated of any further developments.