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Economic model presentation today
The CNMI Department of Commerce is announcing public presentations to be held on the islands of Tinian and Rota this month. The purpose of the events is to present the CNMI’s Economic Model.
The project, which is paid through a grant from the U.S. Department of the Interior’s Office of Insular Affairs, developed an updated CNMI-based Input-Output Economic Model. This tool will allow policy makers and relevant stakeholders a model to provide employment, income and output forecasts based on various elements.
The model uses various data sets collected from the CNMI government agencies, as well as published data sets from U.S. federal agencies to develop a unique model useful for projecting impacts of investments, understanding employment forecasting needs, and projecting tax based income streams of new proposals. The model previously used was dated in the early 2000’s, while this model accounts for many of the changes in labor force, Gross Domestic Product, and minimum wage impacts.
The presentations, the first of which was held on Saipan, will allow the public an opportunity to review the completed model, ask questions and view the elements that create the model in its entirety. The presentations will be on June 9, 2014 on Tinian at the NMC Tinian Campus starting at 6pm. The Rota presentation will be held on the same date via video conference at NMC Rota Campus at 6pm. (PR)
