CCEA provides economic analysis that justifies massive state investment in UConn Health Center & Dempsey Hospital

On Tuesday, May 17, 2011, in the atrium of the University of Connecticut School of Medicine/Dentistry, Governor Malloy announced a $900 million investment to transform the Schools into an international leader in biomedical research, an investment that will generate more than nearly 3,000 construction jobs in the near term and 16,000 new jobs by 2037. Critically, the investment will generate sustained economic growth that delivers so much net new tax revenue to the state that the bonding is entirely self-financing–with a large revenue bonus for the state.  The Connecticut Center for Economic Analysis provided the dynamic (REMI) economic analysis on with the Governor relied.  Prof. Fred Carstensen, Director of CCEA, attended the event and provided both electronic and print media backup explanations of the details on the economic analysis.  The Center currently employs three department graduate students and two more are participating in its summer work.