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Briefing
Revenue forecasting processes in New England
State governments creating their budgets are concerned about available revenues. The basis of a successful budget is a sound revenue forecast. How states arrive at this forecast is both a science and an art and the approach differs markedly among states. This policy brief responds to the dearth of readily accessible information about states? revenue forecasting processes by describing, comparing, and contrasting the revenue forecasting processes of the New England states.
Briefing
Hollywood east?: film tax credits in New England
Five of the six New England states now provide tax credits or other financial incentives to attract producers to film on location. This policy brief discusses whether these incentives attract more production, and whether they are cost-effective in creating jobs. It focuses on the use of one major incentive: film tax credits.
Briefing
An overview of Chapters 40R and 40S: Massachusetts’ newest housing policies
In creating Chapters 40R and 40S, policymakers recognized that respecting local concerns in the pursuit of statewide goals was a more effective strategy than mandating or regulating behavior. While the jury is still out on how effective 40R and 40S will be, moving from regulation to incentives is a commendable step for housing policy in the Commonwealth.
Briefing
The middle-skills gap: ensuring an adequate supply of skilled labor in northern and southern New England
Recent evidence suggests that a mismatch between the skills demanded by employers and the skills supplied by the population may be underway, particularly for ?middle-skill? workers who possess some college education or an associate?s degree. This policy brief examines the middle-skill mismatch in New England, comparing recent labor market trends and future projections for the northern versus southern subregions. The analysis finds that the nature of the mismatch varies within the region, indicating that policymakers should tailor their potential responses as opposed to taking a uniform ...
Briefing
A more equitable approach to cutting state aid
Local governments in New England rely on state aid to finance the provision of essential public services. Yet in response to the recent and ongoing fiscal crisis, state governments across the region have cut local aid deeply, often by the same percentage in each community. This across-the-board approach ignores differences in underlying local fiscal health and places a larger burden on many resource-poor communities. To address this concern, this policy brief provides a new, more equitable approach that allocates smaller aid cuts to communities that are in worse underlying fiscal health and ...
Briefing
The changing housing market: a bang or a whimper?
The U.S. housing market has had an extraordinary 15-year run in terms of prices, sales of existing homes, and new construction, especially on the East and West Coasts. Beginning in the spring of 2006, however, the housing market began to turn distinctly downward. We know that 2005 was a good year and that 2006 has not been such a good year, and we see indications that 2007 could be tough. To help understand why the market has shifted from hot to, at a minimum, cool, this paper, which is the first in a series of NEPPC policy briefs on housing, recaps some of the factors that contributed to ...
Briefing
GASB 45 and other post-employment benefit promises : the fog is clearing
It is often said that you won?t get rich working for the government, but you can?t beat the benefits. One form of these benefits is ?Other Post-Employment Benefits"(OPEB), which represent government promises to employees to provide health care and other non-pension benefits after retirement. Government employers commonly use these benefits to attract talent in lieu of large salaries or bonuses and to provide future security to employees. Until now, governments have also been able to apply preferential accounting treatment to OPEB plans, which allowed deferral of the costs of today?s ...
Briefing
Ensuring adequate electrical capacity in New England
A settlement accepted by the Federal Energy Regulatory Commission on June 15, 2006, may finally resolve years of disagreement over how to increase New England?s electrical capacity. The final settlement was signed by 107 of the 115 parties negotiating for four months to create a forward capacity market for electricity in the region. Despite such strong support, however, several important parties oppose the plan, and its economic impact on the region is not yet clear.
Briefing
Uncertain futures: are American youth increasingly idle?: think again
Continued high unemployment and low labor force participation among U.S. youth have led many observers to question what the future path of employment will look like for younger workers. Of particular concern is the share of the youth population that is idle, or what is technically termed ?not in employment, education, or training? (NEET). These individuals are particularly vulnerable to continued adverse labor market outcomes and their prolonged detachment from the labor market may result in significant individual and social costs. This policy brief details trends in youth labor market ...
Briefing
Saving costs through regional consolidation: public safety answering points in Massachusetts
As local governments seek to address growing financial challenges, many will consider a variety of cost-cutting measures, including joint service provision with other localities. This policy brief examines the potential savings from large-scale service-sharing arrangements, using the specific example of emergency call handling and dispatch in Massachusetts. The analysis finds that consolidation can significantly reduce costs, and recommends that state policymakers consider options to encourage local consolidation. ; This policy brief builds on the Center?s 2013 research report, ?The Quest for ...