Regional Economic Models, Inc. (REMI) was awarded a $247,000 firm fixed-price purchase order by the U.S. Department of Transportation's Office of the Secretary on May 17, 2021, for up to four years of software maintenance and support services for the REMI 8 Bureau of Economic Analysis (BEA)-Region, 160-Sector Policy Insight Plus (PI+) economic analysis models. The contract, which is scheduled for ultimate completion on May 16, 2025, was issued without a set-aside designation and executed rapidly following a pre-solicitation opportunity posted on April 28, 2021. Services will be performed at the contractor's location in Cambridge, Massachusetts.
REMI, a for-profit subchapter S corporation specializing in economic impact analysis and forecasting, serves as the prime contractor on this engagement with no identified subcontractors. The company's Policy Insight Plus platform provides comprehensive economic modeling and analysis tools utilized by federal agencies for understanding and predicting economic trends and impacts. This award represents the Department of Transportation's investment in maintaining access to REMI's sophisticated 160-sector regional economic models, which support the agency's analytical capabilities for evaluating policy implications and economic forecasting requirements.