REMI Licensing Upgrade
Ended Open Market Small Purchase Illinois Awarded
- Contract number
- 26-420DCEO-PLCYD-P-86363
- Awardee
- Regional Economic Models Inc.
- Contracting organization
- Policy Development, Planning & Research
- Contract amount
- $18,600
Award facts
- Completion date
- NIGP code
Award details come from bidbuy.illinois.gov. Updated .
About this award
The State of Illinois Department of Commerce and Economic Opportunity (DCEO) awarded a contract to Regional Economic Models Inc. for upgrading their current Policy Impact (PI) economic modeling system. The contract, valued at $18,600.00, was awarded on September 17, 2025, with a performance period extending through June 30, 2026. The primary objective of this open market small purchase contract is to enhance DCEO's economic impact analysis capabilities, specifically to conduct due diligence for agency investments and business development incentive agreements.
The contract's key deliverable involves expanding the existing REMI model to include comprehensive economic impact analyses, with a specific emphasis on analyzing the nationwide impact of new tariffs. This upgrade will enable DCEO's Policy Development, Planning & Research division to conduct more sophisticated economic assessments. The contract is governed by the State of Illinois Chief Procurement Office General Services Standard Terms and Conditions (Version 23.2), which provides a comprehensive framework for vendor performance, invoicing, and contractual obligations.
Line items
| Item | Total |
|---|---|
| Upgrading the current PI + Model of REMI that allows DCEO to conduct economic impact analyses, which are necessary for due diligence for agency investments, including business development incentive agreements, to include analysis of nationwide impact of new tariffs. | — |
Files
| File | Type | Posted |
|---|---|---|
| Standard Terms and Condiions~49.pdf |
Quick answers
Who was awarded contract 26-420DCEO-PLCYD-P-86363?
Contract 26-420DCEO-PLCYD-P-86363 was awarded to Regional Economic Models Inc. by Policy Development, Planning & Research in Illinois on September 17, 2025.
How much is contract 26-420DCEO-PLCYD-P-86363 worth?
Its contract amount is $18,600.
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