REMI (Regional Economic Models, Inc.) is hosting a free webinar on The Economic Consequences of the Opioid Crisis. The presentation will include a dynamic fiscal analysis that identifies and quantifies the wide array of negative impacts on state and local governments generated by the crisis. The webinar will be held on Thursday, November 9th from 2:00 -3:00 pm.
More information from REMI on the opioid crisis and the webinar:
The prescription opioid abuse and dependence epidemic arrived suddenly in 1999 and has only been gaining momentum in terms of scope and intensity since then. Opioid deaths have quadrupled in that time frame and the advanced necessity for treatment and prevention options is both directly and indirectly affecting the rest of the public. Policy makers are still trying to learn as much as possible about the magnitude of this nationwide crisis and determine the best strategies for combating it.
This presentation will build on a 2016 study that modeled the main direct costs of opioid abusers and dependents on our society. At the national level, the loss of workers to either premature deaths or extended absences from the labor force depress production and lower aggregate demand, slowing down the growth of the economy. At the regional level, heavily impacted states face potential out-migration as well as increased costs for health care, substance abuse treatment, and the incarceration of drug offenders. This combination of factors places a severe strain on state budgets as both the tax base falls and expenditures rise.
Almost 2 million people are estimated to meet the criteria for opioid abuse and dependence with 16,000 losing their lives as a result of their addiction. The total economic burden of those consumed by this public health crisis has already cost the economy upwards of $78.5 billion and few substantive efforts have been able to curb these rising expenditures on the local, state, and federal levels.
Following the presentation, attendees will have an opportunity to ask any additional questions pertaining to the information in the webinar.
Advanced registration is required. To attend please visit the registration page.