Michael Erin is the manager of global initiatives for the Las Vegas Global Economic Alliance, where he helps promote economic development in Southern Nevada. Outside his professional life, Michael Erin is a fan of the Chicago Cubs.
A recent valuation by Forbes shows that the Chicago Cubs franchise has increased by 22 percent in overall value from last year, making it the fifth most valuable team in professional baseball.
In total, the Cubs boast a value of $2.2 billion. The club increased its revenue by 12 percent from the previous year, up to $340 million total. Beyond the revenue increase, the team adds to its worth from rights fees and the value of its brand. The Cubs’ sizable jump in value represents the best such performance of any baseball franchise in history.
In more good news, the Cubs are also a World Series favorite this year after adding key free agents in the off-season.
As the vice president of development for the Economic Club of Las Vegas, a nonprofit group dedicated to promoting discussion of public policy and economics, Michael Erin leads the organization’s fundraising efforts. Also an avid baseball fan, Michael Erin lists the Chicago Cubs as his favorite major league team.
The 2015 major league baseball season saw the Cubs returning to relevance for the first time in years. Historically one of the least successful franchises in the league, the club won 97 games and made the playoffs as a wild card team, advancing to the National League championship series before losing to the New York Mets.
One major reason for the club’s success was the historic performance of starting pitcher Jake Arrieta. During the second half of the season, Arrieta went a remarkable 12-1 while compiling a microscopic 0.75 ERA. He also pitched a no-hitter against the Los Angeles Dodgers. In the playoffs, Arrieta continued his dominance with an outstanding performance against the Pittsburgh Pirates in the wild card game. Though the Cubs ultimately came up short in their quest to return to the World Series for the first time since 1945, Arrieta was awarded the 2015 Cy Young Award as the National League’s best pitcher.
A local community leader, Michael Erin serves the Las Vegas Global Economic Alliance as its global initiatives manager. In this role, Michael Erin networks with investors around the world, showcasing opportunities in the Las Vegas region.
Global economic development is always changing. As the United States continues its economic recovery, here are three of the emerging trends.
More and more people are working for themselves, either as consultants or contractors. Jobs are often outsourced by companies on a “1099” contract basis. Workforce studies for grant funding or private investment often depend on employment figures in a given area. However, 1099 contractors don’t appear in those records, which makes it increasingly difficult to get accurate statistics.
Another trend is the rise of education and taxes as factors in determining economic investment. Gone are the days of a company simply considering location. In addition to that, investors are now looking for an educated workforce, quality of local public education, higher-education pipelines and tax incentives to determine where to site their operations.
As for tax incentives, however, local community residents have become increasingly skeptical of such arrangements. Even good-faith deals can be met with backlash, which is why transparency is paramount. Local governments and investment groups need to make a joint committed effort to keep the public involved and informed about potential partnerships and tax-incentives.
Michael Erin currently serves as the global initiatives manager for the Las Vegas Global Economic Alliance.