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.