Blue Cross and Blue Shield of Michigan (BCBSM), a major provider of health insurance plans to businesses, government units and private individuals in the state of Michigan, and its subsidiary, Accident Fund Insurance Company of America (AFICA) are in the process of relocating and consolidating workers in Lansing, Grand Rapids, and Detroit and their suburbs to downtown locations in those cities. In addition to consolidating its existing workers, AFICA will add over 500 new workers to its Lansing-area work force. In all, BCBSM and AFICA will have moved workers from nine suburban and urban worksites to five urban worksites, investing significantly in constructing and renovating the new sites. These relocations are part of Blue Cross’s desire to contribute to enhancing the vitality of Michigan’s urban cores.
BCBSM has retained Anderson Economic Group, LLC (AEG) to assess the effects of these three downtown consolidations of workers. In this report we discuss the benefits that these plans will have in terms of both quantitative economic measures, such as employment, earnings, and tax revenue, and the important signaling, cultural, and place-making effects of having a large, stable employer in these cities’ downtowns.
Detroit Tigers 2008 Net Economic Impact from Attendance
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Anderson Economic Group, LLC, is an economic consulting firm with offices in Chicago, Illinois; East Lansing, Michigan; and Los Angeles, California. We have prepared this independent analysis of the likely economic impact of the proposed 2016 Summer Olympics in Chicago, and are making it publicly available before the IOC announcement date of October 2, 2009.
We are preparing this study to provide other Chicago-area businesses, as well as taxpayers and policymakers, a realistic assessment of the actual costs and benefits of hosting the games. Our analysis of past major events, and our past evaluations of the value of sports-related and other businesses, gives us a unique position to carefully examine this question.
Boosters of large sporting events and stadium construction have sometimes claimed economic benefits that later proved far too good to be true. However, our analyses of both sports franchises, and cities in which sporting teams oper-ate, show that some events can provide economic benefits that far exceed the costs. Given the scale of the Olympics, and the exposure it would give to Chi-cago on a world stage, it is certainly worth carefully considering the costs, risks, and benefits.
We have used a rigorous methodology to estimate the likelly economic impact of events like the 2016 Summer Olympics.