Briefcase

Briefcase

Leadership Pioneer Valley Accepting Applications for LEAP Class of 2020

SPRINGFIELD — Leadership Pioneer Valley (LPV) is now accepting applications for enrollment in the LEAP class of 2020, a nine-month, regional leadership-development program that engages the Pioneer Valley’s most promising emerging leaders through learning and exploration. Participants are trained in leadership skills by experts in a classroom setting. They also attend in-depth field experiences across the region where they meet with local leaders and explore the region’s economy and culture. The LEAP program runs September through May. In its seven years, nearly 300 individuals representing more than 90 companies, organizations, and municipalities have participated. The program has filled a critical need for a leadership program that builds a network of emerging leaders to address the challenges and opportunities of the region. Fifty-three percent of alumni have a new leadership role at work, 64% have joined a new board of directors, and 99% made new meaningful connections. LPV is seeking applicants all over the Pioneer Valley, including Hampden, Hampshire, and Franklin counties in different sectors. The program is made for those in nonprofits, businesses, and government who are eager to increase their leadership skills and take action to better the region. Applicants are considered in a competitive application process that prioritizes diversity by employment sector, geography, race, gender, and sexual orientation. Emerging leaders, mid-career professionals with leadership potential, and those looking to better the Pioneer Valley should consider applying. Those who apply by June 1 will be eligible for $100 off of their personal tuition, and companies with three or more applicants by June 1 will receive 50% off one participant. The deadline for LPV class of 2020 applications is July 1. Applications and further information can be found at www.leadershippv.org.

First-quarter Profits Up Across MGM Resorts

LAS VEGAS — MGM Resorts International reported financial results for the quarter ended March 31, 2019. Consolidated net revenues increased 13% compared to the prior year quarter to $3.2 billion. MGM Springfield earned $9.38 million on $77.9 million in net revenue. That figure represents adjusted earnings before interest, tax, depreciation, and amortization, or EBITDA. “The first quarter came in slightly better than our expectations with consolidated net revenues up by 13% and adjusted EBITDA up 5%,” said Jim Murren, chairman and CEO of MGM Resorts International. “Our Las Vegas resorts experienced broad and diversified customer demand. Our non-gaming revenues grew by 4%.” Net revenues increased 21% to $804 million, including $78 million in contributions from the opening of MGM Springfield in August and $37 million in contributions from the acquisition of Empire City Casino in New York in January. “We remain focused on achieving our 2020 targets of $3.6 billion to $3.9 billion in consolidated adjusted EBITDA and significant growth in free cash flow,” Murren said. “Our strategy to achieve these goals includes the continued ramping up of MGM Cotai [in Macau], Park MGM [in Las Vegas], and MGM Springfield, and the implementation of the MGM 2020 Plan. MGM 2020 is a company-wide initiative aimed at leveraging a more centralized organization to maximize profitability and lay the groundwork for the company’s digital transformation to drive revenue growth.”

PVPC Releases Economic-development Strategy

SPRINGFIELD — The Pioneer Valley Planning Commission (PVPC) recently released its 2019 Comprehensive Economic Development Strategy (CEDS) and Pioneer Valley Plan for Progress Five-year Update, a blueprint for economic development in the region. The CEDS features a description of regional economic-development conditions and sets forth goals and objectives for the future, as well as a list of projects seeking the U.S. Department of Commerce’s Economic Development Administration Public Works funding in the next year. The report highlights the region’s continued decrease in unemployment, an improved workforce-talent pipeline, and increased early-education enrollment and high-school and community-college graduation rates, among others, as metrics illustrating the overall progress being made. The CEDS also lists many major committed projects of regional significance, such as the Naismith Memorial Basketball Hall of Fame renovations in Springfield, North Square at the Mill District in Amherst, and the One Ferry Street mixed-use development in Easthampton. A full digital copy is available at www.pvpc.org/plans/comprehensive-economic-development-strategy-ceds. Hard copies are also available upon request.

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