NOVEMBER 2008

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National Media Touts Stability of Pittsburgh Regional Economy

Amid an economic crisis affecting regions around the world, national media outlets TIME and BusinessWeek are finding relative solace in the Pittsburgh region. Both recently published articles explaining how the transformation of the Pittsburgh region over the last 25 years into a more diverse economy has positioned it to weather the financial ups and downs better than many others.

TIME calls Pittsburgh "One Bright Spot on Main Street,” focusing largely on the region’s transformation and ability to use old strengths for new gains: “Pittsburgh is certainly not going to escape a national recession. But it can provide lessons for how to survive it: invest in knowledge, compete globally, rewrite the old rules of business.”

Meanwhile, BusinessWeek’s list of the “Best Places in Which to Ride Out a Recession” features Pittsburgh in the company of Baltimore, Boston and Seattle, examining how our region is not only surviving these trying economic times, but actually investing in future prosperity. Plus, PittsburghToday reports (based on the latest U.S. Dept. of Labor statistics) that local September 2008 job figures posted a record high compared to a national trend of declining jobs. Read more

Westinghouse Overflows with New Employees
“Westinghouse Electric Co. is adding new employees so fast that it's now weighing options for additional real estate space to house them. The expanding nuclear company, which isn't scheduled to move into the first buildings at its new [global headquarters] office campus in Cranberry until 2009, is considering whether or not it will need about 50,000 SF of additional space…” Read more

Expanding and Hiring 100: Converteam Counts on Renewable Energy
“Pittsburgh-based Converteam, manufacturer of high performance power conversion systems and wind turbines, is expanding and hiring 100 at its North American headquarters as part of its growing commitment to renewable energy … In three short years the company has tripled in size; Converteam employs 5,000 worldwide in 16 countries, 300 in Pittsburgh and 300 in Minneapolis with manufacturing operations in both cities.” Read more

New Headquarters: Oil and Gas Specialist East Resources Expands
“Construction has started on East Resources Inc.’s new headquarters in Cranberry’s Thorn Hill Industrial Park. In August 2009, the independent oil and gas exploration and development company will relocate its offices from Marshall Township to the North Hills growth area. Located at 190 Thorn Hill Rd., the 30,000 SF property will accommodate the firm's current growth and expansion.” Read more

StarKist Headquarters Moves Back to Pittsburgh
“South Korean conglomerate Dongwon Industries Co. Ltd. [has recently] completed a $359 million deal with Del Monte Food Co. to acquire its StarKist seafood business, with the tuna brand headquarters moving back to Pittsburgh. About 35 StarKist employees occupy about 18,000 square feet of space in the Del Monte building on the North Shore [with 100 projected in the next two years].” Read More

Bright Innovation Quadruples in Size, Completes New Pittsburgh Office
“With its recent move to the South Side’s historic Terminal Buildings, product development firm Bright Innovation has quadrupled in size and expects to hire new designers … Encompassing two former warehouse bays, the 70-foot long space … features open studios, offices, a fabrication shop, and flexible project space.” Read More

Old Tires Mean New Jobs for Greene County
“RJ Lee Group, a Pittsburgh-based scientific analysis, consulting and development firm, [recently] unveiled plans to build a cutting-edge tire depolymerization plant in Cumberland Township.” The company received $2.5 million from the state’s Redevelopment Assistance Capital Program to break ground in the next several weeks on its 40,000-square-foot building at Paisley Industrial Park in Cumberland Township. Read More

Pad-Ready Sites: $8M Westmoreland Technology Park II Completion
“Office, industrial, warehouse, and distribution tenants are actively being sought for new pad-ready sites just completed at Westmoreland Technology Park II … The 143-acre business park includes three pad-ready parcels ranging in size from six to 10 acres, as well as 10 conventional parcels ranging in size from one to 17 acres.” Read more

Highmark’s High Score in IT Innovation: No. 3 Among 500 Nationwide
“Pittsburgh-based Highmark Inc., a provider of health insurance to about 4.6 million Pennsylvanians, ranked third in an annual list of the nation’s top 500 innovators of information technology. InformationWeek magazine, a national information systems publication, recognized Highmark’s use of cutting-edge software to juggle and crunch the massive amount of health insurance and claim information that pours into the company’s actuarial department every day.” Read More

National Leader in Federal R&D Funding: University of Pittsburgh
The University of Pittsburgh (Pitt) is among the top 10 U.S. university recipients of federal science and engineering research and development obligations, according to the National Science Foundation's just-released annual survey, based on figures for fiscal year 2006 ($427 million) … The new survey positions Pitt higher than last year's 11th-place ranking, which was based on fiscal year 2005, and higher still than its 12th-place ranking in the previous two years. Read more

Cohera Medical, ClearCount and Plextronics Land Funds
“Three rising Pittsburgh tech companies reeled in funding this month … Medical adhesive company Cohera [is expanding and] secured $16.1 million … ClearCount Medical Solutions closed on a $4.1 million round this month … and Pittsburgh-based Plextronics, makers of organic solar cell technology, received $1.2 million from a U.S. appropriations bill, H.R. 2638, to develop printed electronics for the U.S. military.” Read more

Pittsburgh 3Q Venture Capital Investment Remains Strong
“Pittsburgh venture capital investment remained strong in the third quarter of 2008; seven local companies received a total infusion of $41.45 million … all but two funded companies were bio and life science firms. The report does not include companies that receive angel, private or government funding." Read more

DSN Innovations Evolves the Supply Chain through Local Manufacturing Networks
Dynamic Supply Network, [is] the evolution of traditional supply chains … [It is bringing] manufacturing back to the United States, starting with Pittsburgh. Formerly the Doyle Center for Manufacturing Technology, DSN works with large manufacturers and organizations to help them connect with small and medium sized companies to streamline the supply chain. The system is called network centric manufacturing. DSN [recently] sponsored a second international forum on the process, which has attracted the attention of large global manufacturers like Lockheed Martin and Boeing.” Read more

Carnegie Mellon Announces $1 Billion Future Growth Campaign
“Carnegie Mellon University – the birthplace of some the most innovative and imaginative technical achievements in the world and home to 16 Nobel laureates – is thinking big, as in billions. In the face of a looming recession, the school announced a $1 billion public campaign this month to carry the institution into the future. Already halfway toward the goal, Carnegie Mellon has raised $550 million in the ‘quiet’ phase of the campaign that kicked off 2003.” Read more

Pittsburgh International Airport Traffic Report: September 2008
Six airlines report increases, while AirTran traffic adds more Florida flights as its yearly traffic numbers are up 24 percent. Read more

New Online Mag Captures Pennsylvania’s Economic Stories
“From Erie to Philadelphia, a new economy is emerging in Pennsylvania and Keystone Edge plans to tell the story. The new online magazine is the ninth and latest publication created by Detroit-based Issue Media Group, a company dedicated to promoting an alternative urban narrative in cities and regions from Michigan to Pennsylvania and beyond.” Read more

Pittsburgh Tech Council Honors 50 Top Companies
Pittsburgh’s brightest tech stars gathered this month to celebrate 50 of the region’s stellar companies and the 25th anniversary of the Pittsburgh Technology Council. Seven companies and a CEO received Tech 50 Awards during an elegant ceremony at the Carnegie Music Hall in Oakland. Featured speaker and Pittsburgh native Regis McKenna, Silicon Valley marketing guru and author, offered sage words as the community strives to take its place among global leaders of technology. Read more

Local Engineering Firm Wins National Honor
Having recently opened a Pittsburgh office, Traffic Planning and Design, Inc. (TPD) was recently named No. 16 among the nation’s Top 50 Best Civil Engineering Firms to Work For in the United States by civil engineering publication CE News. Read more about TPD’s award or view the magazine’s list.

Honor Local Small Business Leaders: SBA Award Nominations Call
Showcase successful business owners and advocates within the small business community by nominating an individual or company for the U.S. Small Business Administration’s (SBA) annual small business week awards program. The results of assembling a thorough nomination packet are well worth the effort. Last year, all of the Western Pennsylvania winners were mentioned in four print publications and several were also featured on local television shows. Collaborate with others to put together an award-winning package. To view the many categories and necessary forms, please see “Small Business Week Nomination Guidelines” on the Pittsburgh SBA home page. Call Janet Heyl of the SBA with questions: 412.395.6560, ext.103.

EVENTS

November 13, 2008 – 3rd Annual PA Business Technology Conference
Hear about the latest innovations in e-marketing, web analytics and wireless technologies for small business at this daylong Duquesne University conference. Learn how to spend less while strategically attracting new business through an arsenal of Internet technologies, tools and practices. Includes a technology showcase and 12 expert-led workshops on topics including social networks, blogs and weblogs, podcasts and Web site optimization. Keynote speaker: Nina Kaufman,“Online Sales: How to Create Hot Sales in a Lukewarm Market.”

November 21, 2008 – Metropolitan Growth and Decline:  the Current Financial Crisis and the Long View
The national economic crisis will have regional impact, but to what extent?  Working cooperatively, can local governments be key players in helping our region weather this crisis?  Hear one expert’s perspective at the Innovation Clinic at the University of Pittsburgh Graduate School of Public and International Affairs’ 2008 Wherrett Lecture Series featuring Dr. Susan Wachter of the University of Pennsylvania’s Wharton School of Business. Considered to be a leading scholar of real estate and finance, Dr. Wachter is the author of more than 150 publications.  The lecture, co-sponsored by the Allegheny Conference on Community Development, will begin at 8:30 a.m., along with a continental breakfast served, at William Pitt Union, Lower Lounge, Pitt Campus.  RSVP by November 4 to GSPIAIC@pitt.edu or 412.648.2282.