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Why Pittsburgh Means Business

Why Pittsburgh Means Business. A Snapshot of the Pittsburgh Region. 10 counties = 7,200 sq. miles Population = 2.6 million Gross Regional Product = $114.6 Billion.

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Why Pittsburgh Means Business

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  1. Why Pittsburgh Means Business

  2. A Snapshot of the Pittsburgh Region • 10 counties = 7,200 sq. miles • Population = 2.6 million • Gross Regional Product = $114.6 Billion • “Pittsburgh stands as a bold example of how to create new jobs and industries while transitioning to a 21st century economy. As a city that has transformed itself from the city of steel to a center for high-tech innovation... Pittsburgh will provide both a beautiful backdrop and a powerful example for our work.” • President Barack Obama, • Pittsburgh (G-20) Summit

  3. Why Pittsburgh? • Strategic Location • Educated, skilled workforce • Affordable cost of doing business • Access to world-class innovation • High quality of place

  4. A Strategic Location • Our three rivers make Pittsburgh the 3rd busiest U.S. inland port • Within 500 miles of: • More than 53% of the U.S. buying income • 63% of U.S. industrial output • Nearly half of the U.S. population and aggregate income

  5. Skilled Workforce  Human Capital • Educated – We’ve attracted the best and brightest to 36 colleges and universities, more than 90 career and apprenticeship programs • Innovative –We’ve supported research & development • Entrepreneurial – We’ve put in place programs to encourage business start-ups • Committed – Pittsburgh companies consistently describe their employees as loyal and hardworking

  6. Recent Business Investment Testimonial • “Smith Micro Software has offices across North America, Europe and Asia, and when we were ready to expand with a new R&D center, Pittsburgh made the top of our list. Pittsburgh and Pennsylvania have the assets we seek, including top local tech and engineering talent. The Pittsburgh Regional Alliance was integral in supporting our expansion, connecting us to the necessary local and state resources that will help build our 230+ workforce in the area.” William W. Smith, Jr. CEO, Smith Micro Software, Inc.

  7. International Business Investment Testimonial • “After a competitive search for relocation options, the Pittsburgh region remained steadfast as our top choice in part because of the affordable cost of living, high quality of life and strong talent pool. The multitude of universities and technical schools in the area enable us to meet our needs for a growing workforce skilled in all areas of the nuclear power industry. In addition, the coordination of state and local government officials and economic development organizations was unsurpassed in their ability to provide us with a cost-competitive solution.” ArisCandris, President & CEO, Westinghouse Electric Company

  8. Cost of Doing Business – Workforce Source: Bureau of Labor Statistics

  9. “In the last two years, Pittsburgh has really been the only market to see growing fundamentals.” Arthur Jones, Senior Economist for CB Richard Ellis Best commercial real estate market according to Moody’s Economy.com Real Estate Costs Source: Grubb & Ellis, Q2 2011

  10. World-Class Research & Development Tied to Commercialization

  11. We Worked Hard to Give Every Resident a High Quality of Life

  12. Recent Pittsburgh Region Rankings Most Livable U.S. City, The Economist Top Ten Metros, Site Selection Most Livable U.S. City, Forbes.com A Top America’s City of the Future, fDi Economically Strongest U.S. Metros, The Brookings Institution Best Commercial Real Estate Market, Moody's Investors Service Best Places for Relocating, CNBC Top 10 City for Job Growth, Forbes.com Best Cities for Recent Graduates, Huffington Post

  13. Strong Foundation in Five Strategic Sectors Advanced Manufacturing Energy Financial & Business Services Information & Communications Technology Health Care & Life Sciences

  14. Advanced Manufacturing • A century-long tradition of world-leading innovation and manufacturing excellence • Assets • World HQ for global leaders • 3,000+ advanced manufacturing firms • Employing over 95,000 people • 120 R&D centers • Strengths • Electrical equipment • Industrial machinery • Nanotechnology • Precision machining • Specialty chemistry • Specialty metals

  15. Financial & Business Services • Building on 150 years of world-leading innovation • Largest industry contributor to Gross Regional Product • Assets • World HQ for global leaders • Employing 53,000 people at some 3,700 firms • Strengths • Corporate HQ and Shared Services • Legal Services • Mortgage Servicing • Transaction Processing

  16. Information & Communications Technology • Synergy between corporate and academic R&D • Assets • Universities including two top-tier I schools, Carnegie Mellon and University of Pittsburgh, among 34 other regional universities • Nearly1,600 tech firms with 26,000+ employees • $832M in venture capital invested in emerging regional businesses during the last five years • Strengths • Data storage • Agile robotics • Cyber-security • Networking hardware • Electro-optics

  17. Health Care & Life Sciences • Unique convergence of research and clinical assets • Assets • 500+ HC&LS companies in the region • $500M+ spent on Life Sciences R&D annually (NSF) • $350M+ venture capital invested in life sciences since 2002 • Specialized centers • McGowan Institute • Quality of Life Technology Center • Hillman Cancer Center • Strengths • Medical devices • Regenerative medicine • Tissue engineering • Diagnostics • Transplants

  18. Energy • 16% of regional economy ($19B regional GDP) • Ample natural resources and 150-year history of energy innovation and manufacturing expertise • Assets • 935 firms supporting 157,000 jobs (directly & indirectly) • Energy manufacturing supply chain • Only U.S. city with high concentration of energy jobs and natural resources • Strengths • Innovation • Traditional: coal, natural gas • Alternative: nuclear, solar, wind • Conservation: transmission & distribution, intelligent building

  19. Energy Leadership Across Seven Sectors

  20. Positioned to Lead the Way • Pennsylvania ranks 2nd in the United States in nuclear power generating capacity • Pennsylvania and Illinois (the other leading state) together account for more than 1/5 of U.S. nuclear power generation • Pennsylvania is a major coal-producing state • Sells approximately half of its coal output to other states throughout the East Coast and Midwest • Pennsylvania is the leading petroleum-refining state in the northeastern U.S. • A water-rich region, home to a number of leading water technology and solution providers

  21. We Are an Energy Innovator $1 billion + Government Universities Corporate NETL Bettis Penn State CMU CONSOL Eaton WVU Pitt Westing-house PPG Coal Nuclear Systems Source: Allegheny Conference analysis

  22. National Energy Technology Lab (NETL) an Asset in the Pittsburgh Region • Only U.S. National Laboratory devoted to fossil energy R&D • Intellectual resources • 1,400 employees • More than 700 scientists/engineers; more than 450 with advanced degrees • Recipient of three “R&D 100” awards in 2011; 13 in past 5 years • “R&D 100” award is the gold standard of recognition for research leading to commercially viable products • Strategic alliance with 5 major regional universities • University of Pittsburgh • Carnegie Mellon University • West Virginia University • Virginia Tech • Penn State University

  23. Marcellus Shale Play • The Marcellus Shale geological • formation is the largest unconventional • natural gas reserve in the world: • Pittsburgh is the largest metro atop the Marcellus Shale • An estimated $500B in recoverable gas • 95,000 square miles of approx. 60% of Pennsylvania’s land mass • Reserves projected at nearly 500 trillion cubic feet or the total U.S. demand for 19 years • In the Marcellus Shale play alone, an estimated 1,700 wells were drilled in 2010 – increasing to 3,500 annually by 2020 • Prompted 60+ companies to expand their exploration, drilling or service operations into the Pittsburgh region since 2007 Pittsburgh Pittsburgh

  24. Collaborating to Unlock Potential, Create Prosperity • A collaborative mindset – across industries, academic institutions and government – allows Pittsburgh to invent, commercialize and globalize new products and even entire industries • We also capitalize on synergies that cut across industries and create new business opportunities

  25. How Can the Pittsburgh Regional Alliance Help? • Assists companies in accessing the U.S. market through southwestern PA • Offers a central point of contact, linking businesses to opportunities and resources through an extensive network of contacts and partnerships • Provides one-stop project management services at no charge, including: Site Selection Assistance Talent Attraction & Retention Global Business Assistance Market Research & Analysis Financial Assistance Peer Executive Meetings

  26. For More Information: Suzi Pegg Vice President, Global MarketingPittsburgh Regional Alliance & Allegheny Conference11 Stanwix Street, 17th FloorPittsburgh, PA  15222 spegg@pittsburghregion.org www.pittsburghregion.org

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