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Q: What drives PITTSBURGH's economy? ( Answered 5 out of 5 stars,   3 Comments )
Subject: What drives PITTSBURGH's economy?
Category: Business and Money
Asked by: shikibobo-ga
List Price: $30.00
Posted: 18 May 2005 07:04 PDT
Expires: 17 Jun 2005 07:04 PDT
Question ID: 522911
Right of first refusal to googlenut-ga. 
See, for example, previous questions 417587 and 405220.
Due by 5 days.
Subject: Re: What drives PITTSBURGH's economy?
Answered By: googlenut-ga on 22 May 2005 19:32 PDT
Rated:5 out of 5 stars
Hello shikibobo,

Pittsburgh was once known for it?s strong glass, iron and steel
industries.  However, Pittsburgh?s economy is now driven primarily by
technology, healthcare, education, and finance.  The retail and
tourism sectors are also strong.  The largest employer in the region
is The University of Pittsburgh Medical Center (UPMC) with
approximately 27,000 employees.  West Penn Allegheny Health System and
the University of Pittsburgh each employ approximately 10,000.  PNC
Financial Services Group and Mellon Financial follow, each with close
to 7,000 employees.


Greater Pittsburgh Convention & Visitors Bureau
Pittsburgh Overview
?Located at the confluence of three sparkling rivers and banked on all
sides by green hills, Pittsburgh has earned its reputation as one of
America's "most livable" cities. Long a center for the production of
steel, iron, glass, Pittsburgh's economy is now driven by technology,
medicine, finance and tourism.?

City of Pittsburgh, Pennsylvania
Basic Financial Statements
December 31, 2002
?Economic Background

Pittsburgh has consistently been a leader in developing and
capitalizing on new industries.  In the mid-1800s, Pittsburgh gained
notoriety for developing its glass, iron, and steel industries and
emerged as the world?s steel-producing capital by the end of the
century.  This continued until the steel industry?s collapse in the
early 1980s.  In recent years, the City of Pittsburgh?s economy
underwent an incredible transformation.  Though heavy manufacturing
continues to play a role in the city?s economic growth, it is no
longer the region?s sole driving force.  Instead, Pittsburgh has
reestablished itself as a leader in technological innovation.  The
same entrepreneurial spirit that forged Pittsburgh?s growth in the
past has been reborn, producing a diverse economy consisting of high
technology, finance, healthcare, retail, law, and education sectors. 
Pittsburgh?s economy is now fueled in great part by information
technology and biotechnology firms that grew out of the region?s
strong universities.?

Pittsburgh, Pennsylvania

Pittsburgh has exhibited amazing adaptability in the wake of the steel
industry's collapse. The primary industries have shifted from steel
manufacture and heavy industry to high technology, robotics,
biomedical technology, finance, and service based fields.?

PNC Bank
Regional Economic Update
Pittsburgh (May 2005)
?The Pittsburgh MSA is moving in the right direction, but has much
ground to regain (see Chart 1). Construction, health care, and
education all added jobs in 2004, leading to a small net gain in total
employment. US Airways continues to weigh on the region; additional
job cuts are slated for the spring, and further cuts likely lie ahead.
 Manufacturing is also acting as a drag on the region?s economy. Job
losses have continued even in those industries enjoying solid demand
growth and a degree of pricing power. The metro area?s glass industry
has been decimated in recent months, with roughly 1,000 jobs having
been lost.?


?Pittsburgh will face a challenging economic environment in 2005, with
modest improvement in job and income growth. Health care, business
services, and finance will again provide key support. Longer term,
Pittsburgh?s efforts to attract high-tech and biotech industries will
improve its growth prospects. In addition, ongoing infrastructure
improvements will spur more intensive commercial use of the airport
and enhance growth in the airport corridor. However, the metro area?s
weak demographics will limit growth.?

Getting to the Point, Inc.
Discover the New Pittsburgh - The Economy
?The driving forces behind our regional economy are education,
healthcare, high technology, biotechnology, financial services and
advanced manufacturing.

Pittsburgh is among the top ten cities in the U.S. for Fortune 500
companies. Those companies who are headquartered here include: USX,
Alcoa, H.J. Heinz, PPG Industries, PNC Financial Services Group,
Mellon Financial Corporation, and Wesco International.?
Pittsburgh scraps steel for software
?Pittsburgh's economy now is a combination of research-driven
businesses, medical services, manufacturing and retail establishments
that helped it create jobs every year in the past decade. But the city
isn't stopping at just business development and job creation.?


Allegheny Conference on Community Development
Allegheny County Profile
Major Employers

Rank                                 Employer Product(s)   Employees

1 UPMC Health System                 Health Care           26,700 
2 West Penn Allegheny Health System  Health Care           10,200 
3 University of Pittsburgh Higher    Education             10,100 
4 PNC Financial Services Group Inc.  Financial Services    6,900 
5 Mellon Financial Corp.             Financial Services    6,500 
6 Giant Eagle, Inc.                  Supermarkets          5,700 
7 Highmark Blue Cross Blue Shield    Health Insurance      5,400 
8 United States Steel Corp Steel     Manufacturing         5,000 
9 Eat'n Park Hospitality Group       Food Services         4,500 
10 USAirways Group, Inc.             Transportation        4,000


The University of Pittsburgh Medical Center (UPMC)
About UMPC
?Economic Impact

UPMC is the largest employer in western Pennsylvania, with a workforce
of 40,000. Throughout the region, it generates an additional 100,000
jobs across a wide range of sectors, including manufacturing,
wholesale, retail, food service, government, and education. In
biotechnology, UPMC?s affiliated companies, joint ventures, and
corporate partnerships account for well over 3,000 skilled jobs in
western Pennsylvania, with potential for significant growth.

The region?s largest concentration of new construction can be directly
attributed to UPMC. Each year, the health system?s construction
activity averages about $250 million, and it supports 2,000
construction-related jobs annually.

As a regional hub of medicine, education, and research, UPMC attracts
patients, students, and scientific investment. Each dollar UPMC spends
generates an additional $1.25 in the region. Therefore, with an annual
budget of more than $5 billion, UPMC?s regional economic impact is
more than $6 billion each year.

The majority of UPMC?s spending benefits people and businesses rooted
in western Pennsylvania: It directs nearly $2 billion to purchase
goods and services, much of it to local companies. UPMC annually
awards about 10 percent of local purchasing contracts to minority and
women business owners, adding up to millions of dollars of activity
each year.?

University of Pittsburgh
Economic Impact Report 2004

University of Pittsburgh School Of Nursing
About Pittsburgh
?In the past 20 years, Pittsburgh has earned a reputation as an
up-and-coming center for health care, industry, science, education,
and the arts. Extensive redevelopment has revitalized the metropolitan
area, and the city's economic base has shifted from heavy industry to
biomedical and applied technology enterprises. Today, research is
Pittsburgh's third largest industry, with more than 150 laboratories
and over 7,500 scientists and engineers based here.?

University of Pittsburgh
Eating the Region?s Seed Corn
June 23, 2003
?In fact, according to a recent study conducted by the national
Council on Competitiveness, the Pittsburgh economy ?is being propelled
by the strength and growth of local universities,? and university
prominence has created ?a platform for innovation in the region.? That
same study reported that, during the past decade, the education and
knowledge creation sector produced more new Pittsburgh-area jobs than
any other sector of the economy and now is the single largest source
of regional employment.?

Pittsburgh Technology Council
About Us
?A world-class technology hub with recognized innovation in all areas
of the industry, the Pittsburgh region is home to some of the most
dynamic ventures, both startup and Fortune 500. Here, companies are
developing the next generation of software and Internet applications,
researching tomorrow's tissue engineering technologies, and perfecting
the latest advanced manufacturing techniques. We're capitalizing on
our unique combination of natural and cultural amenities and a
strengthening technology infrastructure to fuel our growth.?


U.S. Department of Labor
Bureau of Labor Statistics
Pittsburgh, PA
Economy At A glance


I hope this information meets your needs.  Please let me know if you
have any questions.  Thank you again for the question.


Google Search Terms:

pittsburgh economy

pittsburgh "economic base"

pittsburgh economy industries

"pittsburgh's economy"
shikibobo-ga rated this answer:5 out of 5 stars
Very good. Answered the specific question citing multiple sources.

Subject: Re: What drives PITTSBURGH's economy?
From: googlenut-ga on 18 May 2005 19:32 PDT
Hello shikibobo,

I will have your answer within 5 days.

Subject: Re: What drives PITTSBURGH's economy?
From: rapide89-ga on 25 Jun 2005 02:00 PDT
ty for a good reply to the question  are their any pollution problems
in pittsburgh as i cannot understand the real estate values being so
Subject: Re: What drives PITTSBURGH's economy?
From: rjmst80-ga on 17 Dec 2005 16:47 PST
It's a matter of supply and demand.  The population of the City of
Pittsburgh has dropped from nearly 700,000 people to under 350,000 in
the past 25 years.  Pittsburgh is still one of the leading cities in
the country in terms of negative population growth.  This, coupled
with the fact that Allegheny County, the county in which Pittsburgh
lies, has some of the highest real estate taxes in the country, is why
the property values in the city lag behind the rest of the nation.

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