pittsburgh region overview - welcome to...
TRANSCRIPT
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Pittsburgh Region Overview
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Regional Overview
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A Snapshot of the Pittsburgh Region
• 10 counties = 7,200 sq. miles
• Population = 2.6 million
• Gross Regional Product =
$119 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
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Today, We’ve Made a Comeback
• Total employment, 1970-mid 2012
1,254,708
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We’re Outperforming the National Average
October 2012 Regional Indicators
Pittsburgh Region Nation
Unemployment Rate Jul-12 7.7% 8.6%
Jul-11 7.6% 9.3%
Civilian Labor Force (000's) Jul-12 1,395.2 156,526.0
% Change from Jul-11
2.6% 1.1%
Average Wage 1Q 2012 $47,565 $48,691
% Change from 1Q 2011
4.2% 2.9%
Cost of Living Index 2Q 2012 92.6 100.0
Median Home Price (000's) 2Q 2012 $133.0 $185.0
% Change from 2Q 2011
3.1% 7.6%
Average Domestic Airfare 1Q 2012 $359 $373
Unemployment Rate and Civilian Labor force reflect the 10 county region on a non-seasonally adjusted basis. Average wages reflect four quarter average.
Sources: US Bureau of Labor Statistics; PA Department of Labor & Industry; C2ER; NAHB/Wells Fargo Housing Opportunity Index; Bureau of Transportation Statistics
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And The World is Paying Attention!
Recent rankings for the region include: • Most Livable U.S. City, The Economist
• 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
• Top 10 City for Job Growth, Forbes.com
• Best Cities for Recent Graduates, Huffington Post
• Best Trips for 2012, National Geographic Traveler
• Least-Costly Place to Do Business, KPMG
• Top Ten American Comeback Cities, Forbes
• U.S. Cities with the Best Urban Policies, Future Metropolis Index
• A Top Ten Metro Area for Brain Gain, Wall Street Journal
• The U.S. Cities with the Fastest Growing Job Markets, The Atlantic Cities
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Site Selection Ranks Pittsburgh a “Top 10
Metro” for the 4th Year
• Ranked a “Top 10 Metro” by Site Selection
magazine for four years running (2008-2011)
Year Site Selection Ranking
2011 Number 3
2010 Number 8
2009 Number 7
2008 Number 7
“Pittsburgh’s rise in our ranking of Top Metros to third place from eighth the previous year is
the most significant improvement of the metros in that tier. “[The ranking of Pittsburgh as a
No. 1 metro in the Northeast] confirms that the economic development leadership of the
Pittsburgh region is delivering the location solutions required of today’s site location
decision makers.”
-Mark Arend, editor in chief of Site Selection, March 2012
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Recent Wins
Alstom Grid’s disconnect switch
manufacturing facility
Google Pittsburgh
Three
PNC
Plaza
Dick’s Sporting Goods HQ Range Resources new
regional HQ
Valerus Compression Services
facility
Hormann Flexon groundbreaking
North Shore Connector
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World HQ to 15 Fortune 1000 Companies
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Strong Foundation in Five Strategic Sectors
Advanced Manufacturing
Energy
Financial & Business Services
Health Care &
Life Sciences
Information & Communications
Technology
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Advanced Manufacturing
• A century-long tradition of world-leading innovation and manufacturing excellence
• Assets
• World HQ for global leaders
• 120+ research centers
• Nearly 96,000 skilled workers
• Strengths
• Electrical equipment
• Industrial machinery
• Nanotechnology
• Precision machining
• Specialty chemistry
• Specialty metals
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What’s New: Additive Manufacturing
• Uses precision technology to
create components through 3-
D printing, where parts are
formed through a digital model – Defense, aerospace and biomedical
applications
– Eliminates tooling costs, reduces
material waste and creates complex
components
• National Additive
Manufacturing Innovation
Institute (NAMII) – Department of Defense awarded
$30M grant for NAMII with $40M
matched by the consortium from the
Tech Belt region
“It puts us on the map for corporations and investors looking for the places that are driving innovation in the country.”
– Dennis Yablonsky, CEO, Allegheny Conference on Community Development
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Energy • Pittsburgh is the new center of American
energy; ample natural resources and a 150-year history of energy innovation
• Assets
– 800+ firms that directly support 50,000+ jobs
– Uniquely strong across seven energy industries
• Strengths – $1B in energy-related R&D funding
– National Energy Technology Lab
– Consol R&D Center, U.S.’s only private coal R&D facility
– University R&D
– Energy Alliance of Greater Pittsburgh
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Financial & Business Services
• A center for asset management, banking and shared services for more than 150 years
• Largest industry contributor to Gross Regional Product, contributing 23%
• Assets – World HQ for global leaders
– Employing 230,000 people at some 15,000 firms
– Home to an above average concentration of lawyers, accountants and auditors
– Half of all U.S. bank deposits are located within 500 miles of Pittsburgh
• Strengths – Corporate HQ and Shared Services
– Legal Services
– Mortgage Servicing
– Transaction Processing
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Health Care & Life Sciences • Unique convergence of research and
clinical assets
• Assets
– 5,500+ HC&LS companies in the region
– $713M+ spent on Life Sciences R&D annually
– Nearly $500M in NIH Funding annually
– Specialized centers
• McGowan Center
• Quality of Life Technology Center
• Hillman Cancer Center
• Strengths
– Medical devices
– Regenerative medicine
– Tissue engineering
– Diagnostics
– Transplants
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Information & Communications Technology
• Synergy between corporate and academic R&D
• Assets
– Universities
– Carnegie Mellon, University of Pittsburgh, California University of Pennsylvania (PA), Indiana University of PA, Penn State University
– 1,500 tech firms with 25,000+ employees
– Nearly $1.8B in venture capital invested in emerging regional businesses in the past decade
• Strengths
– Data storage
– Agile robotics
– Cyber-security
– Networking hardware
– Electro-optics
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Pittsburgh’s Water Opportunity • Regional Strengths:
– Water-rich/U.S.’s most reliable watershed
– 3,000+ water companies
– Innovation, talent
• Water Economy Network: – Industry, academia and economic
development collaboration
– Developing solutions to water challenges
around the globe
– Solidifying our region’s competitive advantage
• Demonstration Projects:
– Energy development and water management
– Navigation infrastructure, monitoring, and
water security
– Storm water and green infrastructure
– Regional watershed and drinking water
interactions
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A Global Destination for
Business Investment
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Home to 300-Plus International Firms
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Source: Global Insight, 2012
Rank Country/Metropolitan Area GDP/ GMP
($bil)
1 United States $15,094.0
2 China $7,298.9
4 Germany $3,569.5
5 France $2,774,4
7 United Kingdom $2,416.4
12 Spain $1,492.5
14 New York-Northern New Jersey-Long Island, NY-NJ-PA $1,287.7
20 Los Angeles-Long Beach-Santa Ana, CA $755.0
23 Chicago-Joliet-Naperville, IL-IN-WI $546.8
78 Portland-Vancouver-Hillsboro, OR-WA $139.4
79 St. Louis, MO-IL $133.1
80 Vietnam $123.8
81 Pittsburgh, PA $118.8
82 Charlotte-Gastonia-Rock Hill, NC-SC $117.8
83 Tampa-St. Petersburg-Clearwater, FL $115.2
Pittsburgh’s Economy by Comparison
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Global Investment Dates Back 100+ Years
1900 1900 1910 1920 1930 1940 1890
1896 – H.J. Heinz Co.
opens first foreign
office in England
1901 – Alcoa expands
into Canada
1902 – PPG Industries
acquires European glass
plant
1930s – Mine Safety
Appliances establishes
operations in Canada
TODAY
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Today, Global Business is Integral
• 27 of 38 public companies generate a portion of their revenues internationally – 24 maintain facilities outside the country
• In FY 2011, the Pittsburgh region’s public companies generated over $46 billion in revenue outside the U.S., a 35% increase over 2006 – 37% of total revenues
• Regional companies control over $26 billion in foreign assets – Nearly 40 % of their asset value
• Regional companies generated nearly $4 billion in overseas profits – Half of total profits
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Foreign Owned Companies Impact Our
Regional Economy • Foreign owned
companies employ 53,000+ people in the region
• Nearly 400 companies operating at 1,000+ locations
• The average foreign-owned firm in the region employs 140 people, compared to 17 for all firms in the region
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Countries With the Largest Presence
Germany – 70 companies, 172 locations, 10,400 employees
- Allianz, BASF, Bayer, Lanxess, Siemens, SMS-Demag
United Kingdom – 80 companies, 266 locations, 9,300
employees - BAE, Cookson Group, Hanson, Royal Bank of Scotland
Canada – 37 companies, 61 locations, 4,600 employees
- Bombardier, Calfrac, Hatch, Stantec, Talisman Energy
Japan – 30 companies, 62 locations, 10,100 employees
- Fujitsu, Hitachi, Mitsubishi, Sanyo, Toshiba
France – 29 companies, 51 locations, 3,600 employees
- Alstom, Areva, AXA, Group SEB, Veolia Environment
Netherlands – 16 companies, 79 locations, 4,100 employees
- Royal Dutch Shell, Royal Philips Electronics, Univar NV
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Largest Foreign Employers
6,000 employees at headquarters, R&D and
manufacturing facilities
2,700 employees at North American
headquarters, divisional headquarters,
R&D and manufacturing facilities
2,200 employees at numerous branch
operations
1,850 employees at regional headquarters,
back office operations and 120 branches
1,750 employees at division headquarters,
manufacturing and back office operations.
12 locations employing 1,600 including
division headquarters, plants and branch
offices
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Recent Foreign Investment Highlights • Hormann Flexon – German manufacturer developing new 68,000 SF
plant that will employ 100 people
• Shell – Acquired East Resources to access Marcellus Shale play. Established 76,000 SF regional headquarters to accommodate over 300 employees
• Spreadshirt – German manufacturer of custom apparel added over 100 jobs to its regional production facility in 2011
• Talisman – Canadian energy company relocated US headquarters from New York to 72,000 SF facility for up to 300 employees
• Weatherford International – Swiss energy services firm opened 53,000 SF services building for 100 employees
• Westinghouse – Chose region for new $200 million headquarters and engineering center in 2007 resulting in 3,000 new jobs
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Regional Companies Active in Global
Investment
Outbound FDI 2007 2008 2009 2010 2011 Total
New Operations No. 28 16 15 14 17 90
Jobs 217 N/A N/A N/A N/A 217
Expansions No. 2 2 1 0 2
7
Jobs N/A 50 N/A 0 N/A
50
Acquisitions No. 14 11 9 8 16
58
Jobs 19,297 3,280 3,100 2,613 4,250 32,540
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Inbound FDI 2007 2008 2009 2010 2011 Total
New Operations No. 15 17 16 24 23 95
Jobs 931 877 377 1,088 700 3,973
Expansions No. 11 14 2 13 22 62
Jobs 1,590 2,870 900 1,213 1,588 4,460
Acquisitions No. 12 16 5 5 12 50
Jobs 4,531 2,279 1,484 278 721 9,293
Pittsburgh a Popular Choice for Foreign
Investment
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Entrepreneurial Landscape
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$788 Million
• Over 100 companies
received more than $788
million in venture capital
between 2005-2010 in
the Pittsburgh
metropolitan area
$271 Million
• Nearly 65 companies
received $271 million in
venture capital over the
past 18 months
Venture Capital Investment
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R&D Expenditures
• At least $3 billion total in R&D expenditure:
$1 billion at the University of Pittsburgh and
Carnegie Mellon University
$1 billion at the National Energy
Technology Lab & Bettis National Lab
$1 billion in private R&D
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Pittsburgh’s Universities Drive R&D
• The University of Pittsburgh is a top-20
public university with more than $822
million in research expenditures last year
• Carnegie Mellon University ranks in the top
50 universities in the world – CMU’s school of computer sciences is ranked first with MIT,
Stanford and Berkeley
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University R&D is Increasing
R&D Expenditures by Local Colleges and Universities: 2001-2009
$0
$100.000
$200.000
$300.000
$400.000
$500.000
$600.000
$700.000
$800.000
$900.000
2001 2002 2003 2004 2005 2006 2007 2008 2009
In T
ho
usa
nd
s
Math & Computer Sciences Engineering All Other
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Resources For Entrepreneurs Pittsburgh Regional Alliance 11 Stanwix Street, 17th Floor
Pittsburgh, PA 15222
(412) 392-1000
www.pittsburghregion.org
AlphaLab
InnovationWorks accelerator program 2325 E. Carson Street
Pittsburgh, PA 15203
(412) 535-8282
http://alphalab.org
Catalyst Connection 2000 Technology Drive
Pittsburgh, PA 15219
(412) 918-4300
www.catalystconnection.org
Idea Foundry 4551 Forbes Avenue, Suite 200
Pittsburgh, PA 15213
(412) 682-3067
www.ideafoundry.org
PA Department of Community and Economic
Development (DCED) 866-GO-NEWPA
www.dced.state.pa.us
Pennsylvania Nanomaterials
Commercialization Center 2000 Technology Drive
Suite 100
Pittsburgh, PA 15219
(412) 918-4239
www.pananocenter.org
Pittsburgh Life Sciences Greenhouse
2425 Sidney Street
Pittsburgh, PA 15203
(412) 201-7370
www.plsg.com
Pittsburgh Technology Council
2000 Technology Drive
Suite 100
Pittsburgh, PA 15219
(412) 687-2700
www.pghtech.org
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Talent & Education
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Highly Educated Workforce
Of the Top 40
MSAs, Pittsburgh
ranks…
5th-highest proportion of
25-34 year old workforce
with a Bachelor’s or
higher
Highest proportion of 25-
34 year old workforce
with a Graduate or
Professional degree
Lowest proportion of 25-
34 year old workforce
without a high school
diploma or equivalent
Source: U.S. Census Bureau
0,0%
10,0%
20,0%
30,0%
40,0%
50,0%
60,0%
Total 25 to 34years
35 to 44years
45 to 64years
65 years andover
U.S. Pittsburgh Region
College Degree by Age – Ten County Region
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Colleges and Universities
• 36 Colleges and Universities operate in the Pittsburgh
region
• Over 36,000 degrees awarded annually
• 169,000 students enrolled annually
• World-Class Rankings – Carnegie Mellon
• 1st-Best Computer Science Ph.D. program (U.S. News and World Report)
• 35th-Best University in the World (London Times)
• 5th-Best Business School (Wall Street Journal)
– University of Pittsburgh
• 88th-Best University in the World (London Times)
• Best Business School Value in the U.S.; 8th-Best in the World (Financial Times)
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Key Location Factors
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• Rail – Over 1,300 miles of railway
– Three Class 1 railroads
• CSX
• Norfolk Southern
• Canadian National
• Pittsburgh International
Airport – 158 average daily departures to
38 destinations across the
globe
• Three rivers – Second busiest inland port
• Within 500 miles of… – 41% of U.S. businesses
– 43% of U.S. & Canada
populations
Strategic Market Access
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Safe Location, Extremely Low Risk of
Natural Disasters
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Quality of Life
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We Work Hard to Give Every Resident a High Quality of Life
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Housing Costs
• “The best place to buy right now:
Pittsburgh. For a housing market
to be attractive it should have
appreciating prices that show
homeowners are making wise
investments; an affordability
rating that gives middle-class
families with good credit entry
into the market; and a relatively
low number of foreclosures,
which keeps prices stable and
indicates there isn’t an excess of
inventory. Pittsburgh has all
three.” – Forbes Magazine, February 2010
Most affordable housing market
rankings (populations greater
than 1 million):
• Pittsburgh 84.8
• Charlotte 79.7
• Denver 80.1
• Chicago 78.0
• Philadelphia 79.2
• Houston 76.4
• New York 31.5 Source:
National Association of Home Builders/Wells Fargo
Housing Opportunity Index (Q1 2012) calculates the
percentage of people who can afford to buy a house
based on the area’s income in relation to the housing
prices. The higher the number, the more affordable
the housing market.
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World-Class Health Care
• University of Pittsburgh Medical Center (UPMC) ranked the 10th-best
national medical system in the country (U.S. News & World Report, 2012),
the highest ranked among Pennsylvania medical centers
– Previously ranked 12th by U.S News & Report, 2011
• Children's Hospital of Pittsburgh
– Includes the 300,000 SF Rangos Research Center
– Ranked in the Top 10 of “Best Children’s Hospitals Honor Roll” (U.S. News & World
Report, 2011)
• West Penn Allegheny Hospital ranked in the top 50 centers in the nation
for quality care in cardiology and heart surgery, gastroenterology and
orthopaedics (U.S. News & World Report, 2011)
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Arts & Culture
• More than 500 arts and
cultural organizations – World class museums, performing arts
organizations & neighborhood entities
• One of the country’s five
largest downtown theater
districts
• Third Best Arts
Destination – Mid-sized
cities (American Style)
• World-class architecture
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City of Champions
• Home to three professional
sports franchises – NHL, Penguins
– MLB, Pirates
– NFL, Steelers
• Three NCAA Division I
schools – University of Pittsburgh
– Duquesne University
– Robert Morris University
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Pittsburgh’s Backyard
• With more rivers and streams than any other
continental state, the area is ideal for fishing, boating,
kayaking and rafting – Top Ten Urban Kayaking Cities (National Geographic Adventure)
– One of the best adventure towns to live and play in (National Geographic Adventure)
• Ranked one of the top five cities for mountain biking,
the Great Allegheny Passage Trail – 335 miles stretching from the Point in downtown Pittsburgh to Washington D.C.
– America’s Top 50 Best Bike Cities, (Bicycling.com)
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Named Among the Best Trips For 2012 by
National Geographic Traveler
• National Geographic’s Traveler
magazine named Pittsburgh
among the 20 best trips to make in
2012
• Pittsburgh was one of only two
U.S. trips named in the publication
• Pittsburgh was listed among the
monumental fjords of Iceland, the
perfumed oasis of Oman, the
biodiversity of Panama and sun-
drenched beaches of Thailand as
a location not to miss
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How We Can Help
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Our Model
Pittsburgh
Regional Alliance
Marketing
Pennsylvania Economy League of Southwestern
Pennsylvania
Research & Analysis
Regional Investors Council
Providing time, talent and resources to advance the agenda.
Greater Pittsburgh
Chamber of Commerce
Advocacy
The Conference is the parent organization for its three affiliates – the Pittsburgh Regional Alliance (PRA), the Greater
Pittsburgh Chamber of Commerce and the Pennsylvania Economy League of Southwestern Pennsylvania – that share a
strategic vision and work together for regional improvement, setting the 21st-century standard for civic stewardship:
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Pittsburgh Regional Alliance (PRA)
• Markets the benefits of conducting business in the
10-county Pittsburgh region to companies all over
the world that are growing, relocating or expanding
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PRA Services
Named Top-10 U.S. Economic Development Organization
by Site Selection three years in a row
• The PRA offers the
complete package at no
charge
– A team of professionals,
who tailor their services to
meet your needs
– A vast network of public
and private leaders and
professionals from across
the 10-county region
• Streamlined Services
– Site selection assistance
– Pittsburghprospector.com
– Global business assistance
– Market research and
analysis
– Financial assistance
– Talent attraction and
retention
– Peer executive meetings
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For More Information
Suzi Pegg
Vice President, Global Marketing
412-392-4555 ext. 4544
@ImaginePGH
Pittsburgh Region
Pittsburgh Regional Alliance
ImaginePittsburghNow.com