The Pittsburgh Region Excels with 286 Economic Development Deals and Lands No. 3 position among nation’s Top 10 Site Selection Metros

Posted March 15, 2012

(PITTSBURGH – March 14, 2012) – The economic recovery continues to be sluggish in many parts of the country, but not in Pittsburgh, Pennsylvania. Thanks to continued strength across a diverse economy, the Pittsburgh region has landed 286 economic development deals in 2011, pushing ahead of its performance in the previous year and maintaining its momentum toward pre-recession levels of business activity. The "wins" of 2011 represent nearly $1.5 billion in capital investment and are expected to create 11,440 new jobs.

Including announced investment and development projects, the wins reflect an increase over the 272 projects logged in 2010 and approach the 290 wins reported, pre-recession, in 2008.  This data is compiled annually by the Pittsburgh Regional Alliance Partnership, a coalition of 50-plus private and public sector leaders and economic development professionals from 10 southwestern Pennsylvania counties.

"Existing businesses in the region are expanding – accounting for nearly 70 percent of the deals in 2011, but relocation projects also increased over the past year to 58, up from 47 in 2010. This total tops the numbers logged since we started tracking wins five years ago," said Dennis Yablonsky, CEO of the Allegheny Conference on Community Development and its affiliates, including the Pittsburgh Regional Alliance (PRA).

Energy Continues to Capitalize on the Region's Rich Store of Natural Assets and Fuels Economy

Cutting across a number of industries, energy accounted for a total of 79 wins. These reinforce the depth of the region's assets in traditional and renewable energy resources, energy supply chain and energy conservation. Existing natural resources-related business expansions underscore the expanding opportunities related to the Marcellus Shale.

The region's other key sectors had strong performances in 2011:

Employment Estimates Translate to Real Growth

The announced 286 economic development deals are expected to create 11,440 new jobs in the Pittsburgh region – an estimate that's consistent with anticipated job creation announced in 2010 and close to the impact anticipated in both 2007 (12,272 jobs) and 2008 (13,208 jobs).  In addition, the deals announced in 2011 will also retain 5,620 jobs for a total regional employment impact of more than 17,000 jobs.

Pittsburgh is No. 3 Among Site Selection's Top Metros Nationwide and No. 1 for Northeast Region

Reinforcing the region's resilience is Site Selection magazine's awarding of a 2011 Top 10 Metros designation to Pittsburgh for the fourth consecutive year.  For the latest ranking Pittsburgh moved up to the No. 3 position in the nation from No. 8 in 2010.  New this year, Site Selection examined which regional metros did particularly well.  Pittsburgh was ranked No. 1 for the Northeast U.S. region, stepping ahead of cities such as New York and Philadelphia.

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Contact: Philip Cynar, Pittsburgh Regional Alliance / 412-281-4783, ext. 4573; pcynar@pittsburghregion.org