Pittsburgh’s Entrepreneurial Potential
Boasting more university research and development than thirty-two of the fifty states, there is a large ceiling for rapid job growth in Pittsburgh under the leadership of entrepreneurs. Future growth in the entrepreneurial industry of Pittsburgh depends much on investors, which Pittsburgh currently needs to attract. High net-worth individuals can aid a region’s market greatly. In the transition from the steel industry to more of an entrepreneurial and technological outlook in the past three decades, Pittsburgh is quite new to welcoming investors to their economy.
The transition from the Steel Mill Age to being dubbed the “Most Livable City” in the continental United States in 2014, Pittsburgh and its economy has joined the ranks with some of the powerhouse economic cities in the United States. Rebranding Pittsburgh should help to lure more entrepreneurs to the city so they can assist with job growth. The drive to revitalize Pittsburgh has been led mainly by the skyrocketing amount of opportunities for young adults in education and the arts throughout the city. Pittsburgh being chosen as the host of the G20 World Summit by President Obama is one of the cities’ largest educational successes thus far. These opportunities are mainly provided by a plethora of educational facilities, technological hubs, medical centers, and infinite creative arts prospects.
Pittsburgh is enticing entrepreneurs that don’t require “storefronts” to operate their businesses. Non-storefront businesses include; landscaping, carpentry, carpet cleaning, and window cleaners, just to name a few. Many businesses with store fronts utilize non-storefront businesses so they marry very well and succeed in their trades. Pittsburgh is appealing to movie producers to utilize our beautiful city to film their movies by keeping costs low for the movie producers. By keeping costs low for movie producers, Pittsburgh brings work to otherwise unemployed citizens and sparks business for our hotels, restaurants, public transportation companies, service workers, etcetera.
New investors are often attracted to Pittsburgh because of the deep financial family history in the city; including the likes of the Mellon, Carnegie, Westinghouse, and Frick legacies. The success stories of Fortune 500 companies such as BNY Mellon Corporation, PPG Industries, and US Steel in Pittsburgh have attracted technological superpowers, such as Google, and persuaded their investors to dedicate to locating a substantial amount of offices in the city. Since Pittsburgh has built a foundation for growth over the last thirty years and added top-notch technology, research and development, training, and education to that base, entrepreneurs are looking to the city to invest their funds!
Sources:
Laboon, Phil. What Entrepreneurs Can Learn From Pittsburgh’s Renaissance. Forbes, 8 Sept.2014. Web. 18 Feb. 2015.
The Frick Mansion “Clayton”. Frick Art & Historical Center. Web. 22 Apr. 2015.
Pittsburgh Plate Glass building (PPG Industries), Pittsburgh, Pennsylvania. Elizabeth Pitcairn. Web. 22 Apr. 2015.