FEBRUARY 2008

Articles | Events

Holtec Expands Nuclear Business, Hiring 500
A significant benefit for the Pittsburgh region associated with Westinghouse Electric Company’s landmark headquarters expansion – in addition to thousands of new jobs and $140+ million invested – is its effect on Pittsburgh regional manufacturing and the nuclear energy supply chain. This can be seen in the large-scale growth of Holtec Manufacturing (Turtle Creek, Pa.), which is supplying equipment for Westinghouse-built nuclear power plants in China. Having hired 75 employees last year, the company plans to increase its local workforce by 500 more in the next few years..

From Pop City Media:

“Riding on the tide of renewed interest in nuclear energy, the Holtec Manufacturing Division in Turtle Creek has expanded its plant and is hiring 500 in the next three to five years. Formerly U.S. Tool & Die, HMD makes dry fuel storage canisters and high tech racks for nuclear utilities in the U.S. and around the world. Last year the Marlton, New Jersey-based firm, Holtec International, added 90,000 square feet to its manufacturing division, located on the site of the old Westinghouse East Pittsburgh Works … [Meanwhile] Exports and manufacturing is emerging as a local bright spot in the midst of the flagging economy …” Read the full article.

400 jobs Created/Retained with State Investment
Pennsylvania’s support of two economic development projects will generate 152 new jobs in the city of Pittsburgh within three years and help to retain 245 others. The Commonwealth is offering financial packages totaling $907,200 to CardWorks Inc. and TechAssist LLC, which in turn will leverage nearly $1.4 million in private investment by the companies. TechAssist (96 new jobs) is relocating its national operations center from Washington, D.C. to downtown Pittsburgh to support the growth of its IT consulting business. CardWorks (56 new jobs, 245 retained) is consolidating two existing operations at a new location. Read more.

NIH Funding: University of Pittsburgh Sixth in Nation
In an era when the federal budget for biomedical research is failing to keep up with inflation, the University of Pittsburgh has improved its ranking to sixth in the nation among academic institutions and their affiliates in funding from the National Institutes of Health (NIH) – a universally recognized benchmark of research excellence. Newly released data for fiscal year 2006 shows that Pitt received $447 million in NIH research support, with almost 95 percent of this funding coming to the university’s six health sciences schools. Pitt also ranks fourth nationally in the number of individual grants received. Read more.

Growing Companies Shrink Electricity Rates: New Duquesne Light Program
Duquesne Light is introducing an economic development program designed to encourage commercial and industrial customers in the region to expand and add new jobs by providing discounted electric prices. The program supports expanding commercial and industrial customers by offering a discount of up to $3 per megawatt (MW) of new load for up to three years at new or expanded facilities. Read more (PDF file).

Wolfpac Technologies Expands its Manufacturing Presence
Construction products manufacturer Wolfpac Technologies (Leetsdale, Pa.) plans to add 37 new positions after opening its second plant on 10 acres at the city’s old LTV steel mill site on the Ohio River (Aliquippa, Pa.), a plot formerly owned by the Beaver County Corporation for Economic Development. Construction is under way; the plant is expected to open this Spring. Read more.

Wow Global Acquired – Stays Put and Adds 20-40 Jobs
Having grown its workforce from two people to 220 in just six years, Wow Global (Robinson, Pa.) – provider of locally-based staff augmentation to Information Technology companies – was recently acquired for $7.4 million by Orlando-based Riptide Worldwide, Inc., a business process management and software company. The global company, with thriving operations in India and the Middle East, reported $19 million in revenue for 2007. It will expand its Pittsburgh region headquarters by 20-40 employees. Read more.

Latrobe Specialty Steel Expands
Latrobe Specialty Steel Company (Latrobe, Pa.), major producer of high-alloy specialty steels used primarily by the aerospace and defense industries, recently announced a major expansion of its vacuum remelting facility for high-alloy specialty steels. It will also expand its building size and create new positions at its plant for finishing operations (Sandycreek, Pa.). Locally founded in 1913, Latrobe Specialty Steel employs 900 people in ten locations throughout North America and Europe. Read more.

$215M Hasbro Deal for Local Innovator
Innovative product developer Thorley Industries (Pittsburgh, Pa.) recently landed a $215 million deal with global toymaking giant Hasbro to develop a new product line. The deal includes a 50-year license to manufacture and sell two (undisclosed) new products that use robotics technology for everyday applications. Thorley Industries is hiring engineers and patent lawyers. Read more.

Thru Tubing Chooses Pittsburgh for Pa. Location
Oklahoma-City based Thru Tubing Solutions, provider of field services and engineering expertise in working downhole tools under pressure, has chosen to establish its 14th location nationally in Vista Business Park (Robinson, Pa.) with a 5,800 SF of flex space, citing its ideal location nine miles from Pittsburgh International Airport and Downtown Pittsburgh. For information about Vista and other ready-to-go business sites in the Pittsburgh region visit PittsburghProspector.com.

Book Country Expands Distribution Facility
Book Country (McKeesport, Pa.), one of the nation’s largest distributors of bargain books, is investing $1 million to expand its local warehouse location and plans to double its 30 person workforce. Allegheny County provided support with a loan for equipment. The new warehouse space will be utilized by Book Country’s e-commerce affiliate, Bellwether Books.

Equity Firm Invests Here: Unlimited Horizons
New York-based equity investment firm Unlimited Horizons, Inc., has purchased the assets of Ebtech Industrial Offices out of St. Louis, Mo., and has relocated that business to the Fay-Penn Multi-Tenant Building (Connellsville, Pa.). A new Delaware corporation, UH Structures, Inc. dba Ebtech Industrial Offices, was created as part of the November 2007 purchase. The new company expects to create 10 jobs within three years. Fay-Penn Economic Development Council assisted UH Structures dba Ebtech Industrial Offices with $100,000 in financing to aid in the purchase of equipment, tools, and leasehold improvements. Additional funding also included a $100,000 loan from Community Bank.

Pittsburgh Supercomputing Center: Unprecedented Biomedical Research Capacity
Having acquired the latest in global computing technology, the Pittsburgh Supercomputing Center (PSC) can now provide researchers across the nation with unprecedented “shared memory” for biomedical research. The PSC has also elevated its status as a supercomputing power in the National Science Foundation’s TeraGrid – the NSF program that provides highly advanced computing resources to researchers and educators across the nation for U.S. science and engineering research. Read more.

Growing Export Center: Region Rises to 24th Largest Export Area
The Pittsburgh region ranked as the 24th-largest exporting area in the country in 2006, sending $8.3 billion in goods abroad each year – up from 27th place in 2005 with nearly $6.9 billion in goods (U.S. Commerce Department). The Pittsburgh region’s five largest exporting partners included Canada, Mexico, Belgium, China, and West Germany; the five most-exported product types were metal manufacturing goods, chemicals, mining except oil and natural gas, machinery excluding electrical equipment, and computer and electronic products.

Tech Start-Up Haven: Innovation Works Invests $100M in 2007, Adds 100th Portfolio Company
Innovation Works, the Pittsburgh region’s most active and largest seed-stage investor in technology start-ups, invested in its 100th company since the inception of the organization’s seed fund in late 1999. The portfolio companies also reached an unprecedented single-year milestone of attracting more than $100 million in follow-on investment from private and other sources in 2007. Innovation Works also made more first-time investments in 2007 than in any other single year since its inception (17). Read more.

Elliance Wins National Excellence Award for Marketing
Elliance, Inc., a Pittsburgh-based, strategic e-marketing firm, has been awarded Best in Class by the Interactive Media Awards for its design of the Pittsburgh Glass Center Web site (www.pittsburghglasscenter.org). The honor recognizes that the project met and surpassed the basic standards of excellence that comprise the Web’s most professional work. The site was honored specifically for excellence in the nonprofit category. Read more.

Air Traffic Soars at Pittsburgh International
Pittsburgh International Airport November 2007 Passenger Traffic Report:

• Eight airlines report increased traffic in November 2007
• Four airlines report increases of more than 20 percent
• All airlines other than US Airways report combined gains of 9.1 percent

Read more

One of Nation’s 100 Best Communities for Young People: Indiana County
America’s Promise Alliance (the Alliance), the nation’s largest alliance dedicated to children and youth recently announced that Indiana County has been named a winner of its 2008 100 Best Communities for Young People competition because of its commitment to providing different opportunities for its youth to grow and succeed. Read more.

EVENTS

Wednesday, February 20, 2008 – Kickoff for the EnterPrize Business Plan Competition: Workshop on “Developing the Idea.” Since its inception individuals who had participated in the Pittsburgh Technology Council’s EnterPrize Competition have gone on to attract more than $100 million in venture capital, regardless if they were selected as winners. Workshop held at the Pittsburgh Technology Center from 5:30 – 7:30 p.m. Members: $24, Nonmembers: $40.

Wedesday, February 20, 2008 – International Sales Channel Development is part of Catalyst Connection’s series of one-day courses on how to improve the effectiveness of your international sales program. Anyone responsible for managing international sales and directing sales channel partners, such as CEOs, general managers, directors of sales and sales managers should attend.

Monday, March 24 – March 25, 2008 – Cornerstones Symposium 2008: Transforming Cities Through Knowledge-Based Innovation. Featuring regionally and globally renowned experts and executives presenting thought/action-provoking findings regarding robust economic development. March 24 – Pre-symposium events and VIP reception, The Duquesne Club. March 25 – Symposium ’08, University Center, Carnegie Mellon University. Call Robert Johnston at 412.268.9554 or rj@andrew.cmu.edu for more information.

Sunday, June 22 – June 25, 2008 – 2008 ASEE Annual Conference & Exposition. Join the American Society for Engineering Education (ASEE) in Pittsburgh for the 115th Annual ASEE Conference & Exposition. Promote your brand and enhance your recruiting efforts at the world’s largest gathering of engineering educators.

Wednesday, April 16 - 17, 2008 – 3 Rivers Venture Fair. Explore the most promising technology and life science innovations from an expansive ten-state region and beyond. Join more than 500 venture capitalists, investors, entrepreneurs, university and economic development professionals and technology pioneers for the fourth 3 Rivers Venture Fair at the Lexus Club, PNC Park. Since its inception, the 3RVF has become one of the most prominent technology investment showcases in the Northeast and Mid-Atlantic regions and has helped featured companies raise more than $250 million in investment capital. Early-bird registration rates end March 5. Questions? Contact Debbie Shiring at 724.226.3962 or d.shiring@verizon.net.

SAVE THE DATE:

Wednesday, August 13 – 15, 2008 – 2008 ARMTech Showcase of Industry and Technology. Part of the Armstrong County Regional Manufacturing Initiative, this 10th annual three-day Showcase will feature nearly 100 exhibits from across the country, allowing regional businesses and organizations to build relationships with respected industry professionals. Attending will be exhibitors from the electro-optics, advanced manufacturing, medical research, aerospace and defense contracting fields, joined by U.S. Rep. John Murtha. Questions? Contact Nick Caruso at 724.548.1500.