FEBRUARY 2010

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Drilling Company Seizes Pittsburgh Regional Energy Opportunity

The newest member of the Pittsburgh regional supply chain, that is now positioned to capitalize on the extensive opportunities in the energy sector, is Morgantown W.Va.-based drilling company Shaft Drillers International. The company is purchasing 62 acres in the Mt. Morris (Greene County) Meadow Ridge Business Park, which also boasts a Keystone Opportunity Zone that carries with it local and state tax breaks through 2017.

The region's ample natural gas and coal reserves were no doubt a motivating factor in this mining company’s location decision. In addition, Shaft Drillers will benefit from financial incentives from the Commonwealth of Pennsylvania.

Read more about this project | View one-page fact sheets on the Marcellus Shale (PDF) and the Pittsburgh region's overall energy industry (PDF)

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More Economic Development News

Dick's Sporting Goods Opens $150M Corporate Headquarters by Airport
"After three years of design and construction, Dick’s Sporting Goods plans to fully occupy its new corporate headquarters by the end of this month. Employees are starting to move in now; about 1,200 Dick's employees will occupy the space initially. The $150 million, 670,000 SF complex occupies 116 acres of land beside the main runway at the Pittsburgh International Airport. The center is the first phase of what eventually could be a two million SF complex." Read more

Bakery Square: $150M Mixed-Use Center Develops East End in New Direction
As reported in last month's cover story Google Pittsburgh is investing $150 million as a tenant of Bakery Square – the former Nabisco factory turned mixed-use site. It's "quickly filling up with retailers and big-name corporations and institutions … The build-out is being designed by Strada, and the offices are expected to open in May." Read More

First Niagra Looks to Expand in Pittsburgh
First Niagara Financial Group Inc. is looking to expand its Pittsburgh-area presence in 2010 [and is in the process of investigating business site options]" Read more

Chicago-Based Trustwave Buys Pittsburgh Startup Bit Armor; Staying Put
"Chicago-based Trustwave has purchased Bit Armor, the Pittsburgh data security startup that has grown at a phenomenal pace since 2003. ‘We've taken the company from two people and a power point presentation to a world class encryption company. This will allow us to grow the company faster than we could have done on our own,' says Patrick McGregor, who formed the company with Matt White, a former Carnegie Mellon roommate." Read more

WhereverTV Takes Connect TV to the Next Level, Growing
"WhereverTV, the Pittsburgh startup connecting international TV to living rooms everywhere, is now one of the largest providers of Indian cable programming in the world … A hot stop at consumers and electronics shows this past year, WhereverTV was recently selected by AlwaysOn as one of the 2010 OnMedia Top 100 Winners, the most innovative and hottest emerging companies in digital media." Read more

ShowClix Unveils Android Scanner App, Expanding & Hiring
"Pittsburgh ticketing startup ShowClix has added an innovative new app to its product line and moved into roomy new offices in (Pittsburgh's east end neighborhood) Shadyside. The company also has hired Tom Costa, formerly of Landslide, as COO and plans additional hires in the next six months … [Its] latest offering is Axess, an app created for the Google Android system that turns Android powered devices like the Nexus One and Motorola Droid into barcode ticket scanners." Read more

Landslide Software Startup Expands with $8M and New CEO, Hiring
"Landslide, a leader in next generation salesforce solutions software, has secured $8 million in growth capital … and welcomed Rick Faulk from Boston as president and CEO … The Robinson Township office currently employs 30; the company will add another 10 in sales, engineering and support this year." Read more

Regional Office Vacancy Rate Stable Through 2009
"The Pittsburgh region's office real estate market remained stable in 2009 with a vacancy rate of 15.5 percent, almost unchanged from 15.4 percent at the end of 2008, according to a recent report. The region showed an increase in new occupancy last year, said Grubb & Ellis in its Fourth Quarter 2009 Office Trends Report." Read more

Moody's: Pittsburgh Among Five Areas to Fair Better in 2010 Real Estate
"After a dour year where housing prices fell more than 12% nationwide, will 2010 bring sunnier tidings? The short answer: only a tad in a select few places … The five areas that Moody's foresees home prices performing best in 2010 are: Tacoma, Wash. (an increase of 2.44%); Memphis, Tenn. (up 0.99%); Pittsburgh (up 0.89%); Charleston, S.C. (up 0.18%); and Seattle (decline of 0.50%). Read more

Pittsburgh Region Gaining $24M in Federal Defense Dollars
"Southwestern Pennsylvania is on target for $24 million in federal funds for projects as part of the 2010 Defense Appropriations Act approved by Congress." Recipients range from forward-thinking companies to cutting-edge R&D institutions. Read more

University of Pittsburgh Receives $15M Nanoscience Grant
"A $15 million grant Pitt recently received from the National Institute of Standards and Technology (NIST) is the keystone of a four-year, $27.8 million expansion of the University's nanoscience and experimental physics facilities. The renovation – to which Pitt will contribute $12.8 million – encompasses four buildings and will provide the School of Arts and Sciences' Department of Physics and Astronomy with 13 new or significantly enhanced laboratories, including space for three new faculty members." Read more

Carnegie Mellon Lands Three Google Research Grants
"Three Carnegie Mellon University research projects will share $2 million from the inaugural Google Focused Research Awards. The projects include work in the areas of machine learning, energy efficiency in computing and privacy. The awards are unrestricted grants for two to three years." Read more

Neuro Kinetics' a "Company to watch" for Defense-Related Medical Device Breakthroughs
Defense Technology International, an influential publication serving the defense and military markets, says medical device manufacturer Neuro Kinetics, Inc. is a company "to watch" for its research into new methods of detecting traumatic brain injuries (TBI) and mild traumatic brain injuries (mTBI) in wounded combat soldiers returning from Afghanistan and Iraq. Read more

Innovation Oakland Takes the Next Digital Level, to be 4th such Area Around the Globe
"An exciting project is underway in Oakland to create a uniquely integrated community through state-of-the-art digital connectivity. If successful, the Innovation Oakland project will be the fourth global location where a community exists as a digital public realm … The goal is to weave together the latest technologies to provide a pedestrian way-finding information system, using both analog and digital formats, to assist the more than 100,000 people who live and work in Oakland (our region's second-largest job center next to Downtown)." Read more

Two Companies with Regional Ties Among Fortune's"Best Places to Work List"
"The Indiana Regional Medical Center in Indiana County ranked No. 60 on Fortune magazine's list of "100 Best Companies to Work For" in 2010, boasting a 2% turnover rate compared to the national rate of 8%. Also, FedEx Corp. was ranked No. 91." Read more

Solar Power Education at the Intersection of Art + Technology
"Artist David Edwards designed the Power Flower to fuel interest in wind and solar energy … The 14-foot-tall aluminum sunflower sculpture outside Edwards' studio in Shaler produces enough electricity with its solar panel-covered leaves and a petal-powered wind turbine to charge a cell phone or operate a laptop. The power is stored in batteries; part of it is used to power LED bulbs to light up the sculpture at night … The Power Flower blossomed from the Pittsburgh Technology Council's Art + Technology Initiative, which started in 2008 and partners artists with engineers to fuse creativity and science." Read more

Pittsburgh’s Foundation Radiology Raises $4M
"Pittsburgh-based Foundation Radiology Group raised a $4 million Series B round of funding … Louisville, Ky.-based Chrysalis Ventures led the round, accompanied by Health Evolution Partners and Foundation's management team." Read more

Green Job Training for 250 in Fayette, Westmoreland Counties
Private Industry Council of Westmoreland/Fayette Inc. is extending a green lifeline to workers in southwestern Pennsylvania. The non-profit will administer $2.7 million in job training for about 250 energy efficiency and renewable energy positions over the next two years." Read more

Mogul Mind Movie Studio Can Handle Any Production
"Mogul Mind Inc. hopes its recent tenant of ‘Unstoppable' proves an apt description for its plans to do more than provide soundstage space for movie and TV productions and commercials in the Strip District … With six soundstages and 330,000 square feet – more than enough to build full-scale locomotives for the Denzel Washington runaway train move – plus office space, Mogul Mind is making its mark as a place to shoot movies." Read more

Greenhouse Program Growing Successful Executives, Fueling Innovation Growth
This feature highlights the highly successful executives in residence program at the Pittsburgh Life Sciences Greenhouse. "Since its inception, the Greenhouse's Executive in Residence program has assisted nearly 300 companies that have created about 1,200 jobs, officials said. The executive's services are provided free of charge … The Greenhouse nurtures small companies by providing executive talent, but also invests in companies, with $15 million placed into 60 companies to help leverage about $500 million in additional capital." Read more

No. 2 Online Institution in the Nation: California University of Pennsylvania
"California University of Pennsylvania, [35 miles from Pittsburgh], has been ranked No. 2 on a new survey looking at the quality of online institutions of higher learning. The Top 25 online colleges study was conducted by Kirkland, Wash.-based SR Education Group, an educational resource provider. The study ranked the schools based on accreditation, tuition cost, number of students and faculty, student-to-faculty ratio, graduation rate and retention rate." Read more

EVENTS

February 10 and 17 – Your Business and Marcellus Shale: Voices of Experience (Webinar Series)
The Indiana County Center for Economic Operations hosts this webinar series about the hottest natural gas boom in the world, right here in our own backyard. Is your company positioned to compete?  From 8-9:30 a.m. at the Chestnut Ridge Golf Resort & Conference Center in Blairsville, PA. Register directly or call 800-626-2662 with questions.

PLUS: View the fact sheet about our region and the Marcellus Shale (PDF file)