MARCH 2010

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Pittsburgh Hosts Seven 2010 Regional Benchmarking Visits

Global G-20 Publicity Sparks continued Interest in our Economic, Environment and Quality of Life Transformation

The Pittsburgh Summit 2009 is now a part of history, but it continues to ignite interest in our region. No fewer than seven Chambers of Commerce from across the United States have scheduled benchmarking visits to Pittsburgh this year, a number of them choosing to visit because of the global attention the region received as a result of the summit.

On top of a second recent visit from Korean delegations as they gather best practices for hosting the G-20 in Seoul, regional chambers from Cincinnati (Ohio) to Nashville (Tenn.) will examine the Pittsburgh region's transformation to a diverse economy driven by innovation, with an emphasis on education, transportation, riverfront development, brownfield reclamation, entrepreneurship, and the role of arts and culture in economic development. Each of the chambers will bring dozens of public and private sector leaders from their communities.  Read more (PDF)

	The PRA is the One-Stop Solution for Expanding or Relocating Your Business Through the personalized economic development services of the PRA – ranked multiple times as a "Top Economic Development Group" by Site Selection – discover for yourself why the Pittsburgh region has been hailed "a model for a 21st century economy." Free of charge, we offer a team of professionals who tailor their project management services to meet your needs while leveraging a vast network partners from across a 10-county region. To discover our range of economic development services, from site selection assistance and global business expertise to customized market research & analysis and peer executive meetings, visit www.pittsburghregion.org

More Economic Development News

CSX Gets $98M Stimulus Rail Grant
"The National Gateway corridor, a CNX Corp. freight railroad project that calls for construction of a new Pittsburgh terminal, [recently] nabbed $98 million in stimulus funding." Read more

Global Growth: L.B. Foster to Buy Portec for $112M
"L.B. Foster Co.'s $112 million deal to acquire Portec Rail Products Inc. will enable both century-old Pittsburgh-area companies to serve global markets … Founded in 1906, Portec provides a range of rail products, such as spikes and anchors. L.B. Foster was founded in 1902 and serves the rail industry, as well as construction, energy, utility and recreation markets." Read More

Forbes Names Pittsburgh "America’s Best Housing Market"
"The best place to buy [a home] 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." Read more

Development Plans for Downtown High-Rise
Burns & Scalo Real Estate Services, Inc. plans to develop Pittsburgh’s next high-rise tower on a Smithfield Street riverfront lot. A newly formed entity lead by James Scalo of Burns & Scalo Real Estate Services, Inc. recently acquired the 132,500 SF One Smithfield Street building and adjacent parking lot for approximately $11.4 million. Read more (PDF)

Pittsburgh Region Positioned as National Energy Leader
Allegheny Conference CEO Dennis Yablonsky explains the role that the Pittsburgh region can play in creating a 21st century energy economy, by leveraging its critical mass of existing industry, diversity of energy resources and innovation know-how. Read more

Local Wind Turbine Project Receives $10M Federal Grant
"A planned 23-wind turbine project for Fayette County to generate electricity that was put on hold late last year is back on track thanks to a $10 million federal economic stimulus grant. During a visit to the Gamesa Wind USA plant in Ebensburg, Gov. Edward Rendell announced $22.8 million in grants through the stimulus program that will not only put people to work at Gamesa, but also will create another 257 jobs at three large-scale wind farms." Read more

Rice Energy, Alpha Natural Resources Form Joint Venture
"Alpha Natural Resources Inc., Abingdon, Va.-based coal producer, has formed a 50-50 joint venture with Rice Energy LP, Pittsburgh-based exploration and production company, to develop Marcellus Shale natural gas resources. Alpha controls nearly 20,000 acres near Pittsburgh." Read more

Smart Grid Leader BPL Global Recognized as Top Green Innovator by AlwaysOn
BPL Global®, Ltd. (BPLG), a smart grid technology company dedicated to leading the transformation of energy efficiency and reliability, recently was recognized by AlwaysOn as the Overall Winner of its 2010 GoingGreen East Top 50 Private Companies. "BPL Global is helping to bridge the gap between utilities and the vision of the future smart grid …" Read more

Philips Strengths Sleep Diagnostic Portfolio, Acquires Siesta Group of Austria
Royal Philips Electronics announced today that it has acquired the Somnolyzer 24 x 7 automated scoring solutions business of the Siesta Group in Vienna. This FDA-cleared solution will help improve the productivity of sleep centers and is based on the most advanced and clinically validated automated-scoring technology on the market. The Siesta Group is a research and clinical software company specializing in polysomnography scoring solutions for sleep centers. The acquired business will become part of the sleep diagnostics business within Philips Home Healthcare Solutions – which is headquartered in Pittsburgh. Read more

Pittsburgh Region's Top Brokers and Deals of 2009 Honored
The Western Pennsylvania Chapter Society of Industrial and Office Realtors (SIOR) recently held its Annual SIOR Awards Luncheon honoring the top brokers and deals from across the region for 2009. The Pittsburgh region's commercial real estate market continues to evade the national trend with vacancy rates below the national average. The region has received recognition for the strength of the market including recently being ranked by Moody's as having the number one commercial real estate market in the United States. Read more on the PRA Home page

Health Tech Innovator, Invivodata, Poised for Growth and Expansion
"Imagine the mounds of paper pushed in association with a clinical trial, then think of Invivodata. The Pittsburgh company's founders were the first in the industry to develop a handheld patient diary to record electronic Patient Reported Outcomes (ePRO) in 1987. Today the company is celebrating 10 years in business as an industry leader and recently announced a partnership with Quintiles Transnational Corp., one of the largest clinical research service firms. The firm has made Invivodata's technology a centerpiece of its clinical services." Read more

Manufacturing Innovator, AardvarQ, gets $100K From Innovation Works
"Pittsburgh-based startup AardvarQ is a recent addition to the Innovation Works portfolio after receiving a $100,000 investment from the group that works to fund area technology startups. This is on top of a $25,000 investment from Idea Foundry in the fall … The nine-month-old company has developed software and a framework that allows manufacturers of industrial mobile devices to communicate with those devices once they are deployed by the end-user." Read more

Huntington Bancshares Announces $360M in Small Business Loans for Pittsburgh
"Huntington Bancshares of Columbus, Ohio announced $360 million in small business loans for Pittsburgh companies over the next three years as part of a major commitment to shower $4 billion in small business loans across the Midwest. At least 2,500 businesses in Pittsburgh may expect assistance, possibly more, a 45% increase from 2009, says Maureen Brown, spokesperson for Huntington." Read more

Part of State’s $20M Recycling Grants Flow to Region
"Gov. Ed Rendell on Tuesday announced $20 million in grants for local recycling and compost programs in 40 Pennsylvania counties." A substantial amount was granted to Allegheny County projects." Read more

Innovation: Lipella Pharmaceuticals Raising Money for Overactive Bladder Treatment
"Pittsburgh startup Lipella Pharmaceuticals is looking to raise $3 to $5 million for a novel bladder therapy that may provide relief to the 17 million Americans who suffer from an overactive bladder." The company also plans to hire. Read more

Six New AlphaLab Start-Ups Begin Incubation to Grow Groundbreaking Technologies
"Can software solve the world's problems? Innovation Work's latest class of Alpha Lab startups gets the ball rolling with new ideas for everything from do-it-yourself interior design apps to helping amateur photographers take better pictures and consumers find a shoe that fits online." Read more

Carnegie Mellon University Sets New Application Record
Even in a tough economic climate, top-tier research institution Carnegie Mellon University set a record for the number of applications submitted for the 2010-2011 school year. "The university received 26,431 applications vying for 1,400 spots. That’s a 16% increase over last year’s applicant pool of 22,780, according to the university." Read more

Pittsburgh-Based Innovator Deeplocal Gets "Top Tech" Transit Recognition
"Industry trade publication Mass Transit named Pittsburgh-based company Deeplocal's RouteShout Alert application as one of 2010's 'Top Tech Innovations' in the transit sector. RouteShout has iPhone and Android apps, and can be used with a transit agency's AVL, or Automatic Vehicle Location technology, which is similar to GPS. Deeplocal CEO Nathan Martin said RouteShout also can be used as an advertising vehicle for transit agencies." Read more

EVENTS

March 11 – Surviving the Squeeze: Trends from the Biotechnology and Medical Technology Industries
How has biotech and medtech held up during the global financial crisis? Ernst & Young will share the key findings from its Pulse of the industry medical technology report 2009, as well as a sneak preview of the soon-to-be-released Beyond Borders global biotechnology report 2010. We will then moderate a distinguished panel of industry executives and investors, who will share their insights and strategies on how boards, management and financiers can bring creativity, focus and discipline to their operations as their companies navigate through these turbulent waters. Presented by the Pittsburgh Technology Council at the Rivers Club (downtown) from 7-10 a.m. Cost: $45 members/ $175 non-members.

March 18 – NAIOP Pittsburgh’s 17th Annual Banquet – "Feel the Energy"
Don’t miss the year’s best networking event in the commercial real estate industry! At the David L. Lawrence Convention Center, with 5:15 p.m. reception (sponsored by the PRA); 6:30 p.m. dinner and awards presentation (sponsored by Continental Building Systems); and 9 p.m. networking after party (sponsored by Buchanan Ingersoll & Rooney PC). Member cost: $125 individual/$1000 table. Non-member cost: $150 individual/ $1,250 table. Visit the web site above or call 412.928.8303 to register.

April 10 – Indiana University of Pennsylvania (IUP) 2010 Legacy Gala
The Master of ceremonies for this annual gala honoring preeminent IUP alumni is Terry L. Dunlap, who built a successful business career as an executive of a global leader in the specialty metals industry. The program features the presentation of the Presidential Legacy Award for Civic Service to Glenn Cannon, senior vice president for Hillard Heintze and a 1971 graduate of IUP, and the Presidential Legacy Award for Alumni Distinction to Barbara Russell, actor-educator, a 1954 graduate of IUP. At the Carnegie Museum Music Hall Foyer. Cost: $175.

May 8 – Tri-County Oil & Gas Expo (of Fayette, Greene and Washington Counties)
With an economic impact of more than $7 billion annually in Pennsylvania, the oil and gas industry (including the Marcellus Shale formation) plays a vital role in our local economy. Developments in the gas industry now offer a wealth of opportunity to our local businesses. The business community of Washington, Greene and Fayette Counties is invited to meet the major players transforming the industry. Sponsored by Community Bank, the Greene County Commissioners, and the Keystone Innovation Zone. From 10 a.m. - 3 p.m., Washington County Fairgrounds, Washington, PA. Exhibition opportunities also available. FREE admission.

June 10 – Entrepreneur’s Growth Conference
Duquesne University Small Business Development Center will host its 12th annual conference with this year’s keynote speakers Roger Byford, CEO of Vocollect, Inc., and Ed Stack, CEO of Dick’s Sporting Goods Inc. The event draws some 500 attendees annually who want to:

• Reenergize their business with new resources, new ideas & new contacts
• Experience unparalleled, nonstop networking with leading experts, investors, peers & future customers
• Choose from over 15 expert-led workshops on the hottest topics in business today
• Attend a Business Building Tradeshow featuring 50 exhibits, live demonstrations and prizes
• Receive cutting-edge strategies in marketing, sales, raising money, management, & growth 

A variety of sponsorship opportunities are available. Please contact Christine Hughes at 412.396.1631 for information.