Economy & Business

Economy
6:06 pm
Tue October 16, 2012

Panel: Pittsburgh Job Market, Atmosphere Attractive to Young Adults

Pittsburgh's diverse labor market and small-city atmosphere make it attractive to young people, according to a panel at the University of Pittsburgh on Tuesday, but the city should do more to attract young adults of diverse ethnicities, and local youngsters should vote more often.

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Economy
6:53 pm
Mon October 15, 2012

Occupy Pittsburgh Marks One Year Anniversary

It’s been a year since Occupy Pittsburgh first set up an encampment in a small downtown park. On Monday, the group showed that it’s still operating, despite the lack of a physical headquarters for protests of economic and social issues.

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Economy
6:32 pm
Mon October 15, 2012

1 in 3 Pennsylvanians Say They're Better Off Financially Than in 2008

The question Ronald Reagan famously used during his 1980 campaign for president, "Are you better off now than you were four years ago?" is still being asked by many, including Republican presidential nominee Mitt Romney.

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Economy
7:35 am
Mon October 15, 2012

Federal Grant To Increase Business Exports

Small companies in Pennsylvania are set to get some help in growing their exports.

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Economy
4:08 pm
Fri October 12, 2012

First Roughneck Fest Will Be Held This Sunday In Washington County

This Sunday, thousands of people of all ages and occupations are expected to gather at the Washington County Fairgrounds for the region's first Roughneck Fest celebrating Pennsylvania’s growing natural gas industry. Events including cook-offs, arm-wrestling, and a boxing match will help raise money for the PA Firefighter’s Athletic League.

While the festival was designed with the image of the Roughneck worker in mind, festival coordinator Pam Blaker said it will be a day for everyone to enjoy.

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Economy
8:31 pm
Thu October 11, 2012

New Loan Program To Spur Downtown Retail

Pittsburgh has space in historic downtown buildings, but not enough retail to fill it. A new loan program propelled by the city hopes to change that.

Mayor Luke Ravenstahl and the Pittsburgh History and Landmarks Foundation today announced the launch of a new loan initiative that hopes to spur more retail ventures and further the economic growth of the Golden Triangle.

Ravenstahl said every great American city needs a strong urban core.

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Economy
6:55 pm
Wed October 10, 2012

Finding Funding To Repair Crumbling Locks and Dams

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The Fifth Annual Sustainability Conference this Friday will address solutions to the region’s vital waterway infrastructure needs, with presentations from the Army Corps of Engineers, the Port of Pittsburgh Commission, and the new SWPA Water Innovation Consortium, among others.  

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Economy
10:23 pm
Tue October 9, 2012

Tom Corbett Receives High Marks In Fiscal Policy

The fiscally conservative Cato Institute today released its biennial Fiscal Policy Report Card on America’s Governors and Pennsylvania’s Tom Corbett received an “A."

According to the report, Corbett scored well because he has been a “frugal budgeter” who has reduced spending to a figure lower than when he entered office.

Chris Edwards, Director of Tax Policy Studies for Cato, said he was impressed by Corbett’s steep reduction of the Capital Stock and Franchise Tax.

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Economy
6:18 pm
Mon October 8, 2012

Interest Rate Swaps: Increased Risk, or Revenue?

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State lawmakers are considering changes to a Pennsylvania law aimed at curbing risky financing among municipalities and school districts.

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Economy
7:35 am
Mon October 1, 2012

Pittsburgh International At 20

20 years ago today the state-of-the-art Pittsburgh International Airport opened for business.   The late Allegheny County Commissioner Tom Foerster greeted passengers at 5:30, the morning of October 1st, 1992.  US Air Flight 620 was the first to land at the new airport. 

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Economy
7:26 pm
Fri September 28, 2012

Pittsburgh Region's Workforce Aging Fast

The Three Rivers Workforce Investment Board (TRWIB) has issued a report on the aging of the region’s labor pool warning of a future shortage of workers.  The report finds the region will be faced with a high number of retirements in the future and not enough qualified younger workers to fill critical jobs in key sectors like manufacturing, education, health care, and the trades.

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Economy
6:29 pm
Wed September 26, 2012

Job Growth Slows, But Up Overall in Recent Years

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Jobs grew by 1.1% in the Pittsburgh region over the last 12 months, but that figure is below the 1.3%  growth average of 15 benchmark cities.

Douglas Heuck, Director of Pittsburgh Today, says Pittsburgh is breaking its pattern of being at the bottom of the list.   Over the past four years, Pittsburgh is the only one of the 15 regions that reported growth in jobs.  The others all had a net loss over that period.

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Economy
10:29 pm
Tue September 25, 2012

Dozens Lobby City Council for 'Ban the Box' Legislation

Several dozen people gathered in Pittsburgh City Council Chambers Tuesday morning to demand that The Council pass a bill commonly known as "ban the box" legislation.

The bill would prohibit any criminal background inquiries on initial job applications for both public and private employers in the city, deferring those questions until the interview process. The measure was introduced last year by Council Finance Chair Ricky Burgess, but it is still awaiting a legal opinion from the city law department.

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Economy
7:35 am
Mon September 24, 2012

Big Surge in Exports From Pittsburgh

Exports from the Pittsburgh metro area jumped by 24.7% from 2010 to 2011. That's the word from the U.S. Department of Commerce which said the value of exports from the region rose by $3 billion last year to $15.2 billion, making Pittsburgh the 22nd largest metro area exporter in the nation.

Lyn Doverspike, director of the department's U.S. Commercial Service in Pittsburgh, said the increase in exports is partly due to an improving economy but more so it's cyclical.

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Economy
2:35 pm
Sat September 22, 2012

A Visit To A Shale Conference

The Marcellus Shale Coalition has just wrapped up its annual natural gas drilling conference.
   When energy companies get together, the major speeches make it into the news, and so do the protests outside.
  But what else goes on at these conventions?
 

Sure, there are the speeches from politicians and CEOs.  And there are technical panels with names like, take a deep breath: A Geochemical Context for Stray Gas Investigation in the Northern Appalachian Basin.  But the main action at this gathering of natural gas drillers takes place in the exhibit hall.

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Economy
6:28 pm
Fri September 21, 2012

August Unemployment Numbers Show An Upward Trend

Pennsylvania’s unemployment rate jumped to 8.1% in August, up from July’s 7.9 figure.

The 8.1% matches the national rate but Scott Meckley, Industry and Business Analyst for the Department of Labor and Industry, said  the commonwealth's jobless rate has been below the U.S. rate for  for 51 consecutive months.

Although to finally be trending up is attention grabbing, the Pennsylvania rate and National rate have always moved in concert with each other and have been roughly the same, according to Meckley.

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Economy
6:16 pm
Thu September 20, 2012

Environmental Group Warns of High Costs to Citizens from Natural Gas Development

On the same day Governor Tom Corbett praised the Marcellus Shale industry and called fracking opponents “unreasoning,” PennEnvironment Research and Policy Center released a study that outlines the costs of development to citizens including the costs associated with contaminated water, health care, and infrastructure.

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Economy
5:01 pm
Thu September 20, 2012

Corbett: PA Is "Reaping a Bounty" From Drilling

Governor  Tom Corbett today attacked anti-drilling activists at a Marcellus Shale industry conference in Philadelphia.  Corbett praised drillers for creating thousands of jobs and he called fracking opponents “unreasoning.”


"Our opponents agree that we can land a rover on Mars, but that can’t bring themselves to think that we can safely drill a mile into our own soil," said Corbett.  "After all the predictions of disaster and the fearful warnings of people with no understanding of the industry, Pennsylvania is reaping a bounty.
"

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Economy
7:24 pm
Wed September 19, 2012

Energy Jobs Present Opportunity and Challenge

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The Pittsburgh region will see a growth in energy-related jobs by 2020, according to a workforce analysis presented today by the Allegheny Conference on Community Development (ACCD) and the Energy Alliance of Greater Pittsburgh, but training workers to fill them will be a challenge.  

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Economy
3:15 pm
Wed September 19, 2012

$9 Million Renovation of Drake Well Museum Completed

The Marcellus Shale drilling boom is bringing a lot of changes to Pennsylvania. But the drilling itself isn't one of them: the state hosted the world's very first oil well in 1859 in Titusville.

A $9 million renovation of the Drake Well Museum was recently completed.  Some of the museum's more popular exhibits profile the extremes that drillers went to in order to get the oil out of the ground.

StateImpact Pennsylvania's Scott Detrow took a trip to the refurbished museum which tells the story of the first oil rush.

Economy
7:35 am
Mon September 17, 2012

Gaming Report On Diversity, Donations And Jobs

The Pennsylvania Gaming Control Board says diversity hiring is rising at the 13 casinos across the state.

The board's annual Diversity Report indicates a year-to-year progression in diversity hiring.  Director of Diversity Mozelle Daniels said casinos have done an excellent job of minority hiring.

“This year we’re at 29.7 percent, or I should say 30 percent, last year we were at 25.4, and [in 2010] we were at 17 percent,” Daniels said.

While goals, or quotas, are illegal to set Daniels said, the casinos wouldn’t need them.

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Economy
4:11 pm
Tue September 4, 2012

Job Growth for Men Outpacing that for Women in Pennsylvania

It’s no secret that women get paid less, on average, than men. However, a new study by the Institute for Women’s Policy Research finds women are also recovering more slowly from recession job losses than men. The Women and Girls Foundation in Pittsburgh commissioned the study, which found that by end of 2011 women in Pennsylvania had regained 12% of total recession job losses while men had gained 62% of their job losses.

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Economy
3:44 pm
Tue September 4, 2012

CONSOL Energy Responds To Decrease In Steel Demand By Idling Mines

CONSOL Energy Inc. announced starting today it has temporarily shut down the Buchanan Mine in southwestern Virginia.  The company is also considering a partial or complete idling of the Amonate Mining Complex in southern West Virginia.  According to a statement from CONSOL, a decision is expected soon.

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Economy
9:35 am
Tue September 4, 2012

A Trip To The Northern Province

Poland has the same kind of shale gas deposits found throughout southwestern Pennsylvania. Poland’s government hopes to tap into their deposits to fulfill the country’s future energy needs but, like in the United States, it comes with a great deal of controversy. 

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Economy
7:35 am
Tue September 4, 2012

Economy Improving While Wages Shrink

Over the last decade, Pennsylvania’s economy grew. However, the average PA family is now earning less than they would be at the turn of the 21st century.

This new information comes from the left-leaning Keystone Research Center’s annual State of Working Pennsylvania report.  According to the report, the state's economic growth could have supported a rise in living standards for all Pennsylvania workers, but a disproportionate amount went to the top one percent of earners.

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