"First Overall," Pittsburgh is Ranked as a Top Americas City of the Future
America's "Most Livable" City Now Recognized as a Top Destination for Global Business Investment
(PITTSBURGH – April 11, 2011) – Pittsburgh is a leading location of the future for international investment, economic development and business expansion, according to fDi, the magazine focused on the business of globalization and published by the London-based Financial Times.
Pittsburgh has been ranked first overall in the large cities category among the fDi 2011/2012 Americas Cities of the Future. Pittsburgh also was recognized as third for foreign direct investment (FDI) strategy in that category, and 10th for both economic potential and human resources.
"Ever since we hosted the Pittsburgh (G-20) Summit in 2009, the global spotlight has been on our region. The fDi recognition underscores why 272 domestic and international companies expanded in or relocated to our region last year. The City and the region have the assets that global companies want in a location for U.S. operations," said City of Pittsburgh Mayor Luke Ravenstahl, who shared the region's transformation story with the 40-plus leaders of top global corporations at the International Business Leaders Advisory Council (IBLAC) in Shanghai in October 2010.
"This ranking reinforces the resilience of the Pittsburgh region, as well as Allegheny County's strength and competitiveness. The 10-county region weathered the worst of the recession and is now rebounding. The evidence is found in expansions of existing businesses and new investments, which create jobs," said Allegheny County Executive Dan Onorato.
"In 2010, there was a sizeable increase in international business investment activity across the region, including the attraction of seven new businesses, 17 expansions of existing businesses and two relocations. These projects are creating 2,088 new jobs, retaining 633 jobs and represent $185 million in capital investment," said Mr. Onorato.
fDi Intelligence selected its 2011/2012 Americas Cities of the Future through a rigorous market research process. First, the 405 entries from the United States, Canada, Mexico and Latin America were placed in size categories by population. Entries were then compared on 80 criteria in seven main categories: economic potential, cost effectiveness, human resources (which include available talent pool, education of the workforce and number of universities in the area, quality of life, infrastructure, business friendliness and foreign direct investment strategy.) Ultimately, Top 10 lists were created for each of the main categories for major, large, small and micro cities. There is also the "overall" Top 10 list for each city size category, on which Pittsburgh ranked first among large cities.
"Four years in a row the Pittsburgh region has been recognized as the most livable place in the United States by a national or international publication. Now, we're being recognized as one of the best places in America for global investment," said Dewitt Peart, president of the Pittsburgh Regional Alliance, the marketing affiliate of the Allegheny Conference on Community Development.
"The rigorous process used by fDi to create the Cities of the Future rankings is similar to the process used by site location experts when choosing the best business site location for their clients' corporate investment projects. Data and numbers are important. But what's equally important and unique is Pittsburgh's spirit of collaboration. It's how we do business, and it makes the difference.
"Pittsburgh's public and private sector leaders, alongside those from academia and the non-profit community, came together 30 years ago to engineer a comeback from economic collapse. Today, across the region's 10 counties, partners are still collaborating to create a climate that attracts new investment into the region and supports the growth of existing businesses. This is our 'Pittsburgh Model,' and it's keeping the region top of list," said Mr. Peart.
The Pittsburgh Regional Alliance, an affiliate of the Allegheny Conference on Community Development, markets the benefits of conducting business in southwestern Pennsylvania to companies all over the world that are growing, relocating or expanding. For more information, visit www.pittsburghregion.org.
The Allegheny Conference on Community Development and Affiliates – the Greater Pittsburgh Chamber of Commerce, the Pennsylvania Economy League of Southwestern Pennsylvania and the Pittsburgh Regional Alliance – work in collaboration with public and private sector partners to stimulate economic growth and improve the quality of life in southwestern Pennsylvania. For more information, visit www.alleghenyconference.org.
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