Tuesday, July 14, 2009

Pittsburgh Economic News

As Mike Madison has said, "it's steel good in Pittsburgh." Bombadier Transportation lands a big contract for the new Phoenix airport:

The $255 million US deal involves supplying and maintaining 18 driverless Innovia vehicles for the 3.5 kilometre transit system at Sky Harbor International Airport in Phoenix, Ariz.

Bombardier Transportation’s plant in Pittsburgh will design and build the vehicles.

I have one other item to share. Chris Briem talks about the declining vacancy rate in downtown Pittsburgh as a positive indicator of economic vitality. Despite the serious demographic liabilities and anemic in-migration, Pittsburgh is a relative picture of health. Downtown growth certainly defies expectations:

Direct Energy Business has confirmed a final agreement to move to Liberty Center.

The company, which first came to Pittsburgh last June when it acquired Strategic Energy LLC for $300 million, announced that it has signed a five-year lease for 52,000 square feet at Liberty Center in Downtown Pittsburgh, which it will make its North American headquarters in November.

The company said the move was needed “ to accommodate current operational requirements” and position the company for future expansion.

Also, check out all the wonderful publicity Netroots Nation is providing Pittsburgh. Watching the re-branding as it happens is a sight to behold. I'm confident that more robust in-migration is in the cards.

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