Eds and Meds Spur Growth in Pittsburgh
ByOnce a predominantly blue-collar city, Pittsburgh today relies on a diversified innovation economy and a highly educated workforce. University-based research is focused on life sciences, information technology and robotics, which are major economic drivers for both the region and nation.
Despite a slowly shrinking population, the city’s multifamily market remains steady, bolstered by increased hiring in recession-resistant sectors—such as education and health services—which has had a ripple effect on the region’s economy, driving demand for apartments and office space. Most of the growth can be attributed to the two largest health-care systems, UPMC and Allegheny Health Network, as well as education institutions such as the University of Pittsburgh, Carnegie Mellon University, Duquesne University and Robert Morris University. Increased tourism activity over the past year has also led to significant employment gains in the leisure and hospitality industry, offsetting the loss of manufacturing and mining jobs…
