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Pittsburgh Real Estate Values & Businesses
Effects of Pittsburgh’s Businesses and Emerging Initiatives on real estate values
The city of Pittsburgh has been making good strides while growing out of their industrial era. You can watch Pittsburgh real estate trends change as the city puts money into things like its businesses and even robotics. Robotics has been a good niche for Pittsburgh real estate as it attracts younger people to the area for robotics schools and jobs. The lower cost of living and improved healthcare services have also helped bring and keep people in Pittsburgh.
Business Headquarters
Pittsburgh economical trends have been consistent with other cities in the United States that have spent their infancy as industrial based communities. Pittsburgh has done a fairly decent job of transitioning its economic base to services, tourism, medicine, and technology.
The largest employer in the city is the University of Pittsburgh Medical Center, followed closely by the University of Pittsburgh. Fortune 500 companies with headquarters in Pittsburgh include: H.J. Heinz Company, PNC Financial, PPG Industries, WESCO International and U.S. Steel. Other local corporations include: Allegheny Energy, Allegheny Technologies, American Eagle Outfitters, Consol Energy, Dick’s Sporting Goods, Kennametal, and Wheeling-Pittsburgh Steel.
Today, major employers in the Pittsburgh area: the North American headquarters for Bayer, GlaxoSmithKline and Lanxess. Northeast U.S. regional headquarters for Nova Chemicals, FedEx, Ariba, Rand, US Airways and National City. Guru.com, 84 Lumber, Giant Eagle, Highmark, Rue 21, and GENCO are major non-public companies with headquarters in the region. Other major companies headquartered in Pittsburgh include Mylan Laboratories, General Nutrition Center (GNC), and CNX Gas (CXG), a subsidiary of Consol Energy.
Emerging Initiatives
One area contributing to the renewal of the city is its emerging emphasis in the area of robotics. In joint cooperation with colleges and universities like Carnegie Mellon University, many 20 and 30 year olds are starting or continuing their careers in technology companies in and around Pittsburgh. This trend is being fueled by low-cost living, reasonable real estate, and excellence in health care services. In addition to robotics, other fields include tourism, nuclear engineering, health care, biomedical technology, finance, and other service oriented industries. Education is also a major employer, from primary through magnet schools, specialized professional institutes and highly-ranked universities. In 2006, Expansion Magazine ranked Pittsburgh among the top 10 metropolitan areas in the nation for climates favorable to business expansion.
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