Pittsburgh's economy is hot!!!!! (Erie, Carnegie: insurance, loans, house)

[Katiana]

Originally Posted by Blackbeauty212

I love how people from the W Coast and other parts of the US, know more about what Pittsburgh is going thru more then the people that actually live in Pittsburgh...

Can you tell me when i'm going to hit the lottery in PA and NY as well???

BTW BofNY/Mellon is actually relocating jobs from NY to Pittsburgh....They are laying off here in Manhattan but Pittsburgh is taking on more work.

Source? Link? I have an enquiring mind.

[dugdogmaster]

I think the last thread I started posting good economic news for this region went to 8 pages of negativity. I wonder if this one will beat it?

[dugdogmaster]

Originally Posted by Katiana

Source? Link? I have an enquiring mind.

I read an article late last month saying BofNY Mellon was cutting around 6,000 jobs world wide, however adding some 200 jobs in Pittsburgh. I'll see if I can dig it up.

[Blackbeauty212]

Need to look no further - here it is.

BNY Mellon bullish on region - Pittsburgh Tribune-Review

By Ron DaParma
TRIBUNE-REVIEW
Sunday, July 27, 2008

As Bank of New York Mellon's CEO Robert Kelley said earlier this month, the banking company is making significant strides in fulfilling its pledge to create 1,000 to 2,000 jobs in the region by 2012.

That could have a positive impact on the Downtown commercial office market.

The New York-based bank has increased its local employee count from 6,068 to 6,784 since Downtown-based Mellon Financial Corp. announced its intention to merge with the Bank of New York 18 months ago.

And Kelley sees ample reason why the expansion should continue, noting the company wants to grow in areas where it has "critical mass, better quality services and lower costs."
Moderator cut: shortened, copyright protection

[RockLobster]

I would not hold my breath for any great banking job growth here or anywhere for that matter. Plans announced months ago and press releases that are dated are worth nothing now. This is a rapidly changing market and talk of job relocations shouldn't be seen as promises. You'll see more cut backs locally then gains. Promise ya...

[dugdogmaster]

Originally Posted by RockLobster

I would not hold my breath for any great banking job growth here or anywhere for that matter. Plans announced months ago and press releases that are dated are worth nothing now. This is a rapidly changing market and talk of job relocations shouldn't be seen as promises. You'll see more cut backs locally then gains. Promise ya...

That's a great possibility, but the article I read was dated just last week.

[Katiana]

It looks like they have added 700 jobs (approx) and may add up to 2000 (total? not clear).

[Traveler87]

Heres the thing:

Cleveland and Pittsburgh are two of the most underrated cities in the country. They are some of the most livable cities in the country. They have been voted just the last few years by many highly ranked magazines... so there are good sources backing this up.

Pittsburgh is surrounded by beautiful green hills and has scenery Phoenix, Las Vegas, Reno and Tucson can only dream of. It has one of the greatest skylines in the country. It is dense and powerful. Pittsburgh has managed to diversify its economy like not many other cities can say they have done. Traffic is not bad, the public transport is not as good as Cleveland's, but it is getting somewhere. The riverfront development, the new Penguin's Arena, the Strip District, Pittsburgh has something to be proud of.

Cleveland is the same way. We are surrounded by amazing scenery, with a national park only minutes from downtown, one of the best metro park systems in the country, a great public transport, with many new lines being added. We are home to Playhouse Square which is the second largest theatre district in the country after Broadway.

We as well as Pittsburgh diversified our economy when the steel industry went downhill. Like I stated before, we turned towards healthcare, banking, high tech, and green energy. A lot of this is recession proof.

I hate to say it, but Cleveland and Pittsburgh have a lot in common. Our demographics are similar, even though Cleveland has a somewhat higher hispanic population and african american population. Our economies here are chaning, and changing for the better. I have many friends who live in Pittsburgh and who are from Pittsburgh. We live in cities we should be proud of. And honestly, I don't give a rat's a$$ what people from the West or South think about our cities. We have culture and history that they could only dream for.

Pittsburgh and Cleveland are going places. I look at Detroit, Buffalo, St. Louis, Miami, Phoenix, San Diego, they have all watched large projects dissapear. Their economies have suffered, and Detroit more than anyone has not diversified.

As an urban planner I can tell you this, there are many cities out there that were so called "booming" only a year ago, and now are looking at budget short-falls.

Don't bash Pittsburgh and Cleveland unless you have lived here and experienced the amazing quality of life these cities have to offer.

LOL sorry for the rant, but I find nothing attractive in places like Phoenix, Houston or Las Vegas.

[lifepgh2op]

Traveler--very well said! I'm a big Cleveland/Pittsburgh (Northeast Ohio/Western PA) supporter. I grew up around Pittsburgh, but lived in Cleveland for 6 years and you are right, they are very similar. Anyway, you covered it all pretty well in your post. I just wanted to second you because it's not everyday you find a supporter of both cities (obviously due to Steelers/Browns rivalry haha)

[Traveler87]

Originally Posted by lifepgh2op

Traveler--very well said! I'm a big Cleveland/Pittsburgh (Northeast Ohio/Western PA) supporter. I grew up around Pittsburgh, but lived in Cleveland for 6 years and you are right, they are very similar. Anyway, you covered it all pretty well in your post. I just wanted to second you because it's not everyday you find a supporter of both cities (obviously due to Steelers/Browns rivalry haha)

LOL we will not get into that. All I can say is bye bye Romeo Crennel. I heard Bill Cowher bought a house here in Cleveland... good news I hope. BTW, Cavs are on a role this year, 3rd best record in the NBA, and we just crushed the Knicks here tonight at Quicken Loans Arena.

Thank you very much, rep points for you. I think in the future NE Ohio and Western PA will began to work together.