Pittsburgh ranks near top of Economic Index (Business Journals) (Washington: homes, employment)

[Evergrey]

Metro Pittsburgh ranks 4th best in the Business Journals' Economic Index.

Oklahoma City leads heartland's sweep of Economic Index - The Business Journals

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The On Numbers Economic Index is generated by an 18-part formula that assesses private-sector job growth, unemployment, earnings, housing-price appreciation, and construction and retail activity.

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4. Pittsburgh: The value of a typical home in the Pittsburgh area has risen 5.5 percent in half a decade. Only Houston (5.8 percent) has done better.

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[globalburgh]

Damn high taxes ruin everything. How is Pittsburgh supposed to grow?

[BrianTH]

I found this paragraph intriguing:

The top eight metros, in fact, are far from the Atlantic and Pacific coasts. All eight lie within a triangle that has Houston, Pittsburgh and Denver as its endpoints.

I think this could be taken as a sign of an emerging effort to define the "winning" meta-region of this economic era. And as much fun as it is to discuss Pittsburgh as an isolated success story, that story will probably have more credibility nationally and internationally if it can be wrapped into some meta-story.

[bradjl2009]

But the middle aged and elderly people who haven't stepped foot out of Allegheny County since the last century all tell me I need to move to Texas or North Carolina if I want any chance of living in a place with a good economy.

[Craziaskowboi]

Originally Posted by bradjl2009

But the middle aged and elderly people who haven't stepped foot out of Allegheny County since the last century all tell me I need to move to Texas or North Carolina if I want any chance of living in a place with a good economy.

Mesofacts in motion.

[escilade18]

I am glad to see this good news. I will definitely be happy if I can find meaningful employment in the region once I graduate college. Also, I don't remember where but I saw a chart showing average wages adjusted for COL, Pittsburgh is only slightly lower than: Washington DC, San Francisco, Denver, Boston, Baltimore (and I know there is one more that I am forgetting,)
but when compared to cities such as NYC, Los Angeles, Atlanta Phoenix, Pittsburgh incomes are significantly higher (Los Angeles was actually a good bit lower which surprised me.)

[Blackbeauty212]

Great News.....Now what will it take to get somethings executed a lot faster around here...

[MathmanMathman]

Originally Posted by BrianTH

I think this could be taken as a sign of an emerging effort to define the "winning" meta-region of this economic era. And as much fun as it is to discuss Pittsburgh as an isolated success story, that story will probably have more credibility nationally and internationally if it can be wrapped into some meta-story.

But it's doing well in bad times. When the economy gets going again, will it revert mostly to the coasts?

[ferraris]

4. Pittsburgh: The value of a typical home in the Pittsburgh area has risen 5.5 percent in half a decade. Only Houston (5.8 percent) has done better.

I take issue with the notion of "the higher, the better" for home values. Increasing home values can be a symptom of a good economy; but I view it as something that is best kept in check. It's certainly not wildly out of control in Pittsburgh as a whole, but I'm worried it could get that way in a decade or two. I'd hate to see entry level homes starting at $200K. Granted, if that happens, the economy could be said to be "strong" in raw numbers, but Pittsburgh would definitely take a huge hit to it's reputation as a livable city.

Home values seem like a cursory economic indicator to me. I'm much more interested in employment rates and wages as compared to the cost of living.

[BrianTH]

Originally Posted by MathmanMathman

But it's doing well in bad times. When the economy gets going again, will it revert mostly to the coasts?

Possibly, but here's the thing: the Pittsburgh Metro really started taking off before the recession, at least as early as 2005. The recession didn't hurt us as much as many places, so that is part of why it has leaped to the top of so many economic performance charts, but all that was building on a pre-established positive trend.

And, incidentally, there is an argument to be made that as the recession recedes elsewhere, things will actually accelerate around here (the main two points would be that a receding recession will free up more development capital, and also increase labor mobility, both to the benefit of places like Pittsburgh with a now well-established growth trend).

And I do think there is probably a story to be told like that which includes a lot more of the interior of the country, although I wouldn't commit specifically to that triangle.