A big part of the Pittsburgh comeback over the past 30 years has been investing in human capital through our region’s 36 colleges and universities to provide innovation and skilled workers to improve our existing industries and to support entrepreneurs to build new ones. The infrastructure that’s been put into place is getting national recognition.
Kiplinger ranks Pittsburgh among “10 Great Cities for Starting a Business,” based on criteria that include high concentrations of small businesses, low cost of living (specifically for self-employed people), an educated workforce, availability of startup investment dollars and low business costs. (They tossed in a couple of high-cost areas like San Francisco because they have large pools of skilled workers that might make up for the expense.)
About Pittsburgh, Kiplinger reports, “The city built on steel and coal might prove to be a diamond in the rough for entrepreneurs. Pittsburgh is looking to become the “new center of innovation in American energy” and putting up the cash to get there. On top of nearly $143 million the area raised in startup capital during the first nine months of 2012, the area’s research and development funding through Carnegie Mellon, the University of Pittsburgh and other institutions amounts to $3 billion annually.
“State-sponsored economic development group Innovation Works provides funding, business guidance and other resources to promising projects. With the Allegheny Conference of Community Development, it formed the Energy Alliance of Greater Pittsburgh to connect local energy entrepreneurs, researchers and investors. It also created tech startup accelerator AlphaLab, which runs a 20-week program twice a year that provides select companies with funding, office space, mentorships and other assistance to get up and running.”
It’s taken 30 years to put all that infrastructure in place: to nurture individuals, drive innovation and create our diverse, knowledge-intensive economy. And it’s great to be named in the same company as Dallas, Kansas City, Atlanta, Denver, Seattle, Indianapolis, Orlando, Nashville and San Francisco. What’s easy to overlook is that it’s the result of decades of hard work and investment in the most important resource our region has – our people.