Economy of Pittsburgh: Difference between revisions
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====Giant Eagle, Inc.==== |
====Giant Eagle, Inc.==== |
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{{Main|Giant Eagle}} |
{{Main|Giant Eagle}} |
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Giant Eagle Inc. is one of the |
Giant Eagle Inc., founded in 1931, is now one of the country's largest private [[corporations]], food [[retailers]], and food [[distributors]]. It is ranked 32 on [[Forbes magazine]]'s largest corporations list and makes approximately $7.1 billion in annual sales. Giant Eagle, Inc. has 158 corporate and 65 independently owned and operated supermarkets in addition to more than 130 fuel and [[convenience stores]] throughout western [[Pennsylvania]], [[Ohio]], north central [[West Virginia]] and [[Maryland]]. Giant Eagle Inc. is the number one [[supermarket]] retailer in the region. <ref> Giant Eagle, "Corporate Overview" [http://www.gianteagle.com/Article.aspx?cntid=177971] 2009</ref> Giant Eagle, Inc. currently employs over 30,000 community members.<ref> "Top 50: Biggest local private companies play high-profile role in region", April 09, 2002 [http://www.post-gazette.com/businessnews/20020408topprivatebiz7P7.asp]</ref> |
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====West Penn Allegheny Health System==== |
====West Penn Allegheny Health System==== |
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{{Main|West Penn Allegheny Health System}} |
{{Main|West Penn Allegheny Health System}} |
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The West Penn Allegheny Health System |
The West Penn Allegheny Health System serves the greater Pittsburgh area, with six [[hospitals]] including [[Allegheny General Hospital]], Alle-Kiski Medical Center, and [[Canonsburg General Hospital]]. Its specialty services include [[cancer treatment]], [[emergency medicine]], and [[orthopedics]]. The [[health care system]], which operates with nearly 2,000 beds, admits over 78,000 [[patients]] and handles over 200,000 [[emergency]] visits each year. The system also helps to deliver annually more than 4,000 [[newborns]].<ref>[http://www.hoovers.com/west-penn-allegheny-health-system/--ID__112159--/free-co-profile.xhtml Hoovers. "West Penn Allegheny Health System Company Description"]</ref> The West Penn Allegheny Health system employs about 13,000 people.<ref>Business Times. "West Penn Allegheny Health System lays off employees" July 9, 2009[http://pittsburgh.bizjournals.com/pittsburgh/stories/2009/07/06/daily38.html]</ref> |
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====University of Pittsburgh==== |
====University of Pittsburgh==== |
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{{Main|University of Pittsburgh}} |
{{Main|University of Pittsburgh}} |
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{{See also|List of colleges and universities in Pittsburgh}} |
{{See also|List of colleges and universities in Pittsburgh}} |
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The University of Pittsburgh |
The University of Pittsburgh, a state university, has over 33,000 undergraduate students between its four regional campuses. Its [[flagship]] [[campus]] operates in the [[Oakland (Pittsburgh)|Oakland]] neighborhood of [[Pittsburgh]] where about 27,000 graduate and undergraduate students attend. The University of Pittsburgh has nearly 20 schools and colleges, including [[arts]] and [[sciences]], [[business]], [[aw]], [[medicine]], and [[engineering]]. The university is also connected to the [[UPMC]] Health System, which operates about 20 hospitals and an [[insurance company]] manages physicians' offices, and offers long-term and in-home care and also has its headquarters in Oakland. Pitt is one of the oldest universities in the nation. <ref>[http://www.hoovers.com/university-of-pittsburgh/--ID__40499--/free-co-profile.xhtml Hoovers. "University of Pittsburgh Company Description"]</ref> The [[university]] currently employs over 11,000 people.<ref> Post-Gazette. "Top 50: Biggest local private companies play high-profile role in region" April 09, 2002 [http://www.post-gazette.com/businessnews/20020408topprivatebiz7P7.asp]</ref> |
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====PNC Financial Group==== |
====PNC Financial Group==== |
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{{Main|PNC Financial Services}} |
{{Main|PNC Financial Services}} |
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PNC Financial Services |
PNC Financial Services is a retail banking service that also offers asset management, insurance, investments, and capital markets products and services. PNC Financial Services operate close to 2,600 branches in the mid-Atlantic region and the Midwest. It provides fund administration services through PNC Global Investment Servicing. PNC also owns boutique investment bank [[Harris Williams]] and about a third of money management giant [[BlackRock]]. PNC used some of the funds from the [[US Treasury]]'s $250 billion plan to bolster the banking industry to acquire troubled rival [[National City]] in 2008.<ref>[http://www.hoovers.com/pnc-financial/--ID__11138--/free-co-profile.xhtml Hoovers. "PNC Financial Services Company Description"]</ref> |
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Revision as of 02:02, 1 December 2009
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History
Early Foundation
During the 18th century large coal deposits were discovered throughout Pittsburgh. Mt. Washington, originally called "Coal Hill" “most valuable deposit of bituminous coal in the entire United States, was discovered there in 1760”.[11] Along with the natural resources of the area, Pittsburgh was located at the intersection of the Monongahela, Ohio, and Allegheny Rivers, that is, along the major trade routes of the United States. Thus, making Pittsburgh "one of the world's leading industrial powerhouses".[12]
In 1892, the economy of Pittsburgh faced the Homestead Strike between the Amalgamated Association of Iron and Steel Workers and the Carnegie Steel Company. After the worker's previous wage contract expired in 1892, and a new negotation was not reached a violent conflict ensued leaving several dead and wounded. Ultimately, The Carnegie Steel company won and had avoided union formation in Pittsburgh.[13]
Industrial Revolution
Pittsburgh’s wealthiest industrialists during the 1800’s all lived in a single neighborhood known as East liberty. The major list of industrialists include H.J. Heinz, George Westinghouse, Andrew Carnegie, Thomas Mellon, Henry Clay Frick and Philander Knox. All of these men shared similar ideas in the system of capitalism and utilized their skills to net the world’s highest income per capita during the 1800’s in this single neighborhood (Skrabec 5). [14]
Pittsburgh produced around one third of the national output of steel by the 1920s. During this time period Pittsburgh was home to the world's largest tube and pipe mill, structural steel plant, rail mill, wire manufacturing plant, bridge and construction fabricating plant.[15] "Boat building and metal industries were later the economic base of the region. When coke from coal began to replace charcoal from wood in iron and steel making Pittsburgh grew up as the heart of the industry. A plentiful supply of bituminous coal underlies the Pittsburgh area."[16] Around forty percent of the nation's coal was obtained from within 100 miles of Pittsburgh.[15]
Twentieth Century
In the 1900s the economy of Pittsburgh was primarily driven by the steel industry. In 1901, The Amalgamated Association of Iron, Steel and Tin Workers organized a general strike against the U.S. Steel Corporation subsidiaries, causing the first strike since 1892.[17]
Due to the reforms of Franklin Roosevelt's New Deal, steel unions gained success in Pittsburgh. The Wagner Act of 1935 gave employees rights to self-organize in labor unions and made it unlawful for employers to prevent or interfer with such unions.[18]
However in the 1970s the steel industry collapsed leaving half of the nation's steelworkers unemployed.[19]
Transition into the Present Economy
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Industries
Statistics
Employment
The largest occupational group in the Pittsburgh area was office and administrative support with a total of 202,300 jobs representing 18.0 percent of area employment. Sales and related jobs made up the second-largest major occupational group in the Pittsburgh area with 124,520 jobs and 11.1 percent of local employment. Other local occupational groups with above-average shares included healthcare practitioner and technical, healthcare support, community and social services, and food preparation and serving related. Transportation and material moving and production jobs were also among the larger occupational groups in Pittsburgh, accounting for 6.9 and 6.7 percent of employment, respectively.[25]
Twenty First Century Progression
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References
This article incorporates text from this source, which is in the public domain: Occupational Employment and Wages in Philadelphia and Pittsburgh, May 2007
- ^ [1], "Information about Pittsburgh".
- ^ http://pittsburgh.about.com/od/employers/Major_Pittsburgh_Employers_Companies.htm
- ^ "UPMC Fast Facts" UPMC
- ^ Giant Eagle, "Corporate Overview" [2] 2009
- ^ "Top 50: Biggest local private companies play high-profile role in region", April 09, 2002 [3]
- ^ Hoovers. "West Penn Allegheny Health System Company Description"
- ^ Business Times. "West Penn Allegheny Health System lays off employees" July 9, 2009[4]
- ^ Hoovers. "University of Pittsburgh Company Description"
- ^ Post-Gazette. "Top 50: Biggest local private companies play high-profile role in region" April 09, 2002 [5]
- ^ Hoovers. "PNC Financial Services Company Description"
- ^ Hazo, Samuel. The Pittsburgh That Starts with You. 1986. p. 15
- ^ http://www.economicexpert.com/a/Pittsburgh:Pennsylvania.htm
- ^ Goldner, Cheri. "The Homestead Strike 1892" Spring, 1997 [6]
- ^ Skrabec, Jr., Quentin (2009). H.J. Heinz: a biography. Jefferson, North Carolina: McFarland & Company, Inc. p. 5. ISBN 978-0-7864-4178-5.
{{cite book}}
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(help) - ^ a b Watkins, Thayer."The History of the Economy of Pittsburgh" [7], .
- ^ United States History: 1877 to the Present
- ^ Historic Pittsburgh. "Chronology by Decade: 1900 - 1909"
- ^ U.S. Government. "The Wagner Act of 1935" Published in 1935
- ^ Woolcock, Stephen. "The International Politics of Trade and Production in the Steel Industry" ISBN 0865980403, 9780865980402 [8]
- ^ Pittsburgh's Future. "State of the Economy in Pittsburgh"[9], .
- ^ [[https://www.pnc.com/webapp/unsec/Requester?resource=/wps/wcm/connect/e63706004e5c67d3851f87fc6d630ad7/Pittsburgh_Oct09.pdf?MOD=AJPERES&CACHEID=e63706004e5c67d3851f87fc6d630ad7, "Pittsburgh Market Outlook".
- ^ [10], "Pittsburgh: Economy".
- ^ "Filmography". Pittsburgh Film Office. Retrieved 2009-11-12.
- ^ "State of Pittsburgh Economy".
- ^ [11], "Occupational employment and wages in Pittsburgh" United States Department of Labor.
- ^ City Data.com , "Pittsburgh: Economy" Allegheny County Department of Economic Development.[12]
- ^ Streitfeld, David (2009-01-07). "For Pittsburgh, There's Life After Steel". The New York Times. Retrieved 2009-11-17.
- ^ "MetroMonitor: Tracking Economic Recession and Recovery in America's 100 Largest Metropolitan Areas". Brookings Institution. 2009-09. Retrieved 2009-11-17.
{{cite web}}
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(help) - ^ [13], "Pittsburgh's Future: Why is the Economy doing Better than the Rest of the Country?".
- ^ a b c d Pittsburgh G-20 Partnership. "Why Pittsburgh"
External links
- Lessons for the G20: The revival of Pittsburgh, The Economist, Sep 17th 2009