Progress in the Region
Specialty Metals Company Expands In Washington County, Creating 60 New Jobs
The Perryman Company has broken ground on a $30 million expansion project at the California Technology Park in Washington County. The project, which is expected to create 60 new jobs, will create state-of-the-art titanium melting operations using both electron beam and vacuum arc remelt technologies. Perryman considered locations in Virginia and Maryland but decided to locate the plant in the Pittsburgh Region because of the skilled workforce here.
The Perryman Company is a privately-held company headquartered in Houston, PA (Washington County) with over $100 million in revenues. It was founded in 1988 and specializes in manufacturing titanium products used in the aerospace, medical, recreational, and automotive markets.
Allegheny Technologies Has Record Sales and Profits
In April, 2006, Allegheny Technologies announced that it had record sales of over $1 billion in the first quarter of 2006, up 18% over 2005, and first-quarter profits of over $100 million, up 68% over the previous year. Allegheny Technologies expects to make major investments in 2006 in order to expand production.
Allegheny Technologies, which is headquartered in Pittsburgh, is one of the largest and most diversified specialty metals producers in the world, with over 9,000 employees world-wide. It was formed in 1996 through the combination of Allegheny Ludlum and Teledyne, Inc. Allegheny Ludlum dates to the Revolutionary War, and provided the stainless steel used in the Chrysler Building in New York.
In addition to its headquarters in Pittsburgh, Allegheny Ludlum has eight manufacturing plants in five of the ten counties in the Pittsburgh Region (Allegheny, Armstrong, Beaver, Washington, and Westmoreland), plus an R&D Center in Natrona Heights.
Draper Triangle Ventures creates new $70 million venture capital fund in Pittsburgh
In April, 2006, Draper Triangle Ventures announced that it has raised a $70 million venture capital fund to be invested in early stage information technology and medical device companies. This is the largest venture capital fund raised by a Pittsburgh Region-based firm in the past five years.
Draper Triangle Ventures is the Pittsburgh-based fund of Draper Fisher Jurvetson, the Silicon Valley-based seed and early-stage venture capitalists.
Siemens creates 145 new manufacturing jobs in New Kensington
On April 19, 2006, Siemens Energy & Automation, Inc. announced that it is investing $7.2 million to expand its manufacturing facility in New Kensington, PA. The facility, formerly owned by the Robicon company, was acquired by Siemens in July 2005. Siemens plans to create 145 new full-time positions upon completion of the expansion, for a total of 480 jobs in New Kensington.
The facility develops, assembles, and tests large variable frequency drives that are used in oil and gas, power generation, and municipal wastewater applications. Siemens also has a technical product development center in nearby Plum Borough.
AK Steel invests $14 million to expand production in Butler County
On April 12, 2006, AK Steel announced that it will invest $14 million to expand production capacity at its manufacturing facility in Butler, PA. The facility, which is the largest employer in Butler County, produces electrical and stainless steels and has the largest Argon-Oxygen Decarburization (AOD) unit in the world.
AK Steel is a Fortune 500 company headquartered in Ohio, and is one of the world's largest producers of steel for power generation and distribution transformers.
R&D-based company expands in Indiana County
In April, 2006, Indiana County-based CQ, Inc. opened a new office headquarters and a new
subsidiary Hardwood Finishers plant in the Corporate Campus business park
As reported in the Blairsville Dispatch, the company had its roots in the Coal Quality Development Center -- a research facility that was created in 1981 as part of the Electric Power Research Institute. In the 1990s, it spun off and became an independent, employee-owned company. It has now also gone beyond a focus on the energy industry and started a hardwood finishing plant with seven employees -- a new manufacturing operation for the region. The company has 135 employees nationwide, 30 of whom are here in the Pittsburgh Region.
The company has also developed something called "E-Fuel." They have a joint venture with Westvaco Corporation, which runs a paper mill, to take waste paper and turn it into fuel pellets. The idea for the fuel came from experiments CQ, Inc. conducted at Indiana University of Pennsylvania with sewage sludge.
Boston-based Parametric Technology Corporation expands in Fayette County
On February 15, 2006, Parametric Technology Corporation, a Boston-based software company, announced that it was establishing a product development center in Uniontown, Fayette County. The company expects to create 125 jobs over the next three years. "Uniontown provides us with unique opportunity to build a sustainable operation with a deep talent pool from surrounding universities," said Barry Cohen, Executive Vice President of Parametric Technology Corporation (PTC).
PTC is a $700 million global company with over 3,700 employees, the majority of whom are located outside of the United States. The company produces computer-aided design tools and document management systems with a focus on manufacturing firms. For example, Pittsburgh-based Medrad, Inc. uses PTC's software for rapid prototyping projects.
Precision Therapeutics Raises $20 Million in Venture Capital
Precision Therapeutics, a technology start-up company in the Pittsburgh Region, completed a deal for $20 million in venture capital funding in February 2006. The lead investor was Quaker BioVentures from Philadelphia, and three Pittsburgh venture capital firms participated (Adams Capital Management, Birchmere Ventures, and Draper Triangle Ventures), as well as a German venture capital firm (TVM - Techno Venture Management) with its U.S. office in Boston.
The company produces ChemoFx®, a test to measure the response of a cancer patient's tumors to different types of chemotherapy using small amounts of cells from the patient's tissues. The test helps doctors determine which type of treatment will be most effective for that patient.
With the new funding, Precision Therapeutics expects to double its current employment of 35 by the end of 2006.
The CEO of Precision Therapeutics, Sean McDonald, is one of the Pittsburgh Region's "serial entrepreneurs." He started a company in southwestern Pennsylvania called Automated Healthcare, made it successful, and sold it to McKesson Corporation in the 1990s. Now called McKesson Automation, it currently employs approximately 1,000 workers at its headquarters and manufacturing facilities, all of which are located in southwestern Pennsylvania.
Steelers win Super Bowl XL and Focus World Attention on Southwestern Pennsylvania
Hopefully you didn't have to come here to discover this, but it's good news for the Pittsburgh Region! The Pittsburgh Steelers won Super Bowl XL on February 5, 2006. Pittsburgh is only the third city in 40 years to have won 5 Super Bowls. The attention of the world is focused on the Pittsburgh Region right now, providing an excellent opportunity for marketing the region's advantages.
UPMC Building Biodefense System for the Pittsburgh Region
On January 26, 2006, the University of Pittsburgh Medical Center (UPMC) announced that it was receiving $8.5 million in federal funds through the efforts of Congressman John Murtha to develop the Strategic Biodefense Emergency Operations and Communications System (SBS). The SBS will be the nation's model for rapid response to man-made and natural disasters. See UPMC's Press Release for more information.
Medrad Expanding, Building New Headquarters in Region
On November 17, 2005, Medrad announced construction of a new $25 million headquarters building at the Tech 21 Research Park in Marshall Township, Allegheny County. The facility will enable the medical devices manufacturer to add about 400 manufacturing and research jobs in the region. See Medrad's Press Release, CEO John Friel's remarks, and newspaper coverage for more information.
Pitt Ranks Sixth Nationally in Start-Up Company Creation
Ten new startup companies were created in 2004 as a result of research conducted at the University of Pittsburgh. Pitt ranked 6th in the nation in the number of start-up companies created. See Pitt's Press Release for more information.
Google Creating R&D Jobs at Carnegie Mellon Campus in Oakland
On December 15, 2005, Google announced plans to set up a research and development facility near the campus of Carnegie Mellon University that could create as many as 100 jobs over the next few years. The company said it was coming to Pittsburgh because it wanted to hire Carnegie Mellon graduates and researchers who refused to leave Pittsburgh. See the newspaper coverage and the in-depth article in Pop City for more information.
Pittsburgh Region's History on National Television
On January 18, 2006, The War That Made America, a four-part, $13 million documentary on the French & Indian War, debuted on national television. The film describes the early military career of George Washington, which started in southwestern Pennsylvania in 1754. The film was shot on location in the Laurel Highlands, creating jobs for regional residents. It will also help attract tourists to the region, which has more French & Indian war sites than any place in North America. See The War That Made America, French and Indian War 250, and newspaper coverage for more information.
Bayer Wins National Ron Brown Award for Corporate Leadership
On January 5, 2006, Bayer Corporation received the national Ron Brown Award for Corporate Leadership at a White House Ceremony. The award is given annually to companies that have demonstrated a deep commitment to initiatives that empower employees and communities while also advancing strategic business interests. Dr. Attila Molnar, President and CEO of Bayer, accepted the award, which recognized Bayer's Making Science Make Sense science literacy program. See Bayer's Press Release for more information.
PNC announces downtown project
On December 20, 2005, PNC Financial Services Group announced it was building a new $170 million complex in Downtown Pittsburgh. The project will include a 25-30 story office tower, a new hotel, condominiums, and retail. The project is expected to generate about 800 construction jobs, and will provide space for expansion for PNC and for law firm Reed Smith. It will help revitalize the downtown retail district. See newspaper coverage for more information.
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