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Looking good Pittsburgh. PittsburghTODAY report highlights the state of the region

PittsburghTODAY released its 2013 Today & Tomorrow report and the news across many sectors is enlightening.
 
With the economic recovery still underway in much of the country, Pittsburgh is the only benchmark region out of 15 that has experienced job growth and housing price appreciation. In addition, the labor force is at an all-time high and young people are returning and staying in the region.
 
Southwestern Pennsylvania continues to be one of the most affordable places for moderate-income families to live. A Brookings Institution study says so too, listing Pittsburgh as one of three cities in the U.S. to have recovered from the deep recession that began in 2007.
 
The region, however, has work to do in several areas, including transportation, the environment and issues pertaining to diversity, particularly in helping African Americans in the region to achieve the same quality of life as whites.
 
Among the highlights:
 
Population: It has been official but bares repeating: the region is attaining and attracting young talent. The region’s population of 20- to 34- year-olds grew by 7% over the last five years and is expected to grow another 8% in 2020. Three decades earlier the region was losing more than 50,000 people than it was attracting, mostly young adults.
 
Jobs: Jobs grew by a non-seasonably adjusted 1.7 percent in the seven-county Pittsburgh Metropolitan Statistical Area (MSA) from November 2007 to November 2012. Certainly not robust, but it was better than any of the Pittsburgh TODAY benchmark regions. Pittsburgh was the only region to post job growth over that period.
 
Tourism: Visitors to Southwestern Pennsylvania pumped $8.1 billion into the local economy in lodging, recreation, retail, food and beverage, transportation and other spending during 2011,the latest year the full data was reported. This is a 9.6% increase over 2010.

Housing: Pittsburgh was the only region in which the 5-year housing prices rose from 2007-2012.
 
Environment: While fine particle pollution is slowly decreasing, and met federal air quality standards for the first time in 2011 since the Clean Air Act was passed in 1970, smog and sewage spills and the health of our rivers remains an issue.
 
Fracking: Across the region, a survey shows that far more residents are convinced of the economic potential of the Marcellus Shale gas industry than are against drilling for it. More than 70% of those surveyed believe that gas drilling is boosting the local economy.
 
Writer: Deb Smit
Source: PittsburghTODAY

Sprout Fund supports 20 new biodiversity projects with $190,000; PLSG on the move

Good news for the region's biodiversity and life sciences industry.

PLSG received $500,000 in funding that will help to establish a life sciences campus on the South Side at the River Park Commons Business Center.

The funding comes from a Redevelopment Assistance Capital Program (RACP) grant from the state. The new campus will provide space for four to six wet-labs in addition to the existing 9,000 square feet of life sciences labs. PLSG will also move its office to the campus.

"The demand for this campus is significant as an increasing number of new biotechnology companies are being launched throughout the nation, and geographic clusters to house these new, start-up companies are highly competitive," said John W. Manzetti, President and CEO.

In other news, 20 biodiversity projects received $190,000 this week as part of a new initiative to support the stewardship of Southwestern Pennsylvania's natural resources.

The Sprout Fund and The Pittsburgh Foundation hope to jumpstart community-based biodiversity projects in the region through the Spring Program. The funded projects were selected from among 75 applications, says Dustin Stiver of The Sprout Fund.

"These projects offer an exciting array of innovative solutions to the many environmental challenges we face," says Stiver. "With diverse objectives and creative approaches, they give promise that the biodiversity of our resource-rich region can be preserved and enhanced for generations to come."

Six biodiversity projects received $20,000 awards including:

BioShelter and Food Systems Center at the Garfield Community Farm, where a permanent bioshelter will extend the farm's growing season and offer educational opportunities to the nearby elementary school;

Green Roofs for Bus Shelters in East Liberty, introducing flora and fauna into the urban environment through a living green roof on Penn Avenue;

Heritage Seed Bank and Nursery for seed banks and educational opportunities in the preservation of native heritage or heirloom edible plants;

Native Appalachian Garden, part of Pittsburgh Botanical Garden, cultivating woodland species of the region;

And Take a Hike: Backyard Biodiversity for a traveling presentation that will lead elementary school children on an exploration of the Earth's biomes at the Carnegie Science Center.

The other 14 recipients receiving $5,000 awards are include outdoor classrooms for children, ecological gardens, artificial chimney habitats for neotropical migrant birds, rain gardens in schoolyards with the help of Nine Mile Run Watershed Assoc. and native plant restoration projects.

Writer: Deb Smit
Source: PLSG, Dustin Stiver, The Sprout Fund


Pittsburgh aspires to be the most tech-savvy city in the country

The e-democracy race is on and if Councilman Bill Peduto has his way, Pittsburgh will blow the door of city government wide open and leave cities like Boston in the dust.

Peduto invited several Pittsburgh-based tech companies to City Hall this month to discuss using a mix of homegrown technologies to promote a unique blend of tools that would help constituents to better track goings on.

Among those who came to the table were online social political network MyGov365, searchable video data company Panopto Inc, web-based broadcaster Vivo and the Carnegie Mellon developer of YinzCam technology, which allows mobile phone users to watch replays of Penguins action inside the arena.

This is just the beginning, says Peduto. The discussion won’t be limited to these companies.

“Pittsburgh can be a model of e-democracy for the world. We want Pittsburgh (government) to not only be on the forefront, but to offer leverage to our own Pittsburgh-based companies to use the city as a test market to sell their products worldwide.”

Pittsburgh has $52,000 to webcast council meetings, which should be enough to cover the webcast and more, Peduto says. The city plans to award a contract to begin providing webcasts and searchable video by the end of this month.

Other proposed initiatives include an iPhone application for city government, a searchable database of all council votes and records offered by MyGov365 and offering online access to community meetings.

Writer: Debra Diamond Smit
Source: Councilman Bill Peduto, City of Pittsburgh

Image courtesy Councilman Bill Peduto

Getting ready for the G-20 Summit--weigh in now!

When leaders of the world’s most important emerging-market countries come to Pittsburgh this fall, what will they need, see and experience?

Suggestions poured in this past week during three public brainstorming sessions. Not able to attend?  Share your ideas and sign up for potential volunteer opportunities at the Pittsburgh G-20 Partnership Web site by clicking here.

“We’ve gotten some really great ideas, things we hadn’t thought of,” reports Kevin Evanto of Allegheny County. “Many say they want the city to gleam, a display of flags of all the nations, to welcome people in their native language.”

One gentleman suggested inviting illusionists to walk the streets because no one needs a translator to understand the language of magic.

Other thoughts? Pittsburgh must live up to its green image with sustainable opportunities and recycling offered everywhere, at hotels, on the streets, in parks. Stage a special light-up or festival of lights, get the ethnic communities involved, improve signage and enlist university and high school students to volunteer.

“We’re still waiting to hear from the White House on many issues, but we want to be as prepared as possible so when we get direction, we can act,” Evanto adds. “We want to be in a position to respond to the White House right away.”

The county plans to create an online media center so when 3,000 reporters descend, they will find a Web site filled with story ideas and local opportunities.

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Writer: Debra Diamond Smit
Source: Kevin Evanto, Allegheny County

Marcellus Shale: drillers move in, environmentalists rally for tax and habitat relief

The largest gas deposit in North America, a reservoir lodged in rock 6,000 feet under the ground, is luring big gas drillers from around the world to our region.

It’s also causing concern among environmental groups across the state.

Houston-based Cabot Oil & Gas recently opened a regional office in Pittsburgh to better position the company for Marcellus Shale business, a deposit that spans four states and may contain 50 trillion cubic feet in natural gas estimated at $1 trillion. 

Pittsburgh is the firm's new North Region office; the company’s offices in Charleston, W.Va. and Denver, Colo. will close by the end of the summer and more than half of the impacted staff will move to Pittsburgh, according to the company.

Environmental concerns about the drilling have prompted local groups to rally for a state severance tax on the drillers, money they believe should go to restore and preserve local habitats and urban streams, such as the restored Nine Mile Run Watershed in the East End.

In addition to the tax, PennFuture and others want to place a portion of the funds in the state's Environmental Stewardship Fund, which would reinvest in parks, habitats, waterways and open spaces.

The Marcellus Shale gas deposit runs from upstate New York, across most of Pennsylvania and into West Virginia and eastern Ohio. Most states charge drillers a small tax in exchange for extraction rights.  Pennsylvania should do the same, say tax supporters.

If approved, the tax could generate more than $100 million next year and $600 million by 2013, says Joylette Portlock, Western Pennsylvania outreach coordinator for PennFuture.

PA Republican senate leaders are against the tax. Now is the time to contact legislators before the drilling is well established, Portlock told an assembled group at East Liberty Presbyterian Church last week.

“There are tremendous environmental impacts of drilling on the local economy,” added Hannah Hardy of the Pennsylvania Environmental Council. “This is the best way to ensure that there will be benefits to our community.”

To join PennFuture in support of the severance tax, click here.

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Writer: Debra Diamond Smit
Source: Joylette Portlock, PennFuture

Image courtesy flickr.com



Internships galore, find them and get 'em here

Looking for that perfect intern or internship? The Regional Internship Center of Southwestern Pennsylvania is an indispensable resource.

RIC is an online, local clearinghouse for internships in the region, connecting talented and eager college students with businesses, explains Regina Anderson, director of RIC.

This month the center launched a new streamlined Web site with a complete listing of available jobs-in-training, including resume help and networking suggestions. The site serves as a one-click location where students can connect with opportunities and businesses can recruit talent.

RIC also plans to expand its reach in the next several months to include other parts of the state.

“We’re very unique in terms of the kind of support we provide,” she says. “We directly address the brain drain by helping to attract and retain talent in the region.”

It’s not too late to find work for the summer, notes Anderson. While RIC currently lists internships for the fall, openings are posted on a year-round basis.

More than 400 students participate in the RIC summer program each year. In today’s job market, a student can’t have too many internships, she adds. Those who take advantage of multiple opportunities have an advantage over student job-seekers who’ve only done one internship during their college career.

The cost to participate is $50, but many companies agree to cover the fee.
The RIC is supported by 70 educational institutions in the region and is a program of Coro Pittsburgh. The program is sponsored by the Alcoa and Benedum foundations as well as The Heinz Endowments.

To receive Pop City free each week, click here.

Writer: Debra Diamond Smit
Source: Regina Anderson, RIC


Image courtesy Coro Pittsburgh



Fill ‘er up—Howard Hanna jumps on board the Delta non-stop to Paris

The Howard Hanna Company has stepped up support for the non-stop Delta flight from Pittsburgh to Paris with the purchase of more than 100 reservations for company employees.

For the past 20 years, the real estate Hannas and Hanna Travel have rewarded their sales agents with incentives, three levels of trips they can earn based on their annual production. Top sellers will receive a trip to Paris aboard the Delta non-stop, five nights and six days during March of 2010.

“I feel it is imperative we all support our new service from Delta to make sure we retain a valuable airport here to encourage local businesses to grow within the region,” says Helen Hanna Casey, president of Howard Hanna Real Estate Services.  “We want to make it easy for people from everywhere to be able to get here easily!”

The Allegheny Conference has pledged more than $4 million to Delta through the year 2012 in support of the direct flight, should revenue fall short.

“Nonstop air service sends a clear message to the world: The Pittsburgh region is open for bilateral business and foreign direct investment,” says Dennis Yablonsky, CEO of the Allegheny Conference on Community Development.

“Regional businesses can now efficiently connect with their global clients, and it’s equally efficient for those abroad looking to do business or invest here to connect with us. Using the service is the only way to ensure that our region doesn’t lose a critical business advantage.”

To receive Pop City free each week, click here.

Writer: Debra Diamond Smit
Source: Helen Casey Hanna, Howard Hanna; Dennis Yablonsky, Allegheny Conference

Image courtesy flickr.com

Call us Green County, Car Free Fridays and other sustainable news

Allegheny County will use $8.1 million in federal stimulus funding to conduct energy audits of county municipal buildings and offer energy-saving upgrades to County-owned municipal facilities.

Duquesne Light will partner with the county on the audits, which will include a review of lighting systems, heating and air conditioning, computer systems and the overall thermal envelope. About $2 million will be spent on the upgrades; eligibility will be based on the percentage of low and moderate income population in each municipality.

Another $5.8 million will be spent on conservation projects at the Courthouse, County Office Building, Jail, Shuman Center and Kane Regional Centers. The reduced energy consumption should save taxpayers an estimated $500,000 annually, the county says.

Allegheny County has also hired Jeaneen Zappa as the region’s first sustainability manager. Zappa will work with County departments and the Green Action Team to identify ways to improve the region’s ecological footprint.

The greening of the county “will result in significant energy conservation projects in local government facilities throughout Allegheny County, which will translate into savings for taxpayers and jobs for local workers,” says County Executive Dan Onorato.

In other green news, BikePGH hopes to clean the local air this summer by expanding its Bike to Work Day to an every week event. Car Free Fridays will start on June 12, a city-wide initiative to encourage commuters to leave their cars at home once a week and walk, bike or take public transportation. The event is sponsored by Port Authority and Mullen.

And Pittsburgh’s first green concert series is back, bigger and better than ever. The free, outdoor Solar Concert Series will feature 13 shows powered by a solar-energy sound system. For concert information, click here.

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Writer: Debra Diamond Smit
Source: Dan Onorato, Kevin Lane, Allegheny County; Bike Pittsburgh


Get your game on with deeplocal’s Pickupalooza

On blue summer days when there seems to be no one around to play, Pickupalooza.com is your friend.

Deeplocal has developed a new Web site that matches people and sports and locations around Pittsburgh. Simply go online, pick a game—tennis, soccer, basketball, whatever— that matches your interest, schedule or location and teammates materialize instantly.

Better yet, organize your own game.

“It’s about getting out there, meeting new people in the city and having fun,” explains Heather Estes, director of product evolution. “It’s often hard to meet people with the same interest through the bar and club scene. Everyone wants to play tennis, go for a bike ride or play a sports game. Pickupalooza is a perfect solution.”

The site is generating lots of playing interest, says Estes, who played soccer with 16 Pickupaloozas at Schenley Park on a recent weekend. Friends can send the participation link to friends and post it on Facebook or Twitter. If clouds roll in, players receive alerts on game changes and cancellations.

The most popular games are flag football, soccer and tennis so far, but a move is underway to add board games, tai chi, even Ultimate Frisbee. Players don’t need to register, but those who do create a profile with a game history, upcoming games and neighborhoods where you played.

“We want to connect with different organizations in the city, like sports leagues and city parks, and pass the word around,” says Estes. “We want everyone to know we exist.”

To receive Pop City free each week, click here.

Writer: Debra Diamond Smit
Source: Heather Estes, deeplocal

Image courtesy Deep Local

Real talk about city-county consolidation on June 5th

A major public forum and a cast of community leaders will come together to jumpstart the conversation on a city-county consolidation plan this June.

The Pittsburgh Foundation and the University of Pittsburgh Institute of Politics will co-host a public forum to encourage a community discussion and promote proposed options on the long-debated merits of making the two geographical and political entities one.

The Future of City/County Collaboration on June 5th hopes to initiate a broad public education campaign, including a series of conferences and town hall meetings that will facilitate unrestricted discussion and bring decision-making information to the widest possible audience.

Guest speakers will include community leaders from Charlotte, Miami and Louisville, together with Mayor Luke Ravenstahl and Allegheny County Chief Executive, Dan Onorato.

“The issues are too important to ignore,” says Grant Oliphant, president and CEO of The Pittsburgh Foundation. “It would be irresponsible for us as a community not to consider bold and different ways of managing government, especially in the present economic climate. Our hope is to help the community have that conversation.”

The forum hopes to attract a broad range of community representation—civic and business leaders who can make the partnership happen. Among the agenda topics are enhanced government cooperation, functional consolidation, a full structural merger, federated metropolitan government and more, says Terry Miller, director of the University of Pittsburgh Institute of Politics.

The Future of City/Community Collaboration will be held from 8:00 a.m. to 3:45 p.m. on Friday June 5 at the Heinz History Center, 1212 Smallman Street.

To receive Pop City free each week, click here.

Source: Grant Oliphant, The Pittsburgh Foundation; Terry Miller, University of Pittsburgh




Get the latest election returns, follow the money, get your dog tags--all online

Allegheny County has launched several online initiatives that follow the money and promote greater political transparency.

And there’s a new Web site to renew your pooch’s license too.

Local residents can track election results as they come in (click here), monitor the flow of federal stimulus funding to the county (click here) and review  campaign finance reports filed by municipal, school district, county candidates and political committee (click here) all with the click of a browser.

Need to renew your dog license? The process is now streamlined online (click here).

“Ever since Dan took office we’ve increased our effort to offer services and information online,” explains Kevin Evanto, county spokesperson. “The idea is to make government more open and transparent to residents and taxpayers. We plan to offer a lot more services online in the future.”

Residents who wish to follow campaign money can do so without the hassle of driving downtown, parking the car and standing in line. Campaign reports will be posted and accessible to the public within 72 hours of each filing deadline and will remain online for 5 years.

Care to track the stimulus spending in our region? A complete breakdown of funds and projects is available.

“More than $377 million in federal stimulus funding has already been appropriated for infrastructure, job training, education, health care, housing, energy efficiency and other programs in Allegheny County,” notes Dan Onorato. “These dollars will create thousands of jobs, bolster our economy, and help residents get back on their feet.”

To receive Pop City free each week, click here.

Writer: Debra Diamond Smit
Source: Dan Onorato, Kevin Evanto, Allegheny County

Image courtesy flickr.com


Join the Pittsburgh walking challenge, win a trip to Nemocolin

Pittsburgh is stepping its way to fitness this month with the 3rd Annual “Ready, Set, Walk!” Challenge.

“We have a very walkable downtown and we want to encourage people to get out and see it,” says Lucinda Beattie, vice president of transportation for the Pittsburgh Downtown Partnership. “The mission is to reduce pollution, decrease traffic congestion and encourage people to integrate walking into their daily lives.”

Participation is easy. Click here to fill out an online registration form and attend one of the three 2009 kick off events on June 1 where you will receive a walking resource kit. Pick up locations are Schenley Plaza, the Mall at Robinson or Market Square in Pittsburgh. Participants will receive a free t-shirt and pedometer to track the miles.

Once a week, log onto the website and record your steps to qualify for a random weekly drawing for fabulous prizes including an iPodShuffle and a $1,000 gift certificate to Nemacolin Woodlands Resort. A celebration of walkers will take place on June 20th with more prizes for top walkers from each neighborhood.

The Challenge, part of America On the Move, is presented by the Airport Corridor Transportation Association, the Oakland Transportation Management Association and the PDP.

Check the website for updated information on packet pickup and to make alternative arrangements.

But why wait till then to start walking? Next week marks Pa. Hiking Week 2009. From May 23rd until May 31, hikers across the state will participate in special hiking events in parks, forests and towns across the state.

There are night hikes, wildflower walks, hikes for people with disabilities, pet walks, geology walks and more. For local Hiking Week details, click here.

The events are planned by DCNR and the Keystone Trails Assoc., a 1,100 member group made up of hiking and outdoor organizations throughout the state.

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Source: Lucinda Beattie, PDP
Image courtesy PDP

Rhiza Lab’s Flu Tracker monitors the latest on H1N1—is history repeating itself?

Pittsburgh technology is playing a key role in tracking the swine flu, generating an avalanche of interest around the world and raising concerns about the future threat of the virus.

South Side-based Rhiza Labs, with its web-based Flu Tracker mapping tool Rhiza Insight, has partnered with local biomedical research company Recombinomics to monitor the data and spread of H1N1 around the globe. 

And Recombinomics founder and president Dr. Henry Niman doesn’t like what he sees. Prepare yourself for some not-so-good news.

The spread of H1N1 is following a very similar path to the last outbreak of swine flu in 1918, which began with a mild pandemic in the late spring, waned during the summer months in the Northern Hemisphere and returned with greater deadly force in the fall at the start of the subsequent flu season.

One third of the world’s population was infected in the 1918 outbreak, which killed three percent of the world’s population, says Dr. Niman who has studied the earlier virus is writing a scientific paper on the two pandemics.

Recombinomics studies the sequences of how viruses evolve over time through recombination, a process that assists in the development of new vaccines. Dr. Niman’s extensive research on the 1918 swine flu tells him that this present strain is following a similar path, yet is different in its ability to move from person to person “fairly efficiently.”

“The point that I’m making is not only do we need a vaccine for what exists, but what is likely to exist four to six months from now,” Dr. Niman says. “It’s still early, but this is something that everyone needs to monitor very closely.”

A hallmark of the 1918 virus was it tended to take the lives of younger people between 25 and 45, similar to the present flu pandemic. If the virus resurfaces this fall, the virus could contain properties of human flu as well as avain flu, he adds.

That’s where Rhiza, which specializes in web-based, dynamic data visualization tools, comes in. Unlike other systems currently in use, Dr. Niman's methodology tracks individual reports of suspected or confirmed flu cases using the media and official government statements. Rhiza’s map monitors the confirmed cases with pindrops.

The next big question, says Dr. Niman, is how many cases will surface in the Southern Hemisphere, which is only now entering flu season? History suggests H1N1 will travel south before returning north.

“So far it’s really tracking like 1918; if it doesn’t do anything in the southern hemisphere that would revise things.”

“We’re five days ahead of the CDC in terms of tracking this,” explains Josh Knauer, CEO of Rhiza, whose company Web site was averaging 1,100 users per second this week.  “The eyes of the world are on this as the most accurate predictor of what is coming. It’s a story of the Internet and the citizens who are coming together to help track this emergency faster than the government.”

To view Rhiza's FluTracker, click here. To read more about Dr. Niman’s research, click here.

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Writer: Debra Diamond Smit
Source: Dr. Henry Niman, Recombinomics; Josh Knauer, Rhiza Labs

Image courtesy Rhiza Labs




Car shopping? Female friendly car dealerships get nod here

Is it true that men are scrappier negotiators, apt to push harder till they get what they want while women often cave early or fail to push their point at all?

Anne Fleming thinks so and has built a car-buying Web site around the concept, Women-Drivers.com. The site is attracting national attention.

The Bellevue resident was first inspired  by Pittsburgh’s own Linda Babock of “Women Don’t Ask,” a tome on negotiation and the gender divide. With women paying $1,350 more on cars than men, Fleming enlisted Campos Inc. to conduct additional research and launched the site live in October of 2008.

Women-Drivers.com tracks 19,000 car dealerships across the country and offers everything from tools to negotiate the price, female-friendly dealership reviews, "his" and "her" blogs and “groovy car gadgets.”

“We’re a place where women can go to empower and educate themselves,” explains Fleming, CEO and founder who admits to hiring a broker to purchase a used BMW before she got smart. “Today is a new day. Many dealerships now are totally committed to a customer satisfaction experience.”

The site has caught the attention of ABC News and local radio and TV. On the business side, Women-Drivers.com sells analytics to the dealership network so that they can improve their level of service to women – who by the way influence 80 percent of all car purchases, she says. The company, a staff of four, focuses on Pa, Ohio and West Virginia, but plans to go nationwide.

“Consumers love the site because they can share and rate their experience,” adds Fleming. “Dealerships are happy because the higher their ratings, the higher they are featured in our search engine – resulting in more women and referrals coming in their store.”

Writer: Debra Diamond Smit
Source: Anne Fleming, Women-Drivers.com

Image courtesy Women-drivers.com

Pittsburgh money lenders reflect on region's first quarter deal flow

A first quarter look at venture capital investment for the region shows what one might expect after the national economy dive-bombed—venture activity is down. Do the figures reflect the local deal flow?

The first three months of any year aren’t much of a crystal ball for the future says the Pittsburgh Life Sciences Greenhouse and Innovation Works. Both are coming off record years for startup investment in the region. Several deals in progress are missing from the first quarter stats and both investment incubators say many deals are in progress.

Figures from the National Venture Capital Association reported that Southwestern Pennsylvania saw a total of 15 deals valued at $7.28 million for the first quarter 2009. Included in the figures were ReGear Life Sciences at 1 million, Cellumen at $530,000 and two undisclosed companies at $3.8 million and $1.05 million.

National levels are the lowest in 12 years. Figures are from the Money Tree Report from Pricewaterhouse Coopers and the National Venture Capital Association.

The good news is that there’s a lot of money out there, reports John Manzetti, president and CEO of PLSG. Life sciences and energy continue to generate activity regionally. Several deals are in progress and weren’t included in the figures, including Foundation Radiology Group which recently received $10 million.

“Everyone’s sharpening their pencils a bit more, but we’re wall to wall busy,” says Manzetti. “We’ve had so much activity you have to sit here and watch it to appreciate it.”

During a January healthcare conference in San Francisco, PLSG discussed active funding with 40 companies in the region. Many are receiving follow up visits. “People are coming to Pittsburgh to see them, that’s the indicator I use,” Manzetti says.

Innovation Works Matt Harbaugh, chief investment officer, concurs. “It’s hard to draw a conclusion based on this one quarter of deals,” he notes. “I don’t think we’ll know how 2009 will turn out until we get further into the year.”

If the $10 million investment in FRG were included in the NVCA figures, the total would have mirrored the first quarter of 2008, Harbaugh adds. IW reported its best fundraising year in the incubator’s history in 2008.

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Writer: Debra Diamond Smit
Source: John Manzetti, PLSG, Matt Harbaugh, Innovation Works, NVCA

Image courtesy of Carolyn Serrano and Flickr
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