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