The Pittsburgh biotech industry got a big boost with the announcement that the state will kick in $7.25 million to help build a $46 million technology center that will create 400 new jobs for the region.
The Pittsburgh Technology Center, a planned five story, 165,000-square-foot facility, will be developed by the Cleveland-based Ferchill Group. Located on a 1.5 acre parcel east of the Sunoco building along the Mon, it is the initial project of the second phase of development. If the demand for space continues as expected, the technology park can accommodate up to one million square feet of additional development, says Robert Rubinstein, director of economic development for the URA.
Ground breaking is expected to take place in September.
“Because of its strategic location in the Greater Oakland Keystone Innovation Zone, this facility will make valuable wet lab space available for lease by nearby universities and hospitals,” touts Gov. Ed Rendell. “Several companies have expressed the need for such space in close proximity to the University of Pittsburgh, the University of Pittsburgh Medical Center and Carnegie Mellon."
“This development will really be an indicator to test the findings from reports that indicate that there is demand in our region for up to three million square feet of R&D space in the next five years,” adds Rubinstein. “How quickly this fills up will be a good indicator of how accurate that is.”
Writer: Deb Smit
Sources: Gov. Ed Rendell; Sheila Kavalec, Ferchill Group; Robert Rubinstein, URA
Image courtesy of The Ferchill Group/Strada