Fourth Economy Analyzes Pittsburgh Region Life Sciences

Pittsburgh Region Life Sciences Benchmarking & Opportunities Analysis

The Pittsburgh Region Life Sciences Benchmarking & Opportunities Analysis report was prepared for the University of Pittsburgh with financial support from the Richard King Mellon Foundation and Hillman Family Foundation.

Fourth Economy Consulting conducted the analysis and report development in partnership with Warner Advisors during the summer of 2016. This report is meant to inform key Pittsburgh regional stakeholders about the assets and opportunities that exist in the life sciences industry sector and highlight areas of future focus. Read more from the Pittsburgh Post-Gazette here. The complete report is available here.

 

The Challenge of Creating Actionable Plans

Burket-Blog-Web-05-2016As part of our work in our hometown of Pittsburgh, we have been digging into all of the plans that have been created over the past five years or so. So far, we’ve found around two-dozen plans, reports, or studies on all manner of community, workforce, and economic development topics. Of those, about five have well-articulated goals, actions, responsible parties, though the form and detail of those components varies from plan to plan. And even with detailed actions, the degree to which those plans are being implemented varies a great deal. Our experience in Pittsburgh is not unique – we see the same trend in the other places that we work. So why is it, that despite our best wishes and intentions, it is so hard to create actionable plans? Continue reading “The Challenge of Creating Actionable Plans”

Increasing the Economic Impact of Trails

Economic-Impact-Trails

Across the country, communities are beginning to understand the economic value of developing trails. Though trail advocates and economic development organizations still often speak different languages, they are beginning to speak a shared language of talent attraction, tourism, and business development.

Different types of trails offer different economic opportunities. Continue reading “Increasing the Economic Impact of Trails”

How Bikes Build Communities

Bike-InfrastructureIf you build it…

These days it seems that new bicycle infrastructure appears every few months in Pittsburgh (a.k.a. Fourth Economy’s home) such as new signage, new bike lanes, and a brand new bike share program. In 2014, Pittsburgh was selected as a PeopleForBikes Green Lane Project city, and Mayor Peduto has called for a multi-modal approach to building out infrastructure. The City even has a 10-year plan to create a network of bike lanes through city neighborhoods. As a cycling commuter, I enjoy Pittsburgh’s 25 miles of off-street bike trails, and am excited about increased infrastructure for bicycles along city roads.

With limited budgets and a never-ending list of capital projects in the City, many Pittsburgh residents wonder whether these investments are worthwhile. Will all this bicycle infrastructure actually impact ridership and help the community? Continue reading “How Bikes Build Communities”

Upper Lawrenceville Community Visioning and Development Plan Receives “Great Places” Planning Award

Upper-LawrencevilleThe Environmental Design Research Association (EDRA), in partnership with Project for Public Spaces (PPS), has recognized evolveEA’s work in Upper Lawrenceville, also known as Pittsburgh’s 10th Ward, with a Great Places Award. The Upper Lawrenceville Targeted Development Strategy was developed through a series of charrettes led by evolveEA in which they helped the community craft a neighborhood identity and a series of principles guiding future development to achieve the community’s long-term livability goals. The principles built upon the existing physical and cultural legacy of Upper Lawrenceville but also were aspirational, seeding a vision for a future yet to come focused on economic, cultural and environmental issues.

Continue reading “Upper Lawrenceville Community Visioning and Development Plan Receives “Great Places” Planning Award”

Former Fourth Economy Client, Bedford County Planning, Advances “Pike2Bike” Plan

Pike-2-Bike-UpdateThis past April, Bedford County (PA) Planning Officials hosted one of several stakeholder tours of the decommissioned Rays Hill and Sideling Hill tunnels – tunnels that formerly served as Pennsylvania Turnpike auto tunnels.  The vision now is to convert those tunnels to serve hikers and bikers as part of a regional trail network.  Continue reading “Former Fourth Economy Client, Bedford County Planning, Advances “Pike2Bike” Plan”

It’s all About that Base: Baseline Data, Energy Planning, & Economic Development

P32-Energy-BaselineIt’s no secret that the best strategic plans are based on qualitative and quantitative analysis, using this information to determine the best allocation of resources to pursue growth and change.  Too often, strategic planning processes “jump right in” and do not take the time to fully understand and quantify current and expected conditions. Change cannot be measured without first analyzing existing conditions to establish a baseline dataset from which change can be measured. This approach also applies to regional energy planning. As regions consider energy in relation to economic development planning, there are direct correlations to the impact energy has on people, place, and ideas. Establishing a regional energy baseline must be the first step before tactical planning can occur.

Additionally, energy planning is an often-ignored element in developing regional economic development strategies. Energy is a universal business itself, however it also impacts every single industry and business within a region. Energy directly impacts the health of people across a region, and is a critical element to regional success. How can economic development planning occur without energy planning? Continue reading “It’s all About that Base: Baseline Data, Energy Planning, & Economic Development”

National Fourth Economy Community Index Lists Top 10 Mega-Sized Counties for 2015

141204-FECIndexFourth Economy Consulting announces the latest release of its national community index, listing top counties from across the nation. The Fourth Economy Index highlights those communities ideally positioned to attract modern investment and managed economic growth within the fourth economy.

PITTSBURGH, PA – The latest release of the Fourth Economy Community Index (FEC Index, #FECIndex) was announced today listing the nation’s top ten mega-sized Fourth Economy Communities. These communities are recognized as the regions ideally positioned to attract modern investment and managed economic growth among all regions with a population greater than 500,000 people.
Continue reading “National Fourth Economy Community Index Lists Top 10 Mega-Sized Counties for 2015”

Forget the Smokestacks…Chase the Housing: A Case Study in Smaller City Reinvention

141104-Small-TownIt has been a busy year here at Fourth Economy. Many projects have kept us hard at work, traveling across the country and meeting great folks. A theme among these projects has been a growing desire and recognition for all places, communities and towns to reinvent themselves – transform, reimagine, pivot – all in order to attract new investment and the talent that fuels it. And within this theme is a common recognition that without quality options to live, sleep and interact, it is tough to attract that talent. Housing and the context that surrounds a community’s housing stock is (or should be) a cornerstone to any competitive and sustainable economic development strategy. Continue reading “Forget the Smokestacks…Chase the Housing: A Case Study in Smaller City Reinvention”

Higher Eds use Economic Impact Studies for what?!

University-Economic-Impact-StudyThe answer is Higher Eds use economic and social impact studies for a lot of different reasons. Underlying is the desire to showcase their good work and demonstrate the value their work creates. And they want to communicate that value in terms that will resonate with internal and external audiences.  Audiences may include: public officials, policy makers, community residents, investors, and Higher Ed faculty, staff, students and alumni. Economic and social impact studies help Higher Eds compete for state funding, maintain their tax-exempt status, help defend against criticism and help increase fund-raising. Continue reading “Higher Eds use Economic Impact Studies for what?!”