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.

 

Fourth Economy’s Rich Overmoyer and Chelsea Burket Appear on “Our Region’s Business”

Fourth Economy CEO Rich Overmoyer, along with Director, Sustainable Communities, Chelsea Burket were recent guests on “Our Region’s Business” hosted by Bill Flanagan. They discussed Fourth Economy’s role as a platform partner for the Rockefeller Foundation 100 Resilient Cities initiative. Watch their appearance by clicking on the video below.

Nostalgia: Community Development Friend or Foe? Pittsburgh as a Case Study

Mabel-NostalgiaRecent podcasts about the benefits and drawbacks of nostalgia got me thinking about this human experience, its influence on communities, and what this means for community developers. I believe nostalgia can help create community, but prolonged nostalgia can be detrimental to a community’s ability to adapt and thrive. Community developers should recognize the value of a community’s collective nostalgia, but they should also work with communities to build upon this legacy and develop an inclusive story of the future. Pittsburgh, like many communities across the U.S., may benefit from this approach. Continue reading “Nostalgia: Community Development Friend or Foe? Pittsburgh as a Case Study”

5 Lessons From the MLB All-Star Game for Economic Opportunity Pursuits

Overmoyer-MLBIt’s All About the Distance. Or is It?

Sure, power contributes to your ability to hit a home run, but it’s also the mechanics of how you swing that can take the ball farther. Many community and economic development initiatives throw a lot of money (power) at an issue without an understanding of the underlying issues and opportunities. A better approach is to use community input combined with real-time data to better understand the current local mechanics and what forms of investment (money and time) it will take to support change. Continue reading “5 Lessons From the MLB All-Star Game for Economic Opportunity Pursuits”

Embedding Equity Into Economic Development

Guest Blog by Sarah Treuhaft, Director of Equitable Growth Initiatives, PolicyLink

Treuhaft-Inequit-BlogIt is another summer in which America’s deep racial fault lines are being painfully exposed. Following the horrific violence in Baton Rouge, Falcon Heights, and Dallas, in a July 8 poll seven in ten Americans said race relations are “generally bad.” A National League of cities analysis of one hundred “state of the city” speeches from 2016 found that mayors increasingly view racism and inequities as major threats to progress in their cities.
Continue reading “Embedding Equity Into Economic Development”

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”

Welcome Pia Bernardini

Fourth Economy welcomes Pia Bernardini to our team in the role of Operations Manager.

Pia oversees operations and administration for Fourth Economy. She has many years of experience in operations, marketing, and communications in the educational field in Washington, DC, and has been a key member of executive leadership teams, contributing to the development of strategic priorities and annual operational plans. Pia has strong project management skills and has had responsibility for operations, admissions, marketing, and data management. Her day-to-day tasks are focused on efficiency and consistency. She also has experience working at companies in periods of tremendous growth and change, including venture capital initiatives. She understands how to operate effectively in a start-up environment, developing creative solutions.

Pia holds a BA in Art History and Italian and Art History from the University of Virginia and an MA in Linguistics from Georgetown University.

Fourth Economy Co-Founder to take CEO Position in Blair County, Pennsylvania

I would like to convey my great appreciation and affection for all of my Fourth Economy team, clients and community as I announce that I will be leaving the firm to take on the President and CEO position at the Altoona Blair County Development (ABCD) Corporation in Blair County, Pennsylvania later this spring.

ABCD President and CEO Martin J. Marasco announced his retirement last month following a highly acclaimed and recognized 40-year tenure. Marty and ABCD have been consistently recognized as one the highest performing economic development organizations in Pennsylvania and throughout the mid-Atlantic region. This move represents a return home for me. I grew up in Blair County and “cut my teeth” in the economic development world working with ABCD from 2000 to 2007 as Director of Corporate Services and Government Affairs.

Times like these are truly bitter sweet as my family and I prepare for this new professional and personal phase of our life. Rich, Jerry and I have been together for almost 10 years working with communities across the country and building Fourth Economy into the firm it is today – a firm with a very strong national brand and an assembly of the best group of professionals any firm can offer. It has been more family than business to me, so while I am truly excited about this opportunity, it is tough to leave a group of great close friends and colleagues.

So as I move back to the practitioner side of things, a sincere thanks to all for making my tenure here at Fourth Economy so rewarding on every level. Between February 1 and April 1, I can be reached by email at stevejmcknight@gmail.com.

Fourth Economy Is Hiring

Fourth Economy Consulting is looking for an Operations Manager for our Pittsburgh, PA headquarters office. Fourth Economy is a dynamic and creative economic and community development strategy company with a growing portfolio of successful regional and national engagements.

The chosen candidate will support operations in three areas: administrative, financial and client engagement. This is a pivotal position as we look to continue to grow and serve our diverse portfolio of clients. We are seeking someone looking to commit a minimum of 20 hours a week with the potential for full-time.

If you are interested in learning more, download the complete position description here.

If you would like to be considered, please send a Cover Letter that indicates why you are interested in joining our team and a resume that highlights your relevant experience to Rich Overmoyer at rovermoyer@fourtheconomy.com. Rich will also address any questions you may have about the opening.

Education Innovation

Remake-LearningI think that few among our readers would argue that fostering an innovative K-12 education ecosystem plays a critical role in economic development. Employers and economic development officials from any industry will tell you that the critical skills for a modern workforce begin at the K-12 level. They will also tell you that attracting and retaining their current workforce means creating a community in which employees want to live, and education is a major factor in creating livable communities. However, influencing K-12 education to ensure that it’s creating an intelligent and creative next generation workforce often feels like an overwhelming challenge given the systemic barriers. Continue reading “Education Innovation”