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.

 

NIST Announces NMII Competition

Paytas-Blog-20160405Recently, The National Institute of Standards and Technology (NIST) announced the competition to award its first National Manufacturing Innovation Institute (NMII).  Proposers may focus on any advanced manufacturing technology area not already addressed by another institute or open competition. Seven institutes have been funded to date with two currently moving through the review and negotiation process. After attending the Proposer Day session on March 8, 2016, it is clear that many proposal teams have already been formed. Continue reading “NIST Announces NMII Competition”

48 Hours in Pittsburgh with the Consulate General of Canada

Bernard-Blog-20160405To many Americans, Canada is our friendly neighbor to the north, known for an affable attitude, a passion for pucks and a penchant for strong beer.  What is perhaps less known is how critical trade with Canada is to the economy of the United States.  Consider:

  • Nearly 9 million U.S. jobs depend on trade and investment with Canada
  • Canada is the top export destination for 35 states
  • Canada is the number one supplier of crude oil, refined petroleum products, natural gas,
    and electricity to the U.S. as well as a
    leading supplier of uranium
  • 400,000 people cross the Canada–U.S. border daily

Source: http://can-am.gc.ca/can-am/index.aspx?lang=eng

Continue reading “48 Hours in Pittsburgh with the Consulate General of Canada”

PA Standing at the Ready: Creating Proactive Strategies for Potential Changes in Defense Spending

PA-Defense-ManufacturingDefense Department budgets are in flux. Factors such as the Budget Control Act, reductions or shifts in spending related to the drawdowns in Iraq and Afghanistan and responses to future threats could all create significant economic disruptions for Pennsylvania’s defense industry sectors and the regions they call home.  The state’s defense industry leaders and the communities that support them cannot afford to risk being caught unprepared by waiting for news of budget changes and then reacting to them.  Instead, it is imperative that the sector understands potential risks and prepares for them proactively.   Continue reading “PA Standing at the Ready: Creating Proactive Strategies for Potential Changes in Defense Spending”

National EPA Water Technology Innovation Cluster Leaders Meeting Held in April

WEN-EPA-Water-ClusterOn April 27, Fourth Economy market opportunity client The Water Economy Network (WEN) collaborated with the Environmental Protection Agency (EPA) to cohost the National EPA Water Technology Innovation Cluster Leaders Meeting, at Pittsburgh’s Omni William Penn Hotel.  Continue reading “National EPA Water Technology Innovation Cluster Leaders Meeting Held in April”

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?!”

The Launch of Innovate H2O

Innovate-H2ONew ideas fuel the fourth economy.  But they need the right talent, money and a market ready to greet them.  There are few market opportunities that need new ideas and innovation than those within the water sector.  In 2012, Fourth Economy helped to launch the Water Economy Network (WEN).  A key goal for WEN and its industry members is to encourage new water related technology development and deployment.  To help WEN achieve that goal, Fourth Economy and WEN joined with Idea Foundry (a Pittsburgh-based non-profit that specializes in innovation acceleration and commercialization) to launch a water technology acceleration program called Innovate H2O. Innovate H2O is a program aimed at identifying and accelerating breakthrough solutions that address global water challenges. Continue reading “The Launch of Innovate H2O”

Declining Higher Ed R&D Expenditures: A Crisis or an Opportunity?

131220-University-RD-BudgetA recent National Science Foundation (NSF) report revealed that R&D expenditures among U.S. higher education institutions remained flat in FY2012 compared to FY2011, and, when adjusted for inflation, declined by 1.1 percent. “This represents the first constant-dollar decline since 1974 and ends a period of modest growth during FYs 2009–11, when R&D expenditures increased an average of 5% each year.”

While this statistic is newsworthy, it may not be as much of a crisis as it first seems. Continue reading “Declining Higher Ed R&D Expenditures: A Crisis or an Opportunity?”

Reflections on the Profession

131023-Economic-Development-ProfessionAfter a three-year hiatus, I returned to teaching Urban and Regional Economic Development at Carnegie Mellon this fall. The process of preparing for the course, and the act of engaging with twenty students who represent a new generation of economic development, has caused me to reconsider the state of the profession and where it is headed as well as what new trends are driving it.   I often joke that we are teaching them how to solve the problems of the last generation with tools and policies that will create the problems for their generation to solve.  I call it the full employment policy for economic development. Continue reading “Reflections on the Profession”

School Days in the Fourth Economy

131023-Higher-EducationIt seems to be college and university season in the Fourth Economy Consulting offices. We have recently welcomed two new staffers to our team with strong roots in working with higher education. In the past few weeks Ali Mabel joined our team as Director of Innovation Strategies. Ali comes to us by way of the University of Illinois where she was Program Coordinator at the Research Park. Prior to that she managed client engagements for Ernst and Young supporting finance and supply chain processes. This mix of private and university experience is a terrific fit with the rest of the team’s skill sets.

Shortly before that Susan Fisher  joined us as a Research Analyst and brings to our team  her expertise in linear cash flow analysis and her extensive experience conducting complex quantitative and qualitative research, analysis and reporting to health care and higher education projects. Susan adds a depth to our research capabilities that we were looking for and now makes our research capabilities unrivaled in our market. Continue reading “School Days in the Fourth Economy”