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.
Much attention has been paid to Pittsburgh’s burgeoning cohort of tech startups — but, more broadly, how is the climate for startup businesses in Pittsburgh, and what does it indicate about our city’s entrepreneurial culture? The Kauffman Index is one of the most prominent rankings of entrepreneurship and startup activity. Its release is often used to measure how Pittsburgh is doing compared to other metropolitan areas–and how we’ve progressed over time.
The 2016 Kauffman Index shows that entrepreneurship in the Pittsburgh region continues to lag behind other major metropolitan areas. Pittsburgh ranks 40th in startup activity in 2016, unchanged from our 2015 ranking. However, our rate of new entrepreneurs slipped from 150 new firms per 100,000 adults in 2015 to just 120 in 2016. By way of comparison, Austin, which ranked first in 2015 and 2016, saw its rate of new entrepreneurs go from 550 per 100,000 in 2015 to 600 in 2016. This means that Austin generated five times as many new firms per 100,000 adults as Pittsburgh did last year. Continue reading “Checking Up on the Health of Pittsburgh’s Startup Economy”
Having personally conducted and written more than 75 comprehensive economic impact studies using linear cash flow models for higher education and health care clients over my 16+ year career, I thought it would be interesting to look more closely at how the focus of economic impact reports has changed over the years. Continue reading “What’s New in Economic Impact”