During this unprecedented economic time we have found that Pittsburgh is far less negatively impacted than our peer cities.
Why? My thoughts are formulated based on several factors. Pittsburgh has rebuilt itself in post-steel industry times via a slow and conservative manner; we rebuilt a foundation of diverse business markets that are stable and of "real" assets and services. The national/global market crashes are primarily due to business models that hedged their success via nontangible assets and inflated growth projections.
Pittsburgh has built its economy on the opposite. Thus we enjoy the hard-earned reward of a more stable local economy. Our local businesses stayed fixed on hard products and services, which kept to our history of hard work and hands-on business management.
We have some amazing small businesses that are undervalued gems in their industry. They are our neighbors, the entrepreneurs who have put it all on the line and are growing their businesses via rolled-up sleeves and dedication.
I have seen firsthand national or global businesses being picked over local businesses providing the same products and services right here in our own back yard. This is not just a shame but a huge negative impact to our local economy. We all need to look at home first when looking for new vendors, products and services.
"Pittsburgh first" needs to be how we think, as by helping each other succeed we will continue to grow as a local economy and compound our continued success!
DENNIS K. GEARY
Pittsburgh Business Center