Monday, August 3, 2009
Eds & Meds Powerhouses
The success of the Pittsburgh region’s economy, even in the face of the worldwide downturn, has largely and correctly been attributed to the strength of Pittsburgh’s powerful education and medical sector.
The “eds and meds” factor accounts for more than $11 billion in local salaries — 22 percent of the total salaries in the region.
Most powerful of the eds and meds are Carnegie Mellon University, the University of Pittsburgh, and the University of Pittsburgh Medical Center (UPMC.) The combination of two of the nation’s research universities and one of its largest and most respected medical complexes forms a dynamic economic engine that has driven the economy to new heights, pumping many billions of dollars into the regional economy each year, including the employment of nearly 80,000.
The extraordinary extent to which these three powerhouses are engaged in key collaborative ventures has propelled Pittsburgh’s ongoing revival with groundbreaking research in technology and medicine, job creation, and incubation of new technology businesses. There are more than 400 collaborations between Carnegie Mellon and the University of Pittsburgh alone.
On targeted projects, Carnegie Mellon, Pitt, and UPMC jointly pursue funding, share resources, and bring together an array of scientists and other experts to tackle global problems.
Their pioneering entrepreneurial initiatives — in medicine, biosecurity, computational biology, tissue engineering, education, supercomputing, information technology, robotics, disabilities and aging, cognition, and more — bring more than a billion dollars in research support to the region annually and continue to generate enduring global benefits. Their work has also created a number of spin-off companies, adding thousands of jobs and most importantly, new ideas and new industries such as robotics and biotechnology to the region.