Eds & Meds Thrive in Former Steel City
The success of the Pittsburgh region’s economy, even during the worldwide downturn of the last several years, can largely be attributed to the city’s powerful education and medical sector.
A discussion of how "eds and meds" are helping to transform Pittsburgh’s economy was held by Pitt Chancellor Mark A. Nordenberg, Carnegie Mellon University President Jared L. Cohon, and UPMC President and CEO Jeffrey A. Romoff during the G-20 Summit that Pittsburgh hosted in 2009. View a video of the discussion.
Pitt, UPMC, and Carnegie Mellon employ nearly 80,000 people and pump billions of dollars into the region’s economy annually. Together with Pittsburgh's other eds and meds institutions, they account for more than $11 billion in local salaries, 22 percent of the total salaries in the region.
They've also spun off hundreds of companies in the last 15 years, driving Pittsburgh's technology boom. Since 2000, Pitt research alone has resulted in 373 new patents, 628 new license agreements, and 67 new companies.