After a 10 day trip to China and Korea, Mayor Luke Ravenstahl called the trip a success and said it was laid the groundwork for attracting new businesses to settle in the region.
The mayor went with a delegation that included Dennis Yablonsky, CEO of the Allegheny Conference and Joe McGrath, CEO of Visit Pittsburgh.
Yablonsky said the trip was a success. The delegation met with companies they were already courting and with new companies. The companies are in the sectors the region is trying to grow: advanced manufacturing, financial services, energy, life sciences, health care and information and communication technology.
Yablonsky credits the G-20 Conference, held in Pittsburgh in September of 2009, for bringing attention to the "transformation" of the region. Ravenstahl said the G-20 summit "put Pittsburgh back into the global game." He said the trip did not cost taxpayers anything. He said he was not sure who paid for the trip.
The next step is for the companies to visit Pittsburgh and see all that the city has to offer.
Showing posts with label Visit Pittsburgh. Show all posts
Showing posts with label Visit Pittsburgh. Show all posts
Monday, October 18, 2010
Thursday, June 17, 2010
S.E.A. Expects Deficit for Convention Center
Low attendance and less visitor spending are causing Pittsburgh’s David L. Lawrence Convention Center to operate at a deficit in 2010.
The city-county Sports & Exhibition Authority is expected to post a $409,631 operating deficit for the convention center by the end of the year. The SEA runs the center and would need to pay for that loss with its reserves.
Visit Pittsburgh President Joe McGrath says corporations are sending fewer people to conventions and cutting down on hospitality once they get there.
But McGrath says it could be worse for Pittsburgh – it is in many other cities.
“We have fared very well in this economy compared to virtually any destination in America. In 2009, in fact, for hotel occupancy, maintenance, and rate we were in the top 10% of the nation, so we have done extremely well as a destination selling in hard times.”
McGrath says the 2010 deficit isn’t likely to shrink because conventions are planned well in advance, but the convention center’s fortunes could change in the next few years.
The city-county Sports & Exhibition Authority is expected to post a $409,631 operating deficit for the convention center by the end of the year. The SEA runs the center and would need to pay for that loss with its reserves.
Visit Pittsburgh President Joe McGrath says corporations are sending fewer people to conventions and cutting down on hospitality once they get there.
But McGrath says it could be worse for Pittsburgh – it is in many other cities.
“We have fared very well in this economy compared to virtually any destination in America. In 2009, in fact, for hotel occupancy, maintenance, and rate we were in the top 10% of the nation, so we have done extremely well as a destination selling in hard times.”
McGrath says the 2010 deficit isn’t likely to shrink because conventions are planned well in advance, but the convention center’s fortunes could change in the next few years.
Wednesday, November 25, 2009
Allegheny Institute Doubts G20's Economic Impact
The Allegheny Institute says it does not think as much money was left in Pittsburgh during the G20 as some have estimated. The conservative think tank has released a policy brief regarding VisitPittsburgh's claims of a $35 million economic benefit to the the Pittsburgh region as a result of the G20 economic summit. The Allegheny Institute claims that the projection is unreasonable. The group looked at two indicators of economic impact for the region. They looked at RAD (Regional Asset District) revenues and hotel tax revenues. According to the policy brief RAD revenues were down in September of 2009 as compared to 2008, but hotel tax revenues increased by $600,000 representing an additional $8.5 million in hotel spending. Allegheny Institute senior research associate Frank Gamrat says the picture is incomplete because they were only able to analyze two sources but he believes the $35 million impact projection is still unreasonable because of the difficulty in quantifying the actual impact to the region.
Visit Pittsburgh has released a written response saying in part; "The Allegheny Institute fails to note that most of the 33 delegations associated with the Pittsburgh Summit were exempt from paying any taxes. These delegations represented over 3,500 attendees. In addition, security forces were also exempt from paying taxes. Used as the cornerstone for the Allegheny Institute’s faulty analysis, tax collections in this case are not a meaningful measurement of direct spending relating to the Pittsburgh Summit." "VisitPittsburgh stands behinds our estimate of $35 million in direct spending as a result of the Pittsburgh Summit."
Visit Pittsburgh has released a written response saying in part; "The Allegheny Institute fails to note that most of the 33 delegations associated with the Pittsburgh Summit were exempt from paying any taxes. These delegations represented over 3,500 attendees. In addition, security forces were also exempt from paying taxes. Used as the cornerstone for the Allegheny Institute’s faulty analysis, tax collections in this case are not a meaningful measurement of direct spending relating to the Pittsburgh Summit." "VisitPittsburgh stands behinds our estimate of $35 million in direct spending as a result of the Pittsburgh Summit."
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