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Pittsburgh Business Times
EPA grant the second-biggest federal investment for PA
Gov. Josh Shapiro called Monday’s announcement of $396 million in Environmental Protection Agency funding to help decarbonize Pennsylvania’s industrial sector the second-largest federal investment in the commonwealth’s history.<\p> The money, which will be distributed to shovel-ready industrial plants in southwestern Pennsylvania and across the state, is part of $4.3 billion in Climate Pollution Reduction Grants announced Monday by the EPA and highlighted in a visit to Castle Builders Supply & Trucking and Lindy Paving by Shapiro and EPA Administrator Michael S. Regan.<\p>
Why Cliffs, United Steelworkers never lost hope for Weirton plant
In the months after the crushing blow of an idling of a tinplate plant in the center of Weirton, West Virginia, the idea of finding more work continued to be top of mind for Cleveland-Cliffs CEO Lourenco Goncalves, his executive team and local and international representatives from the United Steelworkers.<\p> What was clear was, thanks to a changing market and a trade ruling against Cliffs, that Weirton wasn’t going to be making tinplate anymore.<\p>
Carnegie Museum of Natural History gets Bayer Fund grant
Carnegie Museum of Natural History announced that it received a grant for $25,000 from Bayer Fund. This grant will support learning experiences for over 2,000 people during the next school year within the museum and classrooms led by museum teachers.<\p> “We are thrilled to have financial support from Bayer Fund to help increase access to new museum programs that integrate environmental literacy and sustainability with STEM education,” Laurie Giarratani, director of learning and community, said in a release.<\p>
The Advanced Leadership Institute graduates 2024 ELA cohort (photos)
On Friday, July 19, The Advanced Leadership Institution celebrated the graduation of its 2024 cohort for its flagship program, the Executive Leadership Academy. <\p> TALI held the graduation ceremony at Carnegie Mellon University's Tepper School of Business, which partners with TALI on the program. This year's class was made up of 21 participants from local companies. <\p>
Local AI company details plans for $300M investment
Backed by Jeff Bezos and several notable venture capital firms, Skild AI is building a brain for robots.<\p> The technical term is Artificial General Intelligence, commonly referred to in shorthand as AGI and agreed by experts to be an AI system equally as smart as a human. What experts don't agree on is how, when, or even if this technology can be achieved.<\p>
Personalities of Pittsburgh: Jada Shirriel, Healthy Start Pittsburgh
Jada Shirriel is CEO of Healthy Start Pittsburgh, a Pittsburgh nonprofit whose mission is to reduce mortality among Black women and infants, a role it has been playing in Allegheny County for more than 30 years. The organization has 73 employees and a $7 million annual budget and is involved not only in day-to-day care, but also policy work and research to get at the larger reasons why Pittsburgh is one of the most dangerous cities in the United States for pregnant Black women. A 2019 Gender Equity Commission report by University of Pittsburgh researchers titled “Pittsburgh’s Inequality Across Gender...
Morgan Properties buys apartment complex in Allison Park for $28M
Morgan Properties, the Conshohocken-based multifamily investor that scooped up more than 2,600 apartments in the region nearly four years ago building up a 15,000-unit national portfolio, has added to it holdings in western Pennsylvania.<\p> The company is the new owner of the Presidential Arms, a 460-unit apartment complex in Allison Park, that it bought in an 11-property portfolio deal from DePaul Management Co. <\p>
Here's a first look at the new apartments at the Triangle Building
The Triangle Building has a new look.<\p> First established in 1885, the building, located at 705 Smithfield St. in downtown's Cultural District, has recently undergone a significant redevelopment, now offering apartments and retail space.<\p>
IRS ERC moratorium could cost the agency billions
Efforts by the Internal Revenue Service to crack down on Employee Retention Credit fraud could cost the agency billions of dollars in interest payments.<\p> The IRS in an announcement in June said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023. Through that analysis, it found that between 60% and 70% of the applications showed an unacceptable level of risk.<\p>
Cleveland-Cliffs to reopen idled steel plant
Cleveland-Cliffs Inc. on Monday announced it would open a state-of-the-art plant to build electrical distribution transformers at an idled steel plant in Weirton, West Virginia.<\p> The news comes months after the plant, which made tinplate, closed after an unfavorable trade ruling and left about 600 United Steelworkers employees out of jobs. It fulfills a promise by Cliffs CEO Lourenco Goncalves to try to get the plant going again. The new operations will be centered in its Half Moon Warehouse in Weirton, not in the plant itself.<\p>
Pennsylvania to receive $396M to clean up industrial emissions
Pennsylvania is expected to receive nearly $400 million from Inflation Reduction Act funds for a wide range of industrial greenhouse gas initiatives in the commonwealth.<\p> The Environmental Protection Agency on Monday announced 25 projects in 30 states that have been selected for Climate Pollution Reduction Grants. Pennsylvania's $396 million share of the $4.3 billion will go to the Pennsylvania Department of Environmental Protection to fund what the application said are small, midsize and large-scale industrial decarbonization projects. The program is called the Reducing Industrial Sector Emissions in Pennsylvania (RISE PA).<\p>
Eat'n Park CEO joins board of big Pittsburgh bank
Dollar Bank on. Monday announced the newest member of its board of directors. Jeffrey Broadhurst, chair and CEO of Eat'n Park Hospitality Group, has been named to the board of Pittsburgh's 6th-largest bank.<\p> “We are pleased to welcome such an inspirational and well-respected executive in our community to the Dollar Bank board,” Jim McQuade, Dollar president and CEO, said in a prepared statement. “Jeff brings a wealth of experience that will be of immeasurable value as we continue to drive our mission and impact the communities we serve.”<\p>
EQT closes acquisition of Equitrans
EQT Corp. on Monday announced the official acquisition of Equitrans Midstream Corp., the pipeline company based in Canonsburg that had spun out of EQT in 2018.<\p> The all-stock transaction is worth about $5.4 billion, with shareholders in Equitrans (NYSE: ETRN) receiving 0.3504 shares of stock in EQT (NYSE: EQT) for each share of Equitrans. The deal was expected to close in the fourth quarter but instead closed Monday, saving what EQT CEO Toby Z. Rice said was $150 million.<\p>
Here's who hired former Pittsburgh leader of Northwest, Fifth Third
Mystery solved. Julie Fallon Hughes, previously the top executive at two different banks in Pittsburgh, most recently Northwest Bank, is joining Adams Community Bank as president and CEO, succeeding its longtime leader who is retiring. <\p> Community Bancorp of the Berkshires, parent of 10-branch Adams, has officially announced that Hughes has been hired. The post returns Hughes to her home state of Massachusetts; she is a native of Winchester. <\p>
Pittsburgh International Airport flies past prepandemic levels
The Allegheny County Airport Authority has long been comparing its passenger traffic to 2019, the year before the pandemic put a halt to most business and leisure travel worldwide. Now, that’s coming to an end, and spectacularly.<\p> Passenger traffic at Pittsburgh International Airport rose to 108% of 2019 levels for the month of June, according to Allegheny County Airport Authority statistics released Friday. That meant 70,000 more passengers went through the airport in June than the 900,800 that had been through in June 2019. Passenger traffic — people on scheduled air service either flying to or from Pittsburgh International Airport — was up 13.8% from June 2023 as well.<\p>
Nippon Steel hires ex-secretary of state to help seal U.S. Steel deal
Nippon Steel Corp. has hired a former secretary of state during the Trump administration to help it close the deal to acquire United States Steel Corp.<\p> Mike Pompeo will advise Nippon Steel on strategy in its $14.9 billion acquisition of the Pittsburgh-based steelmaker, a deal that was announced Dec. 18 and the subject of stiff opposition from the United Steelworkers, President Joe Biden, former President Donald Trump and a bipartisan group of lawmakers in Pennsylvania, Ohio and elsewhere. Ohio Sen. JD Vance, who was confirmed as Trump's running mate in his third straight GOP nomination for president, is also in opposition.<\p>
Dentons Cohen & Grigsby on what's next after expansion program ends
The largest law firm in the world has discontinued an initiative launched in 2020 to assemble a network of U.S. offices that provided big law capabilities and international reach to secondary and under-served markets. <\p> At Pittsburgh's fourth-biggest law firm, part of Dentons' Golden Spike program from the get-go, it's business as usual. Dentons Cohen & Grigby said it grew on multiple levels and enjoys more resources.<\p>
Watt Geer's Viewpoint: Act now to improve housing stability in Pa.
On June 28, the U.S. Supreme Court issued an opinion in City of Grants Pass, Oregon v. Johnson, upholding local ordinances that ban people experiencing homelessness from sleeping and camping in public places. Under this rule, localities will be able to arrest, ticket and fine people for sleeping outdoors on public property, even when there is inadequate access to affordable housing or shelter for all who need it.<\p> We are concerned about the impact of the Grants Pass decision due to the lack of available resources, support and services for people who are experiencing homelessness or at risk of losing their homes. Despite our efforts to address housing insecurity, we know that it continues to be a real and growing problem across our region and the nation.<\p>
Allegheny County Airport Authority OKs $120M for capital projects
The Allegheny County Airport Authority Board on Friday approved $120 million for additional capital projects at Pittsburgh International Airport.<\p> The projects are in addition to, although in some cases adjacent, the $1.5 billion airside terminal that is being constructed and will open sometime in 2025. The projects will pull forward some projects, like around the airfield terminal and fueling center, and work on modifying the existing parking lots and on a switchgear electrical system. Airport authority officials said they are not directly related to the new terminal, but the authority would benefit from the work being done concurrently in many cases.<\p>
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