Home  |  Login  |  FAQ  |  Advertise  |  Services  |  Recommend  |  FeedBack  |  Contact Us  
Home
News

 Other Sections
ACN Ghana 2008
Sports
Finance
Business Directory
Online Forms
Real Estate
Classifieds
Auto
Jobs
Events
Downloads
World Cup 2010
Travel
About Ghana
Our Services
News Headlines
 More
Three keys to Pittsburgh's transformation: CMU president
News Date: 4th May 2013


Pittsburgh can serve as a model for the economic transformation in the United States, and there are three keys to its success, Jared Cohon, president of Carnegie Mellon University (CMU), told Xinhua in a recent interview.

30 YEARS OF TRANSFORMATION

"I think firstly we have to realize that it took a long time" for Pittsburgh to transform itself into a more diverse economy, said Cohon, the eighth president of the 113-year-old, well-known private research university in Pittsburgh, Pennsylvania.

"It took a lot of patience and hard work. Thirty years is a long time. It doesn't happen in overnight," added the 65-year-old president, who will step down on June 30.

Beginning in 1980s, Pittsburgh, a city that once was defined by the steel industry, has shifted its economic focus to health care, higher education, financial services and advanced technology. It is now seen as a successful industrial transformation legend for U.S. cities.

Today, it is hard for a visitor to identify Pittsburgh as a "Steel City" without the knowledge of its history, as the steel mills and heavy smog that once filled the streets have now mostly vanished.

Even the well-known U.S. Steel Tower, the tallest skyscraper in Pittsburgh and a major part of the city's identity, has been adorned with the logo of the University of Pittsburgh Medical Center, which has become the largest employer in the region.

THREE KEYS TO SUCCESS

Cohon listed three keys to Pittsburgh's success, with the first being the economic crisis Pittsburgh faced in the 1980s. It came very suddenly, led to huge job losses and brought people together.

Cohon said that Pittsburgh approximately lost 120,000 jobs from the steel industry from 1980 to 1982 as a result of the economic crisis. According to U.S. Census figures, Pittsburgh had about 420,000 residents in 1980.

"That was a real crisis. I think it's hard for people to respond. I think that brought people together," Cohon noted.

The second is Pittsburgh's ability to diversify the economy away from just manufacturing to include financial services, higher education, health care and ground transportation.

"The result is that we don't fall down as much as we used to when the international economy goes down. We also have grown up quickly," said Cohon.

Pittsburgh weathered the recent global financial crisis, which hit the world in 2008, with surprising resilience, as the housing market was relatively stable and job growth much better than other cities in the country.

It was one of the only three U.S. metros to be deemed "fully recovered from the Recession" by the Brookings Institution, a Washington-based think tank.

The third is that institutions of education, especially University of Pittsburgh and CMU, have been direct contributors to the economic development of the city and played a leading role in the transformation.

"The president of CMU before me played a very important role in helping lead the community to envision different economic futures for itself. And partnership between University of Pittsburgh and CMU is also important," said Cohon, who has led the university since 1997.


Source: GNA


 More
 Search News
 
 Advanced Search

ADVERTISEMENT
  Latest News Headlines
Boarding students to enjoy free SHS beginning August
EDUCO donates sports equipment to 20 schools
Journalists urged to respect code of ethics
Ghana and France have signed a new agreement for the teaching of French Accra, June 24th, 2016
Dialogue towards job security - Kofi Asamaoh urges
What are we doing to our Environment?
Ministry of Education donates buses to schools
Global Shea Alliance and USAID Partner for Industry Growth and Sustainability
Schools rejecting pupils for good grades at BECE
Government to commence exploration in Voltaian Basin
 More latest news
 Popular News Items
Second Lady supports women group with oil processing plant
New fishing centre established at Bortianor
EU ban on vegetables in force
Democracy is conducive to economic development - Kofi Annan
We respect Supreme Court's ruling - EC
Vodafone Ghana Celebrates High Value Customers on Father's Day
Assemblies urged to strengthen bye-law enforcement
NDC officially boycotts IEA debate
Probiotics key to a strong immune system
Ghana for Peace Campaign launched

Copyright BusinessGhana. All Rights Reserved.

Legal