• Hamilton EconomyHamilton Economy – Similarities to Pittsburgh

    Although I went to Pittsburgh this weekend to watch the football game, it was not hard to compare their Steel City to our Steel City; Hamilton. Besides also being along water, they also have hills, they based on industry and their professional football teams wear the black and yellow.

    My first impressions were very positive. It was clear and that it had lots of parks and greenspace. I decided to research how Pittsburgh transformed its economic change to see if the Hamilton economy might be headed in the same direction:

    • Not unlike the Hamilton economy, Pittsburgh had 90,000 steel workers. Now it has closer to 12,000.
    • Steel jobs are now scattered among 320 specialized fields [high wage jobs]
    • The have transformed to to a global economy. They have over 100 multi-billion dollar global companies which are headquartered or having major base. Some examples are Google, ATI and Allegheny Technologies
    • Pittsburgh is the birthplace of the first air quality legislation and the Nations first water treatment facility
    • Pittsburgh based PNC Financial Services operates their buildings with more green square footage than any other corporation in America

    It has become a major R&D and health centre thanks to an intense investment from the University of Pittsburgh and Carnegie Mellon University.

    Pittsburgh avoided the real estate bubble in America. In fact property values continue to rise.

    I was born, raised, educated, worked and lived in Hamilton my whole life. I am very proud of this City. Watching Pittsburgh have the foresight and investment to transform the City of Steel to a Metropolitan area makes me wonder if the Hamilton economy will follow suit. Like the Hamilton economy, Pittsburgh was known for steel. Now it’s known for high tech, green technology, R&D and culture. I realize there is no reason why we can’t do it. I love Hamilton, it has been good to me. I am hoping it will be great for my kids and yours.

    Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

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