|Contact:||Amie M. Downs, County|
PITTSBURGH – County Executive Rich Fitzgerald today hailed our area’s ranking as one of “Ten American Comeback Cities” by Forbes.com.
“This is more great news for Allegheny County and further proof that our hard work to create a diverse economy in which businesses and entrepreneurs may thrive is paying off,” said Fitzgerald. “Out of the nation’s 100 biggest labor markets, ours is one of only 13 that have regained all of the jobs they lost during the Great Recession.”
According to Forbes.com, 2009 was “a turnaround year for Allegheny County, Pa., home to Pittsburgh. The area struggled after the closure of large steel plants in the 1980s, and Pittsburgh’s population fell by more than half in the decades after 1950 – largely the result of out-migration to suburbs and to more robust economies in the West. As recently as 2005, Allegheny County lost nearly 10,000 members of taxpaying households, according to IRS data. But in 2009, the losses turned to gain: after several years of both growing in-migration and falling out-migration, more taxpayers moved to Allegheny County than moved out that year.”
Throughout the economic downturn, Allegheny County’s unemployment rate has consistently been two percentage points below the national average, and our foreclosure rate has been among the nation’s lowest.
“Statistics like this also led Time magazine to call our region the ‘one economic bright spot on Main Street’ in the midst of the recession,” added Fitzgerald. “But we are not going to rest on our laurels. We are going to continue to make Allegheny County’s economy stronger and more competitive.”
Pittsburgh was also named as one of the 20 “Best of the World” places to visit in 2012 by National Geographic Traveler magazine.
A version of the “Ten American Comeback Cities” article appears in the March 12, 2012 issue of Forbes Magazine.
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