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Leveraging Knowledge Assets for Wealth Creation

Leveraging Knowledge Assets for Wealth Creation. Alan W. Seadler Ph.D. Associate Academic Vice President –Research Duquesne University. University roles in economic development. Porter, M. (2007) Forum Futures. Employer Purchaser Real Estate Developer Workforce Developer

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Leveraging Knowledge Assets for Wealth Creation

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  1. Leveraging Knowledge Assets for Wealth Creation Alan W. Seadler Ph.D. Associate Academic Vice President –Research Duquesne University

  2. University roles in economic development Porter, M. (2007) Forum Futures Employer Purchaser Real Estate Developer Workforce Developer Advisor and Network Builder Technology Transformer and Incubator

  3. University of Pittsburgh 2009 “……Pittsburgh's edsand meds account for more than $11 billion in local salaries, 22 percent of the total salaries in the region.”

  4. University of Pittsburgh 2009 They've also spun off hundreds of companies in the last 15 years, driving Pittsburgh's technology boom. Since 2000, Pitt research alone has resulted in 373 new patents, 628 new license agreements, and 67 new companies.

  5. Technology Transfer University of Pittsburgh, CMU, Duquesne

  6. Economic Development Initiatives • Technology Based Economic Development • Ben Franklin – Innovation Works • Seed Capital • Entrepreneurial Support • Greenhouse Initiative • Digital Greenhouse • Life Sciences Greenhouse

  7. Leading Edge Technology Industry Space/Infrastructure People Capital Opportunity Fund UniversityFacilities EntrepreneurialTraining Recruiting Services Executive Corps Industry Participation Image and Marketing Outreach Workforce Development Startup Company Existing Companies University/Research Incubator/Accelerator Pre-Seed/Seed Fund University Development Fund SBIR Services University/Industry Research Partnership Fund Expeditor Leasehold Improvements Fund

  8. Keystone Innovation Zone Leverage university technology transfer Leverage university intellectual power and assets Anchor zones around research universities Marketable tax credits Business support Innovation funding Internships Facilities

  9. AGH CCAC Hill House Association Point Park University Carlow University UPMC HealthPlan Duquesne University UPMC/Mercy Hospital PCKIZ

  10. PCKIZ • 40 companies • Internships • Tax Credits • Second highest amount in the Commonwealth • Marketable • Business support • SBDC • Location assistance • Uptown

  11. The Pittsburgh region is as well-positioned competitively as we have been in a generation. Our economy is diverse, our workforce skilled, and our quality of life high. Dennis Yablonsky CEO Allegheny Conference

  12. Harold Miller 2010 “According to the U.S. Census Bureau, the Pittsburgh Region has the highest rate of poverty among working-age African Americans of any of the 40 largest metropolitan regions in the country. More than 1/4 (28%) of the region’s African Americans aged 18-64 lived in poverty in 2008. That’s twice as high as in regions such as Baltimore and Charlotte”

  13. American Communities Study US Census Bureau 2010

  14. City of Pittsburgh 2010

  15. City of Pittsburgh 2010

  16. Evergreen Cooperative Initiative • Catalyze creation of up to 10 for-profit cooperatives • 500 jobs • $65,000 equity per employee in 8 years • Located in University Circle area of Cleveland • Creation of a $3 million Evergreen Cooperative Development Fund • Revolving loan fund

  17. Evergreen Cooperative Initiative • Cleveland Clinic, Case Western Reserve University, University Hospitals, Cleveland Foundation • Democracy Collaborative • Ted Howard

  18. Evergreen Cooperative Laundry Started 2009 Green laundry 10-12 million pounds of health care linen per year capacity 50 employees James Anderson CEO

  19. Ohio Solar Cooperative Started in 2009 Ohio Cooperative Solar owns and/or installs PV solar panel arrays on institutional, government, and commercial buildings.   Owns, Installs, and maintains large-scale solar panels and sells the electricity generated at a negotiated rate over a 15 yr period. Will employ 75 residents Stephen Kiel, President

  20. Green City Growers Will start Fall 2012 Greenhouse with 3.25 acres under glass Produce ~3 million heads of lettuce per year and several hundred pounds of herbs. Will employ 35 people

  21. Pittsburgh Wealth Building Initiative Duquesne University Carlow University Point Park University Community College of Allegheny County UPMC Mercy UPMC HealthPlan PNC Bank Pittsburgh Penguins Hill House Uptown Partners Oakland planning and Development Corporation

  22. PWBI objectives Understand the purchasing of anchor institutions Develop a “Pittsburgh Cooperative Strategy” Develop a list of candidate opportunities Define start-up requirements and capital needs Start Cooperatives in neighborhoods.

  23. PWBI timeline Kick-off April 2012 Initial funding in place Democracy Collaborative engaged PWBI Project Manager hired Survey to start May 2012 Study complete, initial candidates December 2012

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