Now Leasing Office Space

Office space is a hard thing to come by in Pittsburgh these days. In fact, we have one of the lowest office vacancy rates in the U.S. right now according to a recent study by Avison Young. With the tech and other industries making more and more headway in the 'steel city', demand for office space has risen. However, that doesn't mean that it is impossible to find an office for your business within the city.

We are now leasing office space at our RCI location on the Northshore. If you aren't familiar with us yet, here is a brief overview of Riverside Center for Innovation (RCI) and how we act as a business incubator in the region.

"RCI works to create a healthy environment for the region’s entrepreneurs and small businesses to prosper by providing incubation support, training, innovation strategies, and brownfield development."

Some of our graduate tenants include companies like: WebKite, BusinessWise, LLC, YourTalentsAgents, McGuire Anderson and HeadRightGames.

If you'd like more information about leasing space at RCI, then feel free to visit our website or give us a call at 412-322-3523.

Pittsburgh Listed in the U.S. Top 25 Metro GDPs

Pittsburgh has been named the 23rd U.S. metro area with the highest gross domestic product (GDP), according to the latest report from the Bureau of Economic Analysis. The report lists Pittsburgh's GDP at $131.265 billion in 2013, a 3.3% increase from 2012. Since 2001, the city's economy has been growing pretty steadily overall. The rising rank could signal a growing business climate in the region. The Pittsburgh Business Times', Paul J. Gough, weighed in on the report saying:

The gross domestic product, also known as the gross national product, is the dollar amount of all goods and services within a national border. The Pittsburgh region's share of the GDP has been growing steadily from $88.75 billion in 2001 until the most recent figures. It only declined one year, in 2009, due to the impact of the recession.

But the region lags when it comes to change since 2010, according to a Buffalo Business First analysis of the federal data. It's 12.6 percent growth since 2010 puts it only at No. 124 in terms of three-year change.

Pittsburgh's GDP is higher than any other metro region in Pennsylvania except Philadelphia (No. 8, $383.4 billion). It's ahead of neighboring big cities including Columbus, Ohio (No. 30, $114.25 billion), Cleveland (No. 26, $122.88 billion) and Buffalo, N.Y. ($51.63 billion, No. 56).

The largest part of Pittsburgh's GDP is in the financial category, which contributed $24.735 billion in 2013, up slightly from 2012. That includes finance, insurance, real estate, rental and leasing activity. Professional and business services were the second highest at $21.189 billion.

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Is Pittsburgh the Future of Tech?

Pittsburgh used to be known as the city of steel, but in recent years, it has been more commonly associated with something else-technology. Technology startups and the entrepreneurs that fuel them are being mentioned more frequently in media and the business world. In a recent Forbes article, the Young Entrepreneur Council pointed to Pittsburgh's renaissance as a source of learning for entrepreneurs. From Steve Case's Rise of the Rest Tour to Peduto's tech roundtables, Pittsburgh is getting some major attention from both the tech industry and the entrepreneur community. Just this week, tech leaders gathered in Pittsburgh at the Thrival Festival and discussed, "what's next for tech?" Here's what they had to say:

Hardware and software coming together. Women. CEO-level talent. More venture capital.

These are some of the things that will make Pittsburgh's tech future, according to a group of local entrepreneurs who gathered on Thursday night at AlphaLab Gear to talk about technology in Pittsburgh and how it will transform the city.

Dennis Yablonsky, chief executive officer of the Allegheny Conference on Community Development, moderated the event.

Yablonsky said there are two things he thinks will solidify Pittsburgh as a tech hub. One is local venture capital. There's not enough, he said, and when Pittsburgh companies are funded from the outside, he believes they tend to leave. 

“If the lead investor is in Pittsburgh, the company will stay in Pittsburgh,” he said. 

Yablonsky said the area also needs more executive talent and a great source is “boomerangers” like him, people who left the city in their youth, and now, because of a low cost of living and opportunities to succeed, see the right reason to return.

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What are your thoughts? Can Pittsburgh really be the future hot spot for technology?

Are Collaborative Workspaces Good for Startups?

A newer trend in office design has been to create either open or collaborative workspaces. Collaborative workspaces are offices design to emit a free-flowing and sharing environment. Sometimes they are reserved to one company and other places may be a central hub for a group of like-minded professionals to gather and do work together. Some of the benefits listed in favor of collaborative workspaces is that is foster collaboration and productivity. On the other hand, they are also criticized for impeding productivity with noise and chatter. What do you think about collaborative workspaces? 

A recent Forbes article had a few thoughts for them:

There’s more to innovation than finding clever people and throwing them into a conference room in hopes that game-changing collaboration will follow. Today, to drive innovation and attract the best talent, it’s crucial to create workspaces that cater to diverse forms of collaboration.

In the same article, writer Sarah Miller listed four collaborative office qualities and how they foster innovation and teamwork.

- Space that is flexible: Workspace that is movable and reconfigurable supports spontaneity. Flexibility can come in the form of mobile furnishings, roving white boards, or even architectural elements like sculpture that allow users to configure the space to their immediate needs. Example: Google. 

- Space that inspires: Natural lighting and exterior views stimulate and sustain creative thinking. One factor linked to innovation edge is an ability to imagine and visualize the future. Spaces that contain fantastical images and access to technology tools help employees construct new scenarios for markets, products, and services are key in this endeavor. Example: Facebook. 

- Space for small teams: The best collaborative work is done by teams of 2 – 8 people. Cozy spaces located near an individual’s dedicated work area are ideal for small team gatherings, and encourage frequent use. These spaces need to offer full connectivity, too. Example: Groupon

- Space that reflects culture and brand: In a global economy, recalling that the work you’re doing in one geography impacts customers in other geographies is paramount. Connecting employee efforts to pride in past success creates engagement and a willingness to drive future change. Displays of existing products or collective achievements also inspires pride and risk-taking. Read the full article here.

In Pittsburgh, there are a few collaborative workspaces that are not central to a particular company. One of those is called The Hardware Store, a co-working office space where professionals can work with other professionals. The group is holding a Fall Picnic and Pitch Fest at its headquarters on September 18 that entrepreneurs may want to check out.