The
characteristic shape of the city's downtown is a
triangular tract carved by the confluence of the
Allegheny and Monongahela rivers, where the Ohio
River forms. The city features 151 high-rise buildings,
446 bridges, two inclined railways, and a pre-revolutionary
fortification. Pittsburgh is known colloquially
as "The City of Bridges" and "The
Steel City" for its many bridges and former
steel manufacturing base.
While the city is historically known for its steel
industry, today its economy is largely based on
healthcare, education, technology, robotics, and
financial services. The region is also becoming
a hub for oil and natural gas companies' Marcellus
Shale production. The city has redeveloped abandoned
industrial sites with new housing, shopping and
offices, such as the Waterfront and the SouthSide
Works. While Pittsburgh faced economic troubles
in the 1980s as the steel industry waned, modern
Pittsburgh is economically strong. The housing market
is relatively stable despite a national subprime
mortgage crisis, and Pittsburgh added jobs in 2008
even as the national economy entered a significant
jobs recession. This positive economic trend is
in contrast to the 1980s, when Pittsburgh lost its
manufacturing base in steel and electronics, and
corporate jobs in the oil (Gulf Oil), electronics
(Westinghouse), chemical (Koppers) and defense (Rockwell
International) industries. The city is also headquarters
to major global financial institutions PNC Financial
Services (the nation's fifth largest bank), Federated
Investors and the regional headquarters of BNY Mellon,
descended from Mellon Financial and the Mellon family.
Major publications often note Pittsburgh's high
livability compared to other American cities:
FORBES.COM
America's
Most Affordable Cities
Pittsburgh
ranks #2
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ARTICLE
CNNMONEY.COM
Housing Markets Best Recovery
Bets
Pittsburgh ranks #5
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ARTICLE
FORBES.COM
Best
Place To Buy
A Home!
Pittsburgh
ranks#1
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ARTICLE
CNNMONEY.COM
FRANKLIN PARK
featured as one of
the
"6-FIGURE TOWNS"
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ARTICLE
