University of Pittsburgh
February 2, 2015

Pitt Institute Hosts Event on the State of the Local Economy


Joe Miksch


Cell: 412-997-0314

PITTSBURGH—The University of Pittsburgh’s Institute for Entrepreneurial Excellence will present lectures on the region’s financial climate at a Feb. 4 event titled “The State of the Pittsburgh Economy.”

The event, which is free and open to the public, will be held from 7:30 a.m. to 10:30 a.m. at the Wyndham Grand Pittsburgh Hotel, 600 Commonwealth Pl., Downtown. Reservations are required; contact Tara Gerek at to attend.

Pitt Chancellor Patrick Gallagher will deliver introductory remarks. Subsequently, PNC Bank Chairman Bill Demchak and PNC Bank Vice President and Senior Macroeconomist Augustine Faucher will address pivotal issues affecting area entrepreneurs such as technology and innovation, energy, cyber security, and workforce development. The speakers are expected to address critical topics such as the outlook for small and midsized businesses in regards to credit and capital access, the effect of the decline in oil prices on the economy, top strategies to protect businesses from the infiltration of financial systems, and the retention and attraction of high-performing employees.

“We’re extremely fortunate and excited to provide participants with an opportunity to receive invaluable insights from influential business and thought leaders,” said Bob Stein, interim director of the Institute for Entrepreneurial Excellence. “This dynamic event is one of the ways in which the institute is working to increase collaboration within the university and business communities and further impact our regional economy.”

Chancellor Gallagher was appointed Pitt’s chancellor and chief executive officer on Aug. 1 after most recently serving as acting deputy secretary of the U.S. Department of Commerce and director of the National Institute of Standards and Technology.

Demchak joined PNC in 2002 as chief financial officer and was named president in 2012, chief executive officer in 2013, and chairman in 2014.

Faucher, who joined PNC in 2011, worked for 10 years at Moody’s Analytics and is frequently cited in international, national, and regional media outlets.

About the Institute for Entrepreneurial Excellence
The Institute for Entrepreneurial Excellence is a part of Pitt’s Innovation Institute, which seeks to advance Pitt’s successes in entrepreneurship, commercialization, and economic development. It offers small businesses a dynamic mix of consulting, education, and networking resources and strives to be an innovative leader in connecting people, organizations, and resources in Southwestern Pennsylvania. In 2014, the institute served 703 clients with 7,000 hours of consulting, assisted 63 clients in starting or purchasing a business, helped secure nearly $14 million in loans or investments, and conducted 1,315 hours of specialized training for 1,504 individuals.