Two things happened Wednesday in Pittsburgh and both have something important in common. First, there’s Ken Griffin’s spectacular gift of $3 million to Carnegie Mellon University. Getting the largest individual donation in the history of higher education is a big win for Pittsburgh’s global prestige.
Griffin, one of the nation’s most successful hedge fund chiefs, knows how to grow investments. CMU is a good fit for $1 billion of his donation because it is a hub of growth in computing science and robotics.
Carnegie Mellon has launched more than 400 startups in the last decade, making the university an engine of economic growth. And $2 billion of the gift will create a new campus in South Florida to be called CMU Miami.
More growth!
Second, the city’s mayor released a preliminary spending plan. A 2027 deficit will be offset by a withdrawal from the rainy day fund and the budget will be balanced.
But Corey O’Connor has said one way the city can address its delicate financial condition is… growth!
And the new mayor is taking steps to make it easier for developers to start projects and is also forming ties with non-profits.
Those are good first steps and we hope to see bold new proposals for more growth opportunities.
