Standing before a backdrop of backhoes and cranes arrayed across Pittsburgh International Airport’s west ramp on Thursday, CEO Christina Cassotis made a bold declaration.
“Ninety years ago, Allegheny County Airport opened as the first airport in the nation with full lighting and paved runways. We made aviation history,” she said. “Today at Pittsburgh International Airport, we’re making history again. We’re really breaking ground on this region’s future.”
More than 300 people joined Cassotis at the ceremonial groundbreaking of the airport’s Terminal Modernization Program, a new $1.39 billion terminal intended to “right-size” the airport and focused on public health, sustainability and innovation.
Check out the latest blog from Pittsburgh International Airport on the milestone.
Venture capitalists are realizing record results from their tech investments, according to the quarterly PitchBook-NVCA Venture Monitor, released last week, and Pittsburgh’s no longer strictly on the sales side of exit activity.
When a company is sold or goes public, investors exit. Duolingo’s initial public offering in July brought a much sought exit to the region. Activity continued with Cognition Therapeutics Inc.’s IPO on Oct. 8 and Aurora Innovation expected to trade publicly as of Nov. 4 following its anticipated merger with Reinvent Technology Partners Y, a special purpose acquisition company.
Nationally, the exits brought more than $582.5 billion across 1,150 deals in just nine months, surpassing $500 billion for the first time and doubling the previous record, set in 2020.
In the Pittsburgh region, the $121.37 million invested locally during the third quarter was more than the first two quarters combined.