Pros and Cons of Amazon’s New Headquarters Coming To Pittsburgh
If you’ve been watching our local news lately you’ve probably heard a lot about how the major corporation Amazon is considering Pittsburgh for it’s newest headquarters! With over 238 proposals, according to CNN.com, from other major cities like New York and LA, it truly is an honor that Pittsburgh is one of the frontrunners. But should we really be surprised that Pittsburgh is so high on the list? After all, if you’re a regular blog reader of mine, then you know that it was recently ranked high in 2017 for the best places to get outside, raise a family and embrace the future! Before you get too excited about the prospect of Amazon coming to Pittsburgh, let’s take a look at the positive and negative impacts that could come with it.
Negatives of Amazon Coming to Pittsburgh:
- Housing and cost of living could increase.
Experts from CNN.com are basing this off of what happened when Amazon moved to Seattle in 1994. Seattle was like Pittsburgh a few years ago; considered one of the most affordable housing markets on the West Coast. Since Amazon moved in home prices have increased 13.5%. Seattle also saw a huge increase in construction, with Amazon claiming 19% of Seattle’s “prime office spaces.”
While this does prove to be a major concern, Pittsburgh doesn’t seem to be worried. After all, according to our October Real Estate Update, new construction was already on the rise both in Pittsburgh and nationally. According to WPXI.com, local officials aren’t worried about these major concerns at all. They believe that it will be a very smooth transition and actually rebuild some of Pittsburgh’s neighborhoods. Not only do they believe that it will build our neighborhoods, but also our schools and other amenities.
- Rent prices could also increase.
CNN.com predicts that in addition to housing prices increasing, rent prices might also increase. The article claims that rents nationally are already increasing and cities like Raleigh, Pittsburgh and San Jose would see the biggest increase in rents. However the concern with Raleigh is that they wouldn’t be able to build enough homes with the large number of employees that are expected to come with Amazon.
As mentioned previously Pittsburgh shouldn’t experience this problem because there are so many neighborhoods that are looking to be built up. New construction neighborhoods like Venetia Pointe and Brick Ridge Estates are always building more as well. Plus, if rents continue to rise and Amazon brings high-paying jobs this should turn more renters into buyers!
Positives of Amazon Coming to Pittsburgh:
- 50,000 jobs are expected to accompany Amazon’s new headquarters.
These aren’t just minimum wage jobs that Amazon is brining, but highly paid jobs looking for highly skilled employees. With this huge amount of jobs coming, it could decrease unemployment rates in Pittsburgh. These jobs will also impact local businesses, perhaps prompting more restaurants and housing to grow event more. With these employees come their families so this will positively impact our schools and communities as well.
- New startups in Pittsburgh could rise.
While these new residents might have come to Pittsburgh for Amazon’s 50,000 job openings, they could stay and branch out on their own according to CNN.com. After all, with Pittsburgh being predicted as one of the top cities to embrace the future as previously mentioned, it would be the perfect place for any kind of new startup!
So while there appears to be an equal amount of positives and negatives for Amazon coming to Pittsburgh, our city doesn’t show much concern for the negative points. Our city is always growing and changing and already has a number of major headquarters that are located here. Bringing Amazon to the city of Pittsburgh could only help and we sincerely hope it happens!
Considering a Move to Pittsburgh?
If you want to see how our city reacts to Amazon’s potential arrival, don’t hesitate to contact us by calling or texting us at 724-288-8800 or calling us at the office at 724-941-8680. After all our team is dedicated to making sure you find the home of your dreams.
Until Next Time,