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Pittsburgh Financial Recovery Case Study

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Pittsburgh is ranked 3rd in the Kid-friendly museums, 4th best City for Foodies, and in the top 10 of Budget friendly cities to travel to. It could be say that the City of Pittsburgh’s Marketing Department has done it job to aid in the economic recovery of this city. In 2004, Mayor Tom Murphy and council reviewed our City’s financials and requested to enter into Act 47, which is the Municipalities financial Recovery act, Act of 1987, P.L. 246, No. 47. Under Act 47, the Department of Community and Economic Development was asked to assist Pennsylvania municipalities experiencing severe to devastating financial difficulties. The City of Pittsburgh has been in economic recovery since the decline in 2003. At that time the City has to lay off over 440 employees and their credit rating had dropped below that of a junk bond. It was necessary for the survival of the City that the Mayor enter into Act 47. In the years that have passed, the City of Pittsburgh has left the distressed status. …show more content…
The City of Pittsburgh has shed its “Steel City” image of the 1970s and 1980s. Pittsburgh has re-emerged as Most Livable City in 2010, and our sports teams keeping our City in the Constant spotlight. The City has also tried to supplement its budget with Movie productions, and a constant stream of concerts. We still have underinvested in the repairs of the roads, bridges and underground utilities. Our current mayor, Mayor Peduto, decided to remain in Act 47 until we have completely recovered. Mayor Peduto’s office has been running a balanced

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