A technology community’s resources and homegrown talent define its
identity, but to reach a bigger stage it will ultimately need to attractothers to its cause.So, in Pittsburgh, it was viewed as a turning point when Google came to thecity. Opening an office within Carnegie Mellon University in 2006 that washelmed by a professor it hired from the institution, the big tech company grewthe office to 150 employees that led it to open a new office in Bakery Squarein 2011.It was a landmark of economic transformation, anchoring the redevelopment of aformer Nabisco factory that now also houses University of Pittsburgh’sDepartment of Rehabilitation Sciences and Technology. And UPMC Enterprises,the university’s venture arm that is committing $1 billion to new lifesciences investments, is there, too.“Google was committed because they saw the kind of talent that was coming outof CMU,” Audrey Russo, president and CEO of the Pittsburgh Tech Council, toldTechnical.ly. It set up a playbook: “You get as close as you can to peopledoing the research and graduating from the best schools. … It’s something thatturned the corner for the region.”The move was also the beginning of a wave of tech companies putting down rootsin the city. Facebook moved a team focused on virtual reality, and just openednew offices in the Strip District. In the same area, Uber launched itsAdvanced Technologies Group in 2015, adding a prominent name to the list offive companies testing self-driving cars on the city’s streets in the ensuingyears. In fact, the Big 5 are all there: Apple and Microsoft and Amazon, too,each having grown since planting a flag. Self-driving startup Argo AI broughtits own big players to town in a way, as well, recently landing $7 billionfrom automakers Ford Motor Company and Volkswagen. The company is planning totake more space in the Strip District with an additional 65,000 square feet.Autonomous vehicle company Aptiv also rolled in, announcing recently that itwould move its offices to Hazelwood Green, a development on a former steelmill site along the along the Monongahela River.It hasn’t slowed down even with the COVID-19 pandemic closing offices. Zoom,which has become a household name for videoconferencing in a time of remotework, announced in May that it it will set up a research and developmentcenter in Pittsburgh, with plans to split 500 employees between here andPhoenix. In this case, there doesn’t even need to be a splashy office opening:The company planned to begin recruiting software engineers who will initiallywork from home until at least fall of 2020.As July arrived, software company Mindera said it would expand in the U.S.with a second office in Pittsburgh, with plans to add to an employee base of500 people in locations like San Diego as well as the U.K., Portugal andIndia. It’ll be based in the Pittsburgh Innovation District, a neighborhood-level tech hub in Oakland where companies are moving in around the knowledgecenters of CMU and Pitt.With each of these moves, talent has been a central part of the equation.While HQs remain elsewhere, these Pittsburgh offices are heavily engineeringoffices, drawing from a unique cluster of talent that’s centered around CMU’sexpertise in artificial intelligence and robotics. It even showed up in Zoom’spress release:“With our visionary faculty and exceptionally talented students, CarnegieMellon is catalyzing revolutionary work to accelerate digital transformationacross markets and industries, and we look forward to partnering with Zoom toenhance their remarkable momentum in defining the future of virtualinteractions,” said CMU President Farnam Jahanian.And again in Mindera: Mary Lockwood, managing director for the U.S., cited“the level of technical talent in the city as well as its welcomingenvironment and emphasis on partnership” as the reasons the company isexpanding here.And again as Facebook CEO Mark Zuckerberg said the company would choosePittsburgh as one of the markets to expand on a wave of remote work hires.As ambitious projects like Bakery Square and Hazelwood Green show, techexpansion is part of a wave of redevelopment taking place across the city. Thetech offices, the self-driving cars and, yes, the kind of walkable, foodie-inclined environments that are attractive to people from all over, aremultiplying through neighborhoods like Lawrenceville, Oakland and East End.Even the terrain is fitting, as the compact, hilly, all-weather nature of thecity makes it a good place to figure out if a robot can survive on realstreets.“If you can get an autonomous vehicle to work here, it should pretty much beable to work anywhere,” said Lou Camerlengo, who started custom design and devshop fivestar in 1997 and serves corporate clients as well as communityclients and economic development groups.
It’s not new.
It can be tempting to read this change, coming decades after the city lostone-third of its population when the steel industry collapsed, as a recentphenomenon. After all, it brings together the post-Recession push towardcities and new economies.Yet it’s worth remembering that the innovation ecosystem didn’t just arrivewith Google. After all, the company sought out CMU for its expertise in AIthat took decades to develop. The groundwork for Carnegie Mellon and Pitt’sexpertise and resulting talent pool in artificial intelligence and roboticsdates back to the 1950s, when then-professor Herbert Simon and Allen Newellare credited with pioneering the field. Even Zoom can trace its legacy to CMU,as the first video call took place 50 years before the company launched.When it comes to robots, the now-prevalent “Roboburgh” nickname dates to a1999 Wall Street Journal article. By turn, the research itself can be tracedat least to 1979, when CMU’s Robotics Institute was launched. It gainednational attention when William “Red” Whittaker, who is now CTO of moonboundautonomy company Astrobotic, led development of robots to inspect the accidentsite at Three Mile Island Nuclear Power Plant near Harrisburg.Now the Pittsburgh Robotics Network has more than 50 companies. Many of therobotics researchers are developing technology more quietly than commercialstartups otherwise would — in fact, they’re not seeking any attention. They’vegot funding via government contracts, and are racing to develop technologythat will have generational impact.“We call them the unsung heroes of Pittsburgh tech,” said Jennifer Apicella,president and CEO of Build412 Tech, which connects technology professionals inPittsburgh through events and membership. “Not only are they providing amazingjobs but amazing experience for our technology professional population doingcutting-edge technological development. Who doesn’t want to be a part ofthat?”
It’s not only CMU.
Through its schools of medicine and engineering school, the University ofPittsburgh leads a research sector that’s one of the top recipients of NIHgrant funding to advance discoveries at centers like the McGowan Institute forRegenerative Medicine.Like many cities, Pittsburgh also has a base of startup activity, as a groupof accelerators and incubators like Alphalab, Idea Foundry and Ascender seekto provide resources that can help new businesses grow. It’s in line with thegrowth of entrepreneurship that came on the heels of the Great Recession inmany cities, but didn’t start in 2008. Here’s a few examples of companies thatwere founded in Pittsburgh and grew big workforces: * FORE Systems, a networking switching company founded by former CMU professors, was acquired by Marconi in a 1999 deal that came just before the dot-com bubble burst. The business unit went on to become part of Ericcson, and maintains a presence in the city. * After an IPO in 1999, procurement tech company Freemarkets was acquired by Ariba in a deal worth $493 million, making it the largest satellite office of Sunnyvale, California-based Ariba at the time. * Resprionics, a medical supply company headquartered in the suburb of Oakland, was acquired by Phillips in a $5.1 billion deal in 2008, and in 2017 Phillips opened an innovation center in the city’s Oakland neighborhood. * Language-learning company Duolingo, founded in 2009 by CMU professor-turned-entrepreneur Luis von Ahn and Severin Hacker, recently became the city’s first tech company to reach unicorn status (more than $1 billion valuation) after a new investment from the parent company of Google.Still, the sector of the economy that include organizations with a specifictech focus doesn’t tell the full story of local employment in technology as awhole. For one, the tech growth isn’t driving the same employment numbers asthe steel industry once did, said Christopher Briem, a regional economist atPitt’s Center for Social and Urban Research. There’s been signs of growth ineducation and healthcare, as well as financial services. And with proximity tothe Marcellus Shale, hydraulic fracturing continues to drive big job gains.“It’s a much more difficult challenge for a region to maintain competitivenessin any one industry than it was for steel because there was coal in the groundthat made it an optimal place to make steel for over a century,” he said.Yet the city’s place as an industrial center continues to have a long reach,and some of those big firms that helped build the city’s blue collarreputation are also the ones driving innovation. PPG, Westinghouse Nuclear,Alcoa, ANSYS, UPMC and Highmark have long been in the region. It’s notnecessarily the sexiest, but is firmly rooted in an ethos of creatingtechnology that can help advance industries and infrastructure.“It’s not just doing things for the pure science of it,” said Kevin Stolarick,the “Official Statistician of the Creative Class” who got his Ph.D. at CMU andlong called the city home before moving to Toronto. “It’s doing things becausethere’s a problem that we need to solve.”Those problems take time to work out, and they don’t always draw the bigpraise. But they’ve created a base of jobs and a foundation to keep pushingtechnology forward.“I always love the the 15 years it takes to be an overnight success,”Stolarick said. “That’s a large part of this.”At the same time, some of the largest employers with headquarters inPittsburgh are also now the largest tech employers. Take PNC. The companydoubled in size following the acquisition of Cleveland-based National CityCorp. in the wake of the 2008 recession. Now it is positioning itself as atech company that delivers financial services, rather than the other wayaround.And it’s true of some of the biggest companies across the region: BNY Mellon,Dick’s Sporting Goods, Dollar Bank, Federated, Covestro, Lanxess. These jobsoften come with stable benefits and the chance to get the experience thatcomes from working at a large company.
It’s creating pathways for talent.
For one, there are places to go from a smaller firm.“When our developers leave here it’s not uncommon for them to go to acorporate setting,” Camerlengo said of fivestar. “They are a big actor becauseeveryone really needs that tech talent.”Julia Poepping started her path in Pittsburgh’s tech industry working ininformation systems at PPG in the 1980s. It was reflective of that steady,process-driven employment that the city has always been known for.“One of the things that I found when I worked at a large, 120-year-oldmanufacturing company is they had really good processes. For a long time theywere run by engineers, and it was a great place to really learn how to run abusiness and how to do things responsibly,” she said.“All you have to do is ask and somebody is going to figure out how to helpyou,” said Poepping, who chairs RedChairPGH, a nonprofit for gender balance intech.The hiring that has taken place on all of these levels has created a dynamicthat sees Pittsburgh seeking to fill technology jobs.Universities like CMU, Pitt and Duquesne are producing talent, yet at somelevel it becomes a matter of numbers — supply and demand. The boom in jobs iscreating more openings than an annual graduating computer science program canfill. Justin Driscoll, Pittsburgh campus director for coding bootcamp TechElevator, has seen lots of change over a couple of decades in the techecosystem. For one, he points to the growth of the neighborhoods where techcompanies are based as a destination.There’s also been a change in jobs. He cited data that shows more than 7,000tech roles were posted on BurningGlass in 2018. That same year, local computerscience schools graduated 650, students, he said. For its part, Tech Elevatoris training about 150 new developers a year who weren’t previouslytechnologists. In an economy where software developers have options fromworking on a bank’s customer experience to building robots, there’s a need forpeople to grow the workforce.“The transferability of these skills is really what’s fueling this economy andmore and more need in the region,” Driscoll said.
It’s attracting folks to move in from elsewhere.
Along with the proximity to talent, they are attracted by affordability andgeneral quality of life that comes from living in a city of 300,000 peoplewhere dollars go further. The restaurant scene is getting national accolades.Plus, the museums, libraries and parks that still bear the names of the giantsof industry offer plenty to do.And, again, there’s the ethos that indicates one can get involved: “Come toPittsburgh if you want to build something,” Russo told Technical.ly.Though not all grads will stay, the base of companies creates a place forfolks who are graduating to find a job, and a base of talent to attract folkswho might be seeking out a new city, or left town and want to return inanother stage of life. Build412 Tech’s Apicella has been taking note of this“boomeranging” effect, and sees it as a source of attracting talent.“They left for a few years and went to go try something new, and now they comeback and bring that experience with them,” she said.Yet it’s not only those who come from outside that will shape the city’sfuture. A big economic shift means that technology as a profession will shapethe city as a whole. That means folks who already live in town have a place,too. Similarly, the path is still being shaped.It will mean specific roles for people at different levels. Tech Elevatoroffers training that prepares junior developers. It’s a pathway into a well-paying tech job that has good benefits, without requiring a college degree,which presents a new kind of opportunity. But at the same time, it’s notnecessarily the kind of talent that’s often sought at a startup. There stillneeds to be time to learn from more advanced folks, which a larger team canoffer.“Our new developers can learn from them and then hopefully one day work atDuolingo,” Driscoll said.It’s easy to think in shorthand about tech. There’s Silicon Valley powerplayers and there’s CMU robots. They’re important and will remain so, but witheconomic change that’s bringing outsize growth, it’s fast becoming apparentthat lots of different kinds of organizations will have a role. And that willrequire both looking outside, and within.Sign up for This Week in Jobs, a roundup of open tech roles in PittsburghCompanies: Pittsburgh Innovation District,Tech Elevator,Amazon,University of Pittsburgh,Apple,Carnegie Mellon University,Facebook,Google,Microsoft,Uber,Zoom-30-Top UK Advertising Agencies & Media Agencies
3 agency flagged dramatically, leading to a string
of client departures. In late 2018 it was merged with digital agency VML tobecome VMLY&R. more here
The UK’s Top Media Agencies in 2020 ranked by billings
Source: Nielsen / Campaign Top 100 2021
Gone But Not Quite Forgotten
Search the top advertising and media agencies in the United Kingdom for 2015* * *All rights reserved © Mind Advertising Ltd 1998-2021Top 10 Dividend Tech Stocks in 2021Dividend Stocks
Top 10 Dividend Tech Stocks in 2021
Technology is taking over every industry. And now some of the best stocks youcan buy are dividend tech stocks. They’ve proven themselves to be consistentcash flow machines.With so much cash piling up, the tech companies can’t reasonably reinvest itall. As a result, they pass it along as dividends to investors. For example,Microsoft has paid an annual dividend for the last 14 years. Investors canthen decide what to do with the cash.Some of the dividend tech companies below haven’t paid dividends for nearly aslong, although they’re adding to their dividend history each year. Andinvestors can buy a few of these companies to set up a steady stream ofpassive income…
List of Dividend Tech Stocks
1. Apple (Nasdaq: AAPL) 2. Microsoft (Nasdaq: MSFT) 3. Intel (Nasdaq: INTC) 4. IBM (NYSE: IBM) 5. Cisco (Nasdaq: CSCO) 6. Oracle (NYSE: ORCL) 7. Broadcom (Nasdaq: AVGO) 8. Texas Instruments (Nasdaq: TXN) 9. Applied Materials (Nasdaq: AMAT) 10. Corning (NYSE: GLW)To build this list, I screened for larger companies with sound financials.These are important factors for dividend-paying companies. I then dived deeperinto each company’s business model and prospects.To get a sense of what helped them make the cut, here are a few highlights…
Top Tech Stocks Highlights
Apple’s strong ecosystem keeps its customers coming back. The company is alsofinding new ways to monetize its users. IPhone sales still make up the largestpiece of the pie, but services revenue is climbing. This segment includes AppStore fees, Apple Music, Apple Pay and many other services.When determining the best dividend tech stocks, it’s also important to look atcompany risks. And one problem with Apple is its market share in certainareas. Many regulators are targeting big tech that have created near virtualmonopolies. Although, since many of the services are free or bundled, it’s notas clear cut.There will continue to be legal pressure on Apple, but the business willcontinue to grow. Investors should also see higher dividend payouts goingforward.IBM’s valuation is beaten down. It’s been a long-running turnaround, butrevenue growth is on the horizon. Investors can buy into “Big Blue” at muchlower valuation multiples when compared with other big tech.IBM has been transitioning from its legacy mainframe business. It’s beeninvesting heavily in newer technologies, such as blockchain, cloud servicesand quantum computing. That’s just to name a few, and if any of these areastake off, that could generate hundreds of billions of dollars for the businessdown the road.The turnaround isn’t guaranteed, but that’s why IBM stock is trading on thecheap. This dividend tech stock also has a long history of paying dividends.As the share price has stalled, the dividend yield has climbed above 5%.That’s one of the highest on this list of stocks.Cisco is riding the wave of internet expansion. The company builds and sellsnetworking hardware, software and telecom equipment. As more devices comeonline, Cisco should continue to see its sales and bottom line increase.The push for 5G is also an area of growth for Cisco. It provides an automated,cloud-to-client, software-based network for 5G. And overall, 5G startedbecoming available in 2020 and should be commonly available by 2022.Another big theme for Cisco is cybersecurity. As more devices connect, there’smore room for cyber threats. This is a growing concern with businesses. As aresult, Cisco offers a wide range of security products and software. This isanother reason to be optimistic about Cisco’s future growth.Intel continues to grow with computing demand. It’s a leading semiconductorproducer with a long history of innovation. Intel powers hundreds of millionsof PCs, and it’s important to note that it’s losing some market share… but itsprofits in that segment continue to climb.Intel recently announced it’s delaying its 7-nanometer chip products by aboutsix months. And the share price dropped in response. But with continued strongcash flow, management has announced a $10 billion share buyback. If managementis able to deliver on the big future growth, this is a great move forinvestors.The company is transitioning to larger data-centric sales. Intel ispositioning itself to lead in AI, 5G and the autonomous revolution. Thecompany acquired a leader in vision-based self-driving car technology,Mobileye, for $15.3 billion.
Final Notes on Tech Stocks With Dividends
These top tech stocks have proven track records. This has helped them payreliable dividends. And as technology takes over more of the world, cash flowand payouts should continue to climb.Overall, these dividend tech stocks are some of the top investingopportunities available today. And if you want to see how these investmentscan double or triple your portfolio, check out our free investment calculator.The dividend income can be a nice boost to your annual returns.Also, if you’d like to, you can sign up for our Investment U e-letter below.It’s free and full of useful tips and research from our experts. Whetheryou’re new or already an experienced investor, there’s useful insight foreveryone.* * *