PNC Financial Services Group, the biggest bank based in Pennsylvania, says it's building a 40-story, 800,000-square-foot, $400 million "green" office tower, to create 2,500 construction jobs, as its new headquarters in Pittsburgh.
It's the biggest office building to be built in Pennsylvania since before the recession. Story here.
Why Pittsburgh? Cause that's where PNC is based, of course. Never mind that the city is shrinking, or that the Philadelphia region is a lot more dynamic, and a bigger market for PNC. Philadelphia lost its banks, and tens of thousands of headquarters jobs, in the 1980s and 90s, when their boards decided to grab multi-billion-dollar offers from out-of-town companies.