Earlier this week Westinghouse Electric filed for Chapter 11 bankruptcy protection, and, given the large presence of the company in southwestern Pennsylvania, there have been questions raised about the possible impact, if any, locally and how this would impact the company and its employees.
Nearly ten years ago to the day we wrote a Brief detailing the move of Westinghouse from Monroeville to Cranberry under the auspices of the Strategic Development Area program. That program was aimed are eradicating “… areas of economic distress characterized by high unemployment, low investment of new capital, inadequate dwelling conditions, blighted conditions, underutilized, obsolete or abandoned industrial, commercial and residential structures and deteriorating tax bases”. Whether Cranberry fit that bill then or now is dubious, and the impact of this week’s filing, as pointed out in the articles, is unclear will have to be seen.
