Local leaders praise G-20 outcomes

From Rich Lord:

Local leaders today called the G-20 Summit a rousing success, providing initial estimates of $35 million in direct economic impact, $100 million worth of media exposure, and just $50,000 in damage.

"We've already documented dozens and dozens of stories all across the world on newspapers and on TV," said Dennis Yablonsky, CEO of the Allegheny Conference on Community Development. His staff said it would cost at least $100 million to buy equivalent ads worldwide.

Those stories have already resulted in one call from an international company interested in doing business in Pittsburgh, he said.
VisitPittsburgh President Joe McGrath reiterated his estimate that the money spent by visiting advance teams and delegations, plus David L. Lawrence Convention Center set-up, totaled $35 million. He said two groups have told his organization that G-20 publicity has prompted them to tentatively pick Pittsburgh to host upcoming meetings, and negotiations are occurring.

The public-private Pittsburgh G-20 Partnership put together to host the summit will remain in place, said Mayor Luke Ravenstahl, to "make sure that the G-20 isn't just a 48-hour flash in the pan."

The estimated $50,000 in property damage from protesters won't be covered by the insurance policies taken out by the city, officials said. Those policies will cover the city in the event anyone sues the city for damages or injuries driven by last week's summit. Police officials said they did not believe there were any major injuries.

Independent mayoral challenger Kevin Acklin today questioned the "decision to shut down the Downtown business district" for the summit, saying that "the economic damage done to our local business community was both unfair and unnecessary."

Mr. Ravenstahl said he did everything he could to encourage Downtown businesses to stay open. Mr. McGrath estimated that around 1 in 5 people who normally work Downtown came there Thursday and Friday, and said much of the business they do may have been pushed into outlying areas.