Nova taking charge

Nova Chemicals announced it would take a third-quarter charge of about $30 million after-tax related to costs of a restructuring plan it announced in June. The plan will cut $65 million annually and eliminate 375 jobs. The company said 20 senior management positions have been eliminated and that it is on track to achieve the $65 million target by year-end.

Healthy results for businesses

Employers pooling their purchasing power through the Pittsburgh Business Group on Health saw overall drug costs grow by less than 1 percent in 2005, vs. the 12 percent increase nationally, the group said yesterday. Members saved $12.7 million on drug benefits, and program membership grew by 20 percent to include 28 employers and 188,000 members.

Off the Bus, into the Grille

The first Jerome Bettis' Grille 36 could open by April on the North Shore. Fort Lauderdale, Fla.-based Celebrity Ventures has signed a lease to put the 8,500-square-foot restaurant near Heinz Field on the first floor of the Del Monte regional headquarters building, said Bob McCarthy, a partner in the Florida group. As North Shore development continues, Mr. McCarthy said, the restaurant could offer valet parking or invest in a golf cart to be called, of course, "The Bus," the nickname of the retired Steelers running back.

$1 million to lure research

The Pennsylvania NanoMaterials Commercialization Center, an economic development group that receives public and private funding, said it received $1 million from the state to bring selected nanotechnology research projects to market. The center said it was accepting proposals through September from nano-focused researchers at universities, government laboratories, and companies interested in turning projects into products.

Coalition pushes high-tech

The growth of technology companies in various sections of the city is the goal of a newly formed alliance. Duquesne University and the Hill House Economic Development Corp. said they joined forces with 14 other local groups to submit a proposal creating the Pittsburgh Central Keystone Innovation Zone, which would push for high-tech growth Uptown and in the Hill District, Downtown and in parts of the North Side and South Side. If the proposal is approved, the coalition will receive a first-year $225,000 state grant and matching money from participating groups to launch the initiative.

Also in business ...

The University of Pittsburgh Medical Center is spending $2 million to buy an 84,000-square-foot warehouse it had been leasing on East Carson Street in the South Side, according to a hospital spokesman ... South Side agency GatesmanMarmionDrake Advertising has been tapped to handle the $2 million public relations and advertising account of Katahdin Cedar Logs Homes, based in Oakland, Maine. The account will be co-managed out of the firm's Pittsburgh and Portland, Maine, offices.