Pittsburgh is fast approaching its 250th birthday. Some would joke that our population is nearly as old, since about 16 percent of us are older than 64 -- and getting older.

		Jere Cowden is chief executive officer of Cowden Associates Inc., an actuarial, compensation and employee benefit consulting firm in the Ohio, Pennsylvania and West Virginia region.

Yet where some see a setting sun, I see new horizons. Savvy business leaders in the region should see this as an opportunity, too.

According to the Pittsburgh Regional Alliance, there are nearly 114,000 companies of all sizes in the Pittsburgh region, which includes the city of Pittsburgh and 10 surrounding counties in southwestern Pennsylvania.

Of the 1.25 million-person work force employed by those companies, about 11 percent will retire within 10 years, according to a recent study by the Center for Competitive Workforce Development at Duquesne University. More than a third, or about 425,000 individuals, will cross the retirement threshold within 20 years.

It is clear, then, that given the percentage of the region's work force preparing for retirement, employers here will experience a steady departure of baby boomers and the leadership, experience and continuity they bring to the workplace.

But beyond the retirement parties and parting gifts, this trend creates significant opportunities for younger workers and the employers willing to embrace them.

How can businesses in the region prepare for the passing of the torch from the boomers to Generations X and Y? And how will job vacancies and jobs newly created by retiring baby boomers' health-care needs be filled? We believe business leaders can account today for the human resource needs of tomorrow by:

Analyzing their work force, projecting future retirements and identifying critical missing skill sets;

Identifying, training and mentoring employees to tackle bigger jobs and become leaders;

Comparing the critical skills that are needed for success in their industry against their current work force's capabilities to determine gaps and develop a strategy to fill them;

Creating opportunities for phased retirement or other methods of gradual withdrawal from the work force for older workers, which will help retain critical skills and institutional knowledge;

Creating and communicating continuity plans for employees, clients and key business associates.

Fortunately for business leaders who are considering their future human resources needs, the Pittsburgh region boasts 34 universities and colleges as well as trade schools and robust trade union-sponsored apprenticeship programs that assure a rich source of great talent that can produce tomorrow's business leaders and skilled workers.

According to the September 2006 issue of The Economist, the smoky image of Pittsburgh is long gone, and its future image may be one of youth and knowledge. That's not news to anyone living and working in Oakland, the South Side and beyond. While the vibrant energy of a new generation of leaders is readily apparent in these communities, it's not as apparent that Pittsburghers between the ages of 25 and 34 are among the most educated in the nation. That, along with the rehabilitation of many brownfield sites, holds the promise of a rosy future for the region.

Our former factories and mines are being converted to green spaces, offices and inventive residential units, cool environments where young professionals can live, work and play. Add the young talent and smart minds from the area's universities and it's not surprising that Google, Intel and Apple have added research facilities to the area.

Young Pittsburghers blessed with advanced degrees are not the only ones with opportunities in Pittsburgh, though. Our region's affordability and proximity to the East Coast makes it a prime candidate for companies looking to build manufacturing or distribution facilities, as Dick's Sporting Goods recently did.

		Write to us To submit a letter or an essay for consideration for The Private Sector, please send it via e-mail to business@post-gazette.com or via regular mail to Post-Gazette Business Section, Private Sector, 34 Blvd. of the Allies, Pittsburgh 15222. Please include your telephone number, municipality and return address for verification.

Yes, the Pittsburgh region has the second-highest percentage of residents 64 years old or older in the nation. But rather than a sign of decline, we view this as a symbol of opportunity to match our improving business climate. In the numbers we see, this region is a land of opportunity for the young as well as the employers who are ready to embrace them and develop strategies to retain and grow talent of all ages.

For far too long, it's been far too easy for too many of us to look on the loss of anything as another cause for depression. But we've seen the numbers; and while celebration is certainly appropriate for the generation of Pittsburghers leaving the workplace, however gradual that may be, we think it's just as appropriate for the generation that's ready to take their place.