Boosted by the introduction of ridesharing to upstate, as well as a stronger real estate market and creative economy, the Capital Region’s ranks of independent contractors increased by 5.4 percent between 2013 and 2017. The economic impact of these mostly self-employed or freelance workers, also referred to as “nonemployer establishments,” grew even more, increasing by
The Capital Region is one of only three state economic development regions that has maintained its ranks of young adults grow over the last five years – and New York City is not one of them. In fact, out of New York’s 62 counties, only 17 grew their young adult populations between 2014 and 2018
The Capital Region is one of less than 50 metro areas nationwide where businesses spend more than $1 billion on R&D annually, according to new data from the National Center for Science and Engineering Statistics (NCSES). R&D Spending In 2015, businesses in the five-county Albany-Schenectady-Troy metropolitan statistical area (MSA) spent $1.256 billion on R&D. Of
The federal government awarded 34 percent more in seed funding to Capital Region startups and other small business in fiscal 2018, according to a Center for Economic Growth (CEG) analysis of data on SBIR.gov. Awards Fifteen firms in the eight-county region received $17 million in Small Business Innovation Research (SBIR) and Small Business Technology Transfer
Robust growth among minorities over the past five years is accelerating the diversification of the Capital Region’s racial and ethnic makeup, according to a Center for Economic Growth (CEG) analysis of new U.S. Census Bureau estimates. Minority Growth In 2018, the Capital Region had an estimated 202,663 minorities (non-white only), up 19 percent from five
