Capital Region Industry Sectors
Manufacturing and technology have been driving the Capital Region’s economy for more than a century, and they continue to run smart and strong here. Backed by R&D centers at the Colleges of Nanoscale Science & Engineering at SUNY Polytechnic Institute, Rensselaer Polytechnic Institute, GE Global Research, Albany Medical Center and the Pharmaceutical Research Institute, local companies in Albany, Troy, Schenectady, Hudson, Catskill, Saratoga Springs and Glens Falls are able to retain their competitive advantages in the global marketplace.
Our key technology and manufacturing sectors of focus include the following:
Nanotechnology: Nanotechnology and Semiconductors
- Description: Companies in this sector work with materials and devices at the atomic and molecular level to create many types of structures or devices with improved molecular organization.
- CEG Resources: NY Loves Nanotech
- Highlights: The Albany-Troy-Schenectady metro area in 2014 and 2015 ranked second in the U.S. for semiconductor device manufacturing process patents. Also, between 2011 and 2015, employment in the area’s semiconductor and other electronic component manufacturing subsector also increased by 190 percent to 3,513 jobs.
- Sample companies: GLOBALFOUNDRIES, Tokyo Electron, Free Form Fibers
Cleantech/Energy: Solar, Wind, Fuel Cells, Geothermal and Smart Grid
- Description: Companies in this sector study, use, develop or implement products or services that improve operational performance, productivity, or efficiency while reducing costs, inputs, energy consumption, waste or pollution.
- CEG Resources: Business Growth Solutions (BGS)
- Highlights: New York ranks second for cleantech patents, first for wind patents and fifth for U.S. Department of Energy R&D funding.
- Sample companies: GE, Plug Power, Espey Mfg. & Electronics
Health Technology: Smart Medical Equipment and Analytics
- Description: Companies in this sector study, use, develop or implement devices, procedures and systems for the organization of knowledge (g., data analytics) and skills to establish health problem solutions and improve quality of life.
- CEG Resources: BioConnex
- Highlights: GE Global Research has health tech active partnerships in the region with Albany Medical Center, RPI, Ellis Medicine and HIXNY. Albany Medical Center and Ellis Medicine-St. Peter’s Health Partners are performing provider systems in New York’s Delivery System Reform Incentive Program.
- Sample companies: GE Global Research, AngioDynamics, Entransmedia
- Description: Companies in this sector study, use, develop or implement technologies that manipulate cellular, subcellular or molecular components in living things for applications in various scientific fields and industries such as medicine, animal health, agriculture, marine life and environmental management.
- CEG Resources: BioConnex
- Highlights: The National Institute of Health (NIH) on average annually awards more than $50 million to Capital Regional biopharma and life sciences companies and R&D centers.
- Sample companies: Regeneron, AMRI, Taconic Biosciences
- Description: Companies in this sector make new types of modified metals, polymers (eg., thermoplastics and thermosets), ceramics, glasses and composites that are superior to the traditional version of these materials and feature characteristics important to particular applications.
- CEG Resources: Chief Executives Network for Manufacturing (CEN)
- Highlights: The Albany-Troy-Schenectady metro area in 2015 was the nation’s 35th leading exporter of chemical manufactured goods.
- Sample Companies: Momentive Performance Materials, SI Group, Automated Dynamics
- Description: Companies in this sector study, design, develop, implement, support or manage computer-based information systems, particularly software applications and computer hardware.
- CEG Resources: TechConnex
- Highlights: Forbes in 2016 named Albany the nation’s third best place to find a job in technology, with employment in the area’s software publishing subsector increasing by 57 percent between 2011 and 2015.
- Sample companies: CommerceHub, Transfinder, AutoMate Dealership Systems
- Agriculture/Food: Agriculture and local food systems account for about 10 percent of the Capital Region’s employment. Notable area food and beverage producers include soft drink manufacturer Adirondack Beverages, spaghetti sauce maker Casa Visco, sausage manufacturer Belinski and several
- Creative Economy: The local creative industry employs more than 24,000 residents, with Columbia County having the nation’s third highest concentration of independent artists.
- Tourism: Our region includes more than 350 tourist destinations, accounting for $2.4 billion in visitor spending in 2014.
- Transportation and Logistics: Our region employs over 14,000 individuals at hubs such as the Port of Albany, Port of Coeymans and fulfillment centers for companies such as Ace Hardware, Coca-Cola, FedEx, UPS and Target.
Call CEG today and learn how we can help you grow in any of these sectors.