Front and Center
A longtime leader in technological advancement, the Capital Region is at the front of New York’s economy – ranking high in both productivity and patenting. We are also in the middle of a major geographic region, with New York City, Boston and Montreal just three-hour drives away and 40 percent of North America’s population a day’s drive away.
Here, being in the front and the middle is not a paradox, it’s a way of life. It’s what allows our employers to tap R&D centers and talent pipelines at our 21 colleges and universities and what allows our employees to spend less time getting to work or regional attractions and more time doing what they enjoy. Front and center: That’s the Capital Region.
In our backyard you’ll find the “Birthplace of Innovation” (i.e., General Electric’s Schenectady campus), endless beauty – from the southern Adirondacks to the northern Catskills – and immense brainpower at nationally recognized R&D centers such as the SUNY Polytechnic Institute in Albany and Rensselaer Polytechnic Institute (RPI) in Troy. Running through the region is the majestic Hudson River, which flows past the state’s northern-most, 12-month port and vibrant downtowns buzzing with breweries and tech startups in Albany and Troy.
Quality of Life
The region consists of several counties: Albany, Columbia, Greene, Rensselaer, Saratoga, Schenectady, Warren and Washington. We are also active in Fulton, Montgomery and Schoharie counties. More than 1 million people call the Capital Region home, and a third of our population over 25 years old has a bachelor’s degree or higher. Our residents enjoy living in communities that are close to where they work (the average commute is 24.08 minutes) and that are affordable. Median home prices and rents are below the national average while the median family income is above that average. The area has the state’s second highest per capita personal income. On top of these economic opportunities, there are a bevy of entertainment and recreational ones, too, including sporting events or concerts at the Times Union Center, performing arts at SPAC and Proctors Theatre, and a dozen state parks plus the Catskill Park and Lake George region.
At 5,333 square miles, the Capital Region is almost the size of Connecticut. Getting around is easy, with three major interstate highways running through the region – the New York State Thruway (I-87/I-90), the Adirondack Northway (I-87), and I-88. Albany International Airport offers national carrier and regional commuter air service and air freight service, and railway freight and passenger services are provided by CSX Corp., CP Rail Systems and Amtrak. The deep-water Port of Albany is located 126 nautical miles north of New York City and Great Lakes ports are accessible via the New York State Canal System.
Each of our counties contribute unique assets to the whole, allowing for the creation of regional synergies that power a dynamic and versatile economy. For example,
- Albany County: This county is the seat of New York’s capital and home to a burgeoning software IT sector, 12 colleges and universities and major R&D centers such as SUNY Polytechnic, Albany Medical Center, Albany College of Pharmacy and Health Sciences, and the Wadsworth Center;
- Columbia County: This county has the nation’s third highest concentration of independent artists;
- Greene County: Located in the Catskills, this county has a high concentration of leisure and hospitality sector workers thanks to two major ski centers and several smaller resorts;
- Rensselaer County: This county is home to the nation’s oldest technological research university, which also has the world’s most powerful supercomputer at an academic institution;
- Saratoga County: This county is internationally known for the historic Saratoga Race Course, but it is also at the forefront of clean energy, advanced nuclear propulsion and semiconductor R&D due to the Saratoga Technology and Energy Park (STEP), Knolls Atomic Power Laboratory and GLOBALFOUNDRIES Fab 8 chip plant;
- Schenectady County: This county has deep industrial roots going back to Thomas Edison himself, positioning it to become a leader in advanced manufacturing thanks to GE Energy and GE Global Research; and
- Warren and Washington counties: These counties have some of the nation’s highest comparative advantages for medical equipment and supplies manufacturing jobs, thanks to companies such as AngioDynamics and C.R. Bard, Inc. (also known as Bard).
Call CEG to learn more about the opportunities the Capital Region holds for your business and your employees.