These 4 Capital Region ZIP Codes Added 1,000+ Jobs
The ZIP codes covering Saratoga Springs, Latham, Schodack and downtown Albany had the Capital Region’s largest annual net gains in employment in 2023, according to a Center for Economic Growth (CEG) analysis of new County Business Patterns data from the U.S. Census Bureau.
In 2023, 140 ZIP codes in the eight-county Capital Region experienced an annual increase in employment while 80 saw growth in their number of employer establishments. Four ZIP codes had annual employment gains exceeding 1,000 jobs and eight other had increases between 500 and 999.
The region’s top ZIP code for annual job growth in 2023 was 12866 (Saratoga Springs). Its employment increased by 2,385 to 29,121. The ZIP code registered 29 additional employer establishments and $172,279,000 more in annual payroll growth. Examples of businesses that in 2023 announced opening or expansion plans in the 12866 ZIP Code included AgroChem, Soleno, Prime Group Holdings, Tree House Brewing Co., Espey Mfg and Electronics Corp., though most of those projects were completed in subsequent years. AgroChem, for example, last spring announced the 27,500-square-foot expansion to factory in the W.J. Grande Industrial Park was officially complete.
The 12110 ZIP code covering Latham was the region’s second biggest jobs gainer in 2023. Despite having 17 fewer employer establishments, the ZIP code saw its employment increase by 1,888 to 28,503. By the end of 2023, work was nearly completed on a new 263,000-square-foot Latham headquarters for CDPHP and Community Care Physicians. Other businesses that opened or expanded in Lathan in 2023 include Elevation Ten Thousand, True Pickleball Club, and The Anderson Center for Autism.
The region’s third biggest-gaining ZIP code for jobs was 12033, which covers Schodack and Castleton-on-Hudson. On top of adding 18 employer establishments, this ZIP code increased its employment by 1,809 to 3,495. Construction on Amazon’s second fulfillment center in Schodack was completed around late 2022 or early 2023. The 278,670-square-foot warehouse is about a mile from the company’s other fulfillment center that employs more than 800 people.
Other top-gaining ZIP codes in the region included those covering downtown Albany’s Warehouse and South End neighborhood (12207: 1,419 jobs), Guilderland (12203: 942 jobs), Ballston Spa (12020: 915 jobs), Colonie (12205: 904 jobs), Niskayuna (12309: 862 jobs), Selkirk (12158: 841 jobs), Schenectady (12345, 686 jobs), Albany’s Center Square and Arbor Hill neighborhoods (12223: 571), and Hudson (12534, 517 jobs).
CEG INITIATIVES
As a Manufacturing Extension Partnership center, CEG also helps Capital Region manufacturers increase their productivity by providing a menu of technical support services, such as Lean Enterprise Training, ISO Certification Assistance, Technology-Driven Market Intelligence, and CoreValue benchmarking assessments.
To support the growth of local startups, CEG recently launched the Venture Readiness Program, which help Capital Region entrepreneurs build investor-ready ventures. The program provides one-on-one mentoring for local entrepreneurs by pairing them with expert Entrepreneurs-in-Residence (EIRs). It also leverages Launch NY’s new $16 million seed fund to facilitate access to venture funding for local startups.
CEG is also an affiliate of the Capital Region Chamber, which provides support services for entrepreneurs include, loan programs, entrepreneur boot camps and an MWBE program.
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