The Capital Region is New York’s second leading economic development region in reducing its ranks of people in poverty, according to a Center for Economic Growth (CEG) analysis of U.S. Census Bureau five-year estimates. Regions Between 2015 and 2019, the eight-county Capital Region averaged 108,471 people below the poverty level.
Just before the pandemic, the Capital Region experienced its strongest gross regional product (GRP) growth in 14 years, with a jump in productivity in the Glens Falls metropolitan statistical area (MSA) pushing the annual output total over the top, according to a Center for Economic Growth (CEG) analysis of new
ALBANY, NEW YORK – New U.S. Census Bureau data reveals the Albany-Schenectady-Troy metropolitan statistical area (MSA) is the nation’s fourth biggest attractor of greater New York City metro area workers who relocate for jobs, according to a Center for Economic Growth (CEG) analysis of U.S. Census Bureau Job-to-Job Flows Explorer
Since COVID-19-related job losses peaked in April, the education services, retail trade and other sectors in the Albany-Schenectady-Troy metropolitan statistical area (MSA) have slowly bounced back. However, as of July, hard-hit sectors such as leisure and hospitality and healthcare and social assistance have been slow to reduce their year-over-year losses
See CEG’s latest industry attraction promotional reports on key industry clusters and regional/county profiles. Between 2015 and 2019, CEG promoted the Capital Region at 78 industry attraction events in 41 cities worldwide. While the coronavirus pandemic has temporarily halted CEG’s travel to conferences, we continue to represent the region at
Even before New York State designated 20 Capital Census Tracts as Opportunity Zones in 2018, half of them had growing populations and four in five had increasing ranks of employed residents. The federal Opportunity Zones community development program is now promising to build on that momentum and is already attracting
According to the latest federal statistics on the gross domestic product of U.S. counties, the Capital Region has the third highest per capita GDP in the New York and has the state’s third fastest-growing GDP. Regional GDP The U.S. Bureau of Economic Analysis (BEA), which measures and reports on the
Nonprofit organizations are playing an important role in supporting the Capital Region’s economic growth. In forming the backbone of the region’s creative economy, training the workforce and providing an abundance of outdoor recreational opportunities, they are helping the Center for Economic Growth (a nonprofit) and the Capital Region Economic Development
The Capital Region’s mining industry has become the area’s fastest-growing sector and the largest of its kind in the state in terms of jobs. Mining Jobs Averaging 959 employees in 2017, the eight-county region’s mining sector has grown by 40.6 percent over the past five years. During that time, employment
Last May, the Capital Region’s unemployment rate dropped below 4 percent, ending its third longest steak above that level since 1990 (23 months). Often referred to as a threshold, either psychological or arbitrary, the sub-4 percent rate signals economic strength. However, issues remain about sustainability. Although the region has taken
