The first year of the pandemic took its toll on the ranks of freelancer, independent contractors and other nonemployer establishments in regions across New York, but the Capital Region was the only one where their total sales, value of shipments, or revenues increased. While Capital Region nonemployer establishment losses were
The number of Capital Region startups and new businesses receiving funding from the Small Business Administration’s 7(a) and 504 programs has doubled since before the pandemic, according to a Center for Economic Growth (CEG) analysis of SBA data. Loan Volumes In fiscal year 2022, 63 SBA 7(a) and
The Capital Region leads New York for growing its ranks of microbusinesses with websites since the start of the pandemic, according to data from the largest domain registrar GoDaddy. Between 2020 and 2022, the number of active GoDaddy-registered microbusinesses in the eight-county Capital Region increased by 6.2 percent to
Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on: CEG IN THE NEWS Albany Business Review: New York’s video game development tax credit
Capital Region small businesses received nearly $16 million in federal seed funding for R&D in fiscal 2021. Those recipients included three startups that got their first awards under the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, according to a Center for Economic Growth (CEG) analysis
Startup formation throughout upstate New York has been second strongest in the Capital Region, according to a Center for Economic Growth analysis of data from U.S. Census Bureau Business Dynamics Statistics. Establishment Births Between 2015 and 2019, the eight-county Capital Region averaged 2,067 annual employer establishment births, or 8.4 percent
Fifteen Capital Region small businesses received $15.5 million in federal seed funding grants for research and development in fiscal 2020. That included a record annual sum from the National Science Foundation (NSF), according to a Center for Economic Growth analysis of SBIR.gov data. SBIR/STTR The SBIR program helps stimulate small
An easy-to-use and free tool available for entrepreneurs interested in demographic or market intelligence is the U.S. Census Bureau’s Census Business Builder (CBB). The CBB provides demographic data tailored to specific users: small business owners and regional analysts. The CBB pulls from data from the Census Bureau’s American Community Survey.
While venture capital tends to concentrate in large metros such as New York City and Boston, businesses in the Albany metro area are faring better at attracting VC investment better than those in their mid-sized counterparts in the Northeast, according to a Center for Economic Growth analysis of U.S. Census
The National Telecommunications and Information Administration (NTIA) has identified 27 Census tracts in the Capital Region indicating a need for broadband due to their low Internet access and/or slow upload and download speeds, according to a Center for Economic Growth (CEG) analysis of the NTIA’s new Indicators of Broadband Need
