Industry Sectors

Technology 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:

Advanced Electronics/Semiconductors

As home to a dynamic convergence of innovation, R&D and manufacturing, NY’s Capital Region has emerged as a major global hub for development, commercialization and production of advanced electronics and semiconductors. Scores of industry leading companies and emerging firms are conducting R&D and commercialization at SUNY Polytechnic’s Albany Nanotech Complex and at Rensselaer Polytechnic Institute. Home to GLOBALFOUNDRIES’ Fab 8, thousands of skilled professionals are developing and producing next generation technology here that power and connect our lives in the global marketplace.

Sample companies: GLOBALFOUNDRIES, Tokyo Electron, Free Form Fibers

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Off-Shore Wind & Clean Energy

Home to New York’s northern-most, year round seaport with critical rail connections, and located at the nexus of interstates 87 and 90 providing accessibility to multi-state supply chains, the Capital Region stands as a strategic offshore wind component manufacturing and staging location.  In addition to off-shore wind development, the Capital Region supports advancements in additional clean energy sub-sectors including solar, battery/storage, geothermal and smart grid.

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

 

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Digital Gaming

The Capital Region has been making waves in the digital game industry for more than two decades. It is the home of Vicarious Visions [acquired by Activision in 2005], which worked on Guitar Hero III: Legends of Rock, the industry’s first billion-dollar title. In addition to prominent studios, the gaming cluster has a broad and vibrant ecosystem of independent studios and startups.

Highlights: $9.88M in private investment since 2016; NYS ESD $220.000 investment in Digital Gaming Hub at Rensselaer Polytechnic Institute

Sample companies: Vicarious Visions, PubG Madglory, WB Games

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Biotechnology / Life Sciences

The Capital Region is home to the legacy of medical equipment manufacturing in “Catheter Valley” during and after World War II. Cutting-edge biotech/life science and pharmaceutical firms benefit from a vast talent pipeline and R&D infrastructure and our unique mix of R&D and manufacturing capabilities make the region a bench-to-bedside model.

Highlights: The National Institute of Health (NIH) on average annually awards more than $50 million to Capital Region biopharma and life sciences companies and R&D centers.

Sample companies: Regeneron, AMRI, AngioDynamics, Taconic Biosciences

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Advanced Materials

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 

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

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Software / Information Technology

Companies in this sector study, design, develop, implement, support or manage computer-based information systems, particularly software applications and computer hardware.

Highlights: Forbes in 2016 named Albany the nation’s third best place to find a job in technology, with employment in Albany County alone tripling over the past five years.

Sample companies: CommerceHub, Transfinder, Dealer Socket (Formerly known as AutoMate Dealership Systems)

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Non-Technology Sectors

Logistics & Distribution

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.

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Creative Economy

In 2018, the region’s creative economy had 37,437 workers, including wage and salary employees plus freelancers, up 800 workers, or 2.2 percent, from the previous year. That meant the creative economy has more workers than the region’s manufacturing sector, but less than its health care, retail trade and food services sectors.

The region’s creative economy is divided into seven creative segments, the largest of which is Agriculture and Artisan Food (28 percent), Media (22 percent) Design (16 percent), Artisan Restaurants (12 percent), Performing Arts (10 percent), Museums and Preservation (6 percent), and Visual Arts and Handcrafted Products (6 percent). Within these segments are 121 creative industries. These creative segments add to the economic activity throughout the eight counties but also to their vibrancy, which is crucial for attracting new companies and talent to them and retaining those already here.

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Tourism

Our region includes more than 350 tourist destinations, accounting for $2.4 billion in visitor spending in 2014. Four seasons of outdoor pursuits. World-class arts, culture, dining and sports. The Adirondack Park – at 6 million acres, it is the largest protected area in the continental U.S.; larger than Yosemite, Everglades, Grand Canyon and Yellowstone National Parks combined. Lake Placid was 2-time host to the winter Olympic Games. The Saratoga Race Course is one of the oldest and most prestigious horse tracks in America. The Catskill Mountains include one of the largest and most complex natural areas in the east.

Location, location, location. We have something for everyone here in NY’s Capital Region!

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Call CEG today and learn how we can help you grow in any of these sectors.

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