Albany Has 10th Largest “High Tech” Industry among Mid-Sized Metros
New U.S. Census Bureau experimental data shows that, among mid-sized metros, the Albany-Schenectady Troy metropolitan statistical area’s high tech industry has the 10th most jobs in the U.S. and the second most among those in the Northeast.
Reinforcing the Albany metro area’s claim to being a “Tech Valley, the Census Bureau found the five-county MSA had 25,502 jobs at 1,003 high tech establishments in 2020. That was the 49th most high tech jobs among all U.S. metros and the 10th most among mid-sized metros with populations between 250,000 and 999,999. In the Northeast, Bridgeport was the only mid-sized metro with more high-tech jobs (46,794).
High Tech Industries
Under a new experimental data initiative, the Census Bureau calculated the number of jobs in high tech industries in MSAs nationwide. “High tech” includes a set of 11 STEM-oriented industries, such as Semiconductor and Other Electronic Component Manufacturing (e.g., GlobalFoundries in Malta), Scientific Research and Development Services (e.g., GE Research in Niskayuna), Software Publishers (e.g., Transfinder in Schenectady), and Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (e.g., MTI Instruments in Albany).
Growth
The Albany metro area’s high-tech industry has tripled in size since 1978, when there were 8,767 jobs. Over the last five years (2016-2020), its employment grew by 23 percent. That made it one of only three Northeast metros to ranking among the nation’s top 75 fastest-growing high tech metros, with the other two being Binghamton (53 percent) and Ocean City (24 percent).
Intensity
In 2020, high tech jobs accounted for 7.1 percent of total employment. That gave the Albany metro the 39th highest high tech employment intensity among all MSAs and the 21st highest among mid-sized MSAs. In the Northeast, only the Bridgeport (10.8 percent), Trenton (9.5 precent) and Manchester-Nashua (9.4 percent) mid-sized metros had higher high tech employment intensities.
CEG INITIATIVES
CEG has a decades-long tradition of supporting the Capital Region’s high tech industry. CEG consistently represents the Capital Region at semiconductor industry events worldwide. CEG is also serving as a group sponsor several high tech apprenticeship programs, maintenance technicians at GlobalFoundries and software developers.
CEG also promotes the region’s high tech industries, including R&D to Commercialization and Advanced Electronics at conferences and other events worldwide, such as Semicon West. that highlight the strength and size of the advanced electronics R&D and manufacturing sector.
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