The Albany-Schenectady-Troy metropolitan statistical area’s manufacturing sector kept strongly producing during the pandemic in 2020, resulting in it having nineth-largest annual production growth among mid-sized metros nationwide. However, despite this sector’s strong performance, the Albany metro area last year sustained its first contraction in gross regional product (GRP) in more
Capital Region personal income last year grew at its fastest rate in 31 years, driven by a $1.8 billion year-over-year increase in unemployment insurance (UI) benefits and additional federal stimulus payments, according to a Center for Economic Growth analysis of new data from the U.S. Bureau of Economic Analysis (BEA).
An Urban Institute “Reenvisioning of Rural America” is honing in on the strengths and potential of the Capital Region’s rural communities while also concentrating the size of its rural footprint. Whereas the federal government has traditionally negatively defined rural areas as any non-urban areas, a new Urban Institute study instead
The Capital Region’s hottest ZIP code for net employer growth is the one covering Ballston Spa and Malta (12020), which includes GlobalFoundries’ Fab 8 chip fab. Other top employer-growing ZIP codes included Latham (12110), Rensselaer-East Greenbush (12144), Albany’s downtown and warehouse district (12207) and Queensbury-West Glens Falls (12804), according to
See CEG’s latest county profiles below. These new promotional materials provide business leaders and talent with insights into the strength of the regional economy and why they should relocate or expand here. Select the link on each image to download the profile. The following county economic profiles are available
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
Business formation continued in the Capital Region throughout 2020 and despite the pandemic. Last year, 9,456 applications to form a business were filed in the eight-county Capital Region, up by 295 (3.2 percent) from the previous year, according to a Center for Economic Growth (CEG) analysis of new U.S. Census
The Capital Region’s ability to attract higher-earning taxpayers helped offset a small contraction in its base of individual income tax filers in 2019, resulting in an annual net gain of wealth, as measured by adjusted gross income (AGI), according to a Center for Economic Growth analysis of new Internal Revenue
Amid the pandemic and as a transformative redevelopment project neared completion on Starbuck Island, Green Island emerged as New York’s fastest-growing town and village in 2020. Three more towns and three more villages from the Capital Region also ranked among state state’s fastest-growing communities, according to a Center for Economic
Faced with slowing international migration and a widening gap between births and deaths, the Capital Region sustained a slight annual population decline in 2020 – the smallest in the state. However, at the same time, the region housed the state’s fastest-growing county and three of New York’s seven counties that
