The Capital Region is located in the eastern part of mid-New York State, covering 5,199 square miles and includes the Albany, Troy, Schenectady and Saratoga areas. The region is comprised of eight counties and is known for its large and vibrant economy with a particular focus in biotech life sciences and nanotechnology.

The Capital Region possesses characteristics and a strategic location that positions it well for economic growth in high tech and knowledge-based industries. The confluence of the Hudson and Mohawk Rivers, the transportation hub formed by the intersection of two major interstate highways, excellent proximity to the markets of the northeast and an engaging quality of life all combine to endow the region with unparalleled economic development potential. The region’s human capital – a population of 1.1 million and a workforce of 568,600 is arguably its most significant asset.
 

 

 

General Overview
Area – 5,332.97 square miles
Population (2009) – 1,065,402
By county:
    Albany – 298,284
    Columbia – 61,618
    Greene – 48,947
    Rensselaer – 155,541
    Saratoga – 220,069
    Schenectady – 152,169
    Warren – 66,021
    Washington –  62,753
   
2009 Average Annual Labor Force: 568,600
2009 Per capita income: $28,644

In 2010, the Capital Region earned several accolades, including:

•  "America’s Best Places To Raise A Family,” Albany-Schenectady-Troy, 9^th (Forbes)

•  "America’s Most Innovative Cities,” Albany, 15^th (Forbes)

•  "Best Bang-for-the-Buck Cities,” Albany-Schenectady-Troy, 30^th (Forbes)

•  "Best Cities for College Students,” Albany, 14^th (American Institute for Economic Research)

•  "Best Cities for Job Growth Medium Cities,” Albany-Schenectady-Troy, 17^th (New Geography)

 

BUSINESS INFORMATION

Market Access
Highways
The New York State Thruway connects the region with New York City, the Massachusetts Turnpike (I-90) and western New York State. The Northway (I-87) links the area with major destinations to the north and to the Canadian highway system at Montreal. Interstate-88 provides the region access to the southern tier of the state and to the Pennsylvania markets.

Air Service
As the major air center for the Capital Region, Northeastern New York and Western New England, the Albany International Airport offers a wide-range of facilities and services. A multi-million dollar capital redevelopment project completed in 2000 included a new 230,000 square foot terminal, parking garage, Air Traffic Control Tower and cargo facility. Passenger service is provided by Air Canada, American Eagle, Continental Connection, Continental Express, Delta Airlines, Northwest Airlines, Southwest Airlines, United Airlines, US Airways and US Airways Express.

Rail Service
The Albany Port Railroad Corp. provides service under the supervision of CSX and CP Rail systems. Amtrak, CSX and CP rail systems provide the region with both passenger and intermodal freight facilities, servicing the Northeast, Mid-Atlantic states and Canada with connections nationwide.

Port Services
Ocean-going vessels dock at the deep-water port of Albany Rensselaer, located 124 nautical miles north of New York City on the Hudson River. A 32-foot channel makes the port accessible from the sea year-round. Ships up to 750 feet long and 50,000 deadweight tons are serviced by the port. The New York State Canal System connects the area with the Great Lakes ports of Buffalo and Oswego.

 

Hospitals
Notable hospitals in the Capital region:
Albany Medical Center
Albany Memorial Hospital
St. Peter’s Hospital
VA Medical Center

 

Principal Industries
Biotech Life Sciences
Nanotechnology
Computer and Electronic Product Manufacturing Semiconductor
Forest Products
Travel and Tourism
Chemical Manufacturing
Clean Tech

 

Colleges and Universities
The Capital Region is home to 25 colleges and universities offering over 740 degree programs from the associate to the doctoral level.
Rensselaer Polytechnic Institute (RPI)
University at Albany, SUNY
Union College
The Sage Colleges
Siena College
Skidmore College
The College of Saint Rose
Albany College of Pharmacy and Health Sciences

The region also has an outstanding selection of community colleges.
Hudson Valley CC
Schenectady CC
Fulton-Montgomery CC
Columbia-Greene CC

 

Local Utilities
National Grid
Offers negotiated flexible electric rates for many types of new businesses, negotiable gas transportation rates and fixed rate gas discounts.

Central Hudson Gas & Electric Corp.
Offers fixed rate electric discounts for many types of new businesses and market based gas pricing.

New York State Electric & Gas Corp.
Offers negotiated flexible electric and fixed rate electric discounts for many types of new businesses and negotiable firm gas transportation service.