

Capital Region

New York State’s Capital Region is a center for tech and innovation

The Capital Region offers companies a strategic location close to all major markets of the Northeast, as well as a highly educated and diverse workforce, and an extraordinary quality of life. The region spans cities – the state capital of Albany, Troy, Saratoga Springs and Schenectady – in addition to suburbs and rural communities. An established tech hub, the Capital Region is also home to digital game development and semiconductors among other growth industries. The region’s talent pipeline is supported by 21 institutions of higher learning and recognized around the world for its research and development facilities — both public and private.
Key Industries in the Capital Region


Software and Digital Media

Cleantech and Renewable Energy

Biotech and Life Sciences
We are thrilled that New York State has been selected as the home of our nation’s first NSTC EUV Center. For over 20 years, IBM and our public-private partners at NY CREATES’ Albany NanoTech Complex have produced many of the technical breakthroughs that have propelled the semiconductor industry forward...[to] support the United States' mission to lead global chip innovation.Arvind Krishna, IBM Chairman and CEO

The Capital Region features diverse industry clusters, from biotech and life sciences, nanotechnology and chemical manufacturing to semiconductor development and clean energy production. The area is also home to cutting-edge companies and consortiums, including Regeneron and GlobalFoundries. GlobalFoundries is undergoing a $13 billion modernization of its existing chip fab in Malta and building near it a new state-of-the-art fab – expected to create thousands of manufacturing and 9,000 construction jobs. After constructing an $800 million second campus in Rensselaer County, Regeneron Pharmaceuticals is expanding in Albany and Saratoga counties.

The Capital Region is home to a highly productive, educated workforce where 39 % of workers have a bachelor’s degree or higher, with the third fastest-growing young adult population (25-34 years old) out of the state’s 10 economic development regions, increasing by 3.78 % between 2018 and 2023 (based on five-year estimates). The job market is also strong, with manufacturing employment reaching a 22-year high in 2023 and physical / engineering / biological research services hiring also reaching a record high in that year.

The Capital Region is home to top-tier universities, with research capabilities that are fueling innovation. The University at Albany’s College of Nanoscale Science and Engineering is located at the Albany Nanotech Complex, designated as the nation’s first National Semiconductor Technology Center. IBM, Micron, Applied Materials, Tokyo Electron and other semiconductor companies have entered a $10 billion partnership with NYS for the first and only publicly owned High NA Extreme Ultraviolet Lithography Center at Nanotech. Rensselaer Polytechnic Institute is the first U.S. university to install IBM’s Quantum System One for quantum computing.
Population 2025
Labor Force Status 2025
Age Distribution 2025
Education Attainment 2025
Data source: ZoomProspector (Applied Geographic Solutions)
Doing Business in the Capital Region

Tax-Based Incentives

Operational Support

Growth Support

Innovation Development Support
Consolidated Funding Application
The CFA allows applicants to be considered for multiple sources of funding for a project by filling out just one application. Learn more about ongoing CFA projects and how to apply.
New York State MWBE
Find information to become MWBE-certified; grow your MWBE business; find top opportunities and contracts with NYS agencies; and find MWBE-certified businesses to help carry out your project goals. For the MWBE Hotline, call: 212-803-2414
Explore opportunities in the Capital Region
Visit the Capital Region Regional Economic Development Council site to see strategic plans, current projects and the latest economic data, plus access funding applications and more.
Regional Office
The Capital Region regional office works hand-in-hand with new and existing businesses to help identify economic development programs to support business growth and expansion—for building new facilities, relocating a business, expanding operations and workforce and entering new and global markets.

433 River Street
Suite 1003 (1st floor)
Troy, NY 12180
United States