 Welcome to the Capital Region! We are excited to share with you some of the many reasons that make the Capital Region an attractive place to do business. A strategic location with proximity to all major markets of the northeast, an extraordinary quality of life with a mix of suburban/rural communities and medium sized cities, including the Capital City, a highly skilled workforce and our many world renowned academic and research institutions provide unparalleled economic development potential—as well as opportunities for companies to grow and expand, especially in high tech and knowledge based industries. The Capital Region is quickly becoming the center of New York State’s “Tech Valley”, a region based on innovation and invention. At its core is the strategic investment in the emerging New Economy which encompasses the area’s industry clusters: bio/life sciences, nanotechnology, chemical manufacturing, semiconductor development and clean energy production. Our investments in major ventures like Globalfoundries at the Luther Forest Technology Campus inSaratoga County and General Electric’s sodium battery plant in Schenectady are creating jobs and positioning the region as a leader in the technology of the 21st century. We are proud to be home to a wealth of cutting edge forerunners across these targeted sectors such as AmRI, Angiodynamics and International SEMATECH. The region also boasts 21 institutions of higher learning with a student population of 65,000. These are home to some of our most valuable and flourishing research and development facilities such as the Center for Excellence in Nanoelectronics at CNSE’s Albany NanoTech and the Center for Integrated Electronics at Rensselaer. Partnerships with these educational resources are invaluable and key to the region’s development, allowing for the commercialization of products and technologies and attracting critical private sector investment in the emerging high technology fields. The team at Empire State Development’s Capital Region regional office is here to assist you through our wide range of support services and resources needed to successfully establish or grow your company in the Capital Region. Let us walk you through the various economic development programs available and help you identify and fulfill your business goals. Welcome! Peter Wohl ESD Capital Region Regional Director 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. NYS Authority Budget Office IDA Directory “In the late 90s, we discovered that we had a lot of inno-vative companies in our community that were really operat-ing under the radar,” says Mark N. Eagan, CCE, president and CEO of the Albany-Colonie (NY) Regional Chamber of Commerce. “Here we had companies like Albany Molecu-lar Research, Inc., which developed the allergy medicine Allegra. Vicarious Visions, a tiny company started here by two brothers, developed the Guitar Hero video games that are now played in homes around the world. People thought of Albany, NY as state government, eds and meds, but we recognized that our real growth opportunity was in technology.” In 1998, the Albany-Colonie chamber began referring to the area as Tech Valley, only to have the label panned by the community and local media. But as the brand began to shape economic development and talent attraction strategy, and as neighboring chambers bought into the new regional identity, success followed. Among the most notable and transformative developments was the decision by the University of Albany to launch a program focused on nanotechnology. Sensing opportunity, the Tech Valley Chamber Coalition — by this time a partnership of 23 chambers stretching from just north of New York City to just south of Montreal — attracted support to enable the University to create a new College of Nanoscale Science and Engineering. It was the world’s first college devoted to nanotechnology. “Within this complex — an 80,000 square foot facility — $5.5 billion has been invested,” says Eagan. “The University has been able to attract corporate partners from around the world to come here to do research.” And, as companies with an inter-est in the local research facilities flocked to Tech Valley, Eagan and his coalition partners have lobbied them hard to bring their business with them. Right now the region boasts a $4.2 billion semiconductor manufacturing plant under construction by Advanced Micro Devices and GLOBALFOUNDRIES. And GE is building a $100 million battery plant in the region. “Ten years ago, if you called this Tech Valley, people rolled their eyes,” says Eagan. “Today, those same people are helping to spread the word far and wide that Tech Valley is the place to be if you’re an innovative company or somebody who wants to dive into some of the most exciting work being done in the tech sector anywhere in the world.” American Chamber Commerce Executive (ACCE) Chamber Executive Magazine Summer 2010 issue |
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