Albany
Travel Guide

Albany, New York 

Economy

 
 

As the state capital, the government is a major employer in Albany with a quarter of the workforce employed in government-related jobs. Education is the second most important sector of the economy and the city has a long history in higher education. Healthcare is a growth industry and another major employer with the Albany Medical Center and St. Peter's Healthcare Services headquartered here. The three sectors provide a sustaining economic base and therefore Albany is more resilient to a national recession. In fact, Albany attracts a workforce of which more than half lives outside the city.

Empire State Plaza, Albany (New York State)

Empire State Plaza government complex by Foofy

Albany is a regional center for higher education with several public and private institutions located here. The effect of the student population is substantial, accounting for more than 60% of Albany’s permanent residents. Universities and colleges here include the University at Albany, Empire State College, Sage College of Albany, Maria College, College of Saint Rose, and Albany Medical College. The Albany College of Pharmacy and Health Sciences is one of the oldest pharmacy schools in New York State while Albany Law School is the oldest.

Albany Medical Center, New York State

Albany Medical Center by Matt Wade

High technology is the fourth sector and an emerging industry that is driving the city’s economy. The University at Albany’s College for Nanoscale Science and Engineering is a leader and one of the best colleges in the country for education, research, and development in nanotechnology. Furthermore, Albany is the epicenter of a 19-county region in eastern New York State known as Tech Valley - one of the fastest growing regions in the United States for technology jobs. In 2009, integrated circuit manufacturer GlobalFoundries opened it manufacturing complex at nearby Malta.
University at Albany, New York State

University at Albany by Diqiu Wang

 
 
 
 
 
 
 
 
 
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