Capital Region
Economic Profile
The Capital Region, which includes the counties of Albany, Rensselaer,
Saratoga, and Schenectady counties, is the center of New York’s Tech Valley. Nearly
850,000 live in the four-county metro, and 1.1 million in the greater Capital Region.
Our economy is witnessing its most exhilarating period of growth in decades with
nearly $30 billion in investment over the last ten years. We are located in the
middle of the world’s richest marketplace - 150 miles north of New York City, 165
miles west of Boston, and 215 miles south of Montreal.
At a Glance
Climate & Setting
Metro Population: 880,400
Major Industries: Government, Health Care, Technology
Gross Metro Product: $60.4 billion
Median Household Income: $60,784
Median Home Price: $191,600
Job Growth (2014): 1%
Cost of Living: 0.6% above National Average
College Attainment: 34.3%
Net Migration (2014): 20
The Capital Region enjoys four distinct seasons, and each
brings its own unique beauty. We get approximately 38
inches of rain per year, about the U.S. average, and 125
days with measurable precipitation. Average snowfall is
47 inches. A typical year sees 177 sunny days with July
highs of around 83 degrees and January lows of about 14
degrees. Our comfort index, based on humidity during the
hot months, is 51 compared to a national average of just
44.
Source: Forbes.com, 2015
Time Zone: Eastern
Elevation: 378 feet
Daily Print Communications
Daily Gazette
The Record
Saratogian
Times Union
Broadcast Communications
TV: 8 network affiliate stations; cable stations vary by
provider
Radio: 8 AM stations; 32 FM stations
Unemployment Rates by County
9
8
7
5
5.8
5.1
4.7
4.9
5.1
5.6
4
4
4.2
3.8
4.2
3
2
1
4.7
4.8
United States
5.6
New York State
5.2
4
Capital Region
Percentage
6
0
Nov-14
Dec-13
Albany
Rensselaer
Nov-15
Saratoga
Schenectady
Source: Capital District Regional Planning Commission
Regional Age Range
0-14
15-24
25-44
45-64
Per Capita Income by County
65+
Albany
Source: 2010 Census
Rensselaer
Saratoga
Schenectady
Source: 2008-2012 ACS
Regional Ethnicity
White
Black
Native
American
Asian
Two or
more races
Hispanic
or Latino
Other
84.4
6.5
0.2
2.7
1.9
3.9
0.4
Source: Cornell University (based on U.S. Census 2010)
Top 25 Private-Sector Employers
Rank
Total Local
Staffing
Company
Business Description
Source: Albany Business Review, July 4, 2014
Cost of Living Index
Here is how Albany metro compares to other metropolitan areas:
The Index measures relative price levels for consumer goods and services in participating areas. The average for all participating
places equals 100, and each city’s index is read as a percentage of the average for all places.
Overall
(National
Average=100)
Grocery
Housing
Utilities
Albany
111.1
106.1
122.6
90.5
106.8
100.4
112.9
Boston
142.6
105.7
190.9
147.8
109.4
129.1
129.4
Chicago
116.2
112.4
136.8
104.6
116.6
98.9
1005.8
Stamford
147.1
128.1
210.9
130.4
108.5
114.8
123.9
Los Angeles
139.1
106.1
212
114
127.5
109.9
106.1
New York City
225.8
125.2
457.7
130
128.3
115.8
149.6
Washington, DC
145.9
110
248.7
96.5
111.7
94.3
107.4
Philadelphia
119.6
115
136.1
121
108.8
99.9
113.5
San Francisco
174.7
126.1
319.7
106.2
124.5
118.6
117.7
Seattle
138.2
121.5
184.2
105.1
119.2
120.6
125.6
Metro Area
Transportation
Health Care
Source: The Council for Community and Economic Research, February 2016
Misc.
Transportation
Higher Education
Education
Albany International Airport (ALB)
737 Albany-Shaker Road, Albany
518.242.2200 | www.albanyairport.com
Airlines:
• American Airlines
• Cape Air
• Delta
• JetBlue
• Southwest
• United
Amtrak - Rensselaer (ALB)
East Street, Rensselaer
The ninth busiest rail station in the country serving
more than 800,000 people each year, this multi-level
facility features adjacent open and covered parking,
and retail, commercial and meeting space.
518.462.5763 | www.amtrak.com
Amtrak - Schenectady (SDY)
332 Erie Blvd, Schenectady | 518.346.8651Amtrak
Amtrak - Saratoga (SAR)
26 Station Lane, Saratoga Springs | 518.587.8354
CDTA
The Capital District Transportation Authority (CDTA)
operates regular route bus service, shuttle systems
and paratransit in the Capital Region. CDTA owns and
operates the Rensselaer Rail and Saratoga Springs Train
Stations. CDTA also operates the Northway Commuter
Service between Saratoga County and downtown Albany.
518.482.8822. | www.CDTA.org
Nearly 80,000 college and university students called
the Capital Region home. Following is a list of higher ed
institutions ranked by enrollment (Fall 2013):
1. University at Albany, State University of New York (17,195)
2. Hudson Valley Community College (12,252)
3. Rensselaer Polytechnic Institute (7,028)
4. Schenectady County Community College (6,440)
5. The College of Saint Rose (4,500)
6. Siena College (3,139)
7. The Sage Colleges (2,885)
8. Skidmore College (2,632)
9. Union College (2,242)
10. SUNY Empire State College (1,568)
11. Albany College of Pharmacy and Health Sciences (1,565)
12. Mildred Elley College and Austin School of Spa
Technology (1,675)
13. Maria College (866)
14. Albany Medical College (823)
15. Bryant & Stratton College (479)
16. Albany Law School (477)
17. Union Graduate College (438)
18. SUNY Poly College of Nanoscale Science &
Engineering (400)
• Excelsior College*
*not ranked; distance learning institution
Source: Albany Business Review Book of Lists 2015