Capital Region Listed In Forbes "Best Places To Look For A Job"
NY Realtors state that this designation comes as no surprise. The Tech Valley initiative that started more than a decade ago is now starting to pay dividends with IBM's powerful new 32-nanometer chip at Albany's College of Nanoscale Science and Engineering (CNSE) and Global Foundries chip plant in Malta NY.
- Albany-Schenectady-Troy, NY (1888PressRelease) March 15, 2012 - The Capital Region was ranked fourth among 10 metropolitan areas featured by Forbes magazine in its annual list of Best Cities for Jobs. The list took into account the 100 largest U.S. metropolitan areas and was based on a number of statistics, including unemployment rate, household income and projected job growth. Forbes ranked Washington, D.C., Des Moines, Iowa and Poughkeepsie-Newburgh as 1st, 2nd and 3rd respectively.
NY Realtors state that this designation comes as no surprise. The Tech Valley initiative that started more than a decade ago is now starting to pay dividends with IBM's powerful new 32-nanometer chip at Albany's College of Nanoscale Science and Engineering (CNSE) and Global Foundries chip plant in Malta NY. In addition, CNSE is building an additional 500,000 square foot onto its existing 800,000 square foot building and is expected to add 800 workers to the 2,600 people already employed at the campus. Albany, like a lot of the cities on this list, is a state capital. But Schenectady's General Electric is adding 500 employees at its alternative energy division and is building a 350-employee battery factory as well. There has been increased activity for real estate in Schenectady over the past six months and the carry-over is felt as well with the commercial real estate listings in NY.
In today's economy, jobs area what it's all about. This area has developed a program for job creation that's actually working and being recognized throughout the country. In addition, the area has weathered the national recession well and now seems poised for new market growth. The Capital Region Multiple Listing Service reports that both new and existing home sales jumped 26% in January from a year earlier, making it the strongest January in years.
The State Department of Labor statistics show moderate growth throughout the Greater Capital Region and ended 2011 with a net gain of 2,900 private sector jobs, marking the strongest year since the economic downturn in 2008.
Realtors in Albany believe that the steady growth in the research and development sector could forecast a very bright future. The Capital Region is finally starting to see a snowball effect from all the efforts to bolster high technology companies. Forbes designation signifies the region now has a recognized high technology sector that is powering the local economy.
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