The Capital Region is an attractive place to do business. Among its assets are: a strategic location with proximity to all major markets in the northeast; an extraordinary quality of life with a mix of suburban rural communities and medium sized cities, including the New York State Capital, Albany, NY.

High levels of social and economic integration have helped major metropolitan areas concentrate much of the nation’s economic growth. Through the implementation of the CREDC’s updated strategies,  we will prove how the whole is greater than the part.

Our vision, economic goals and regional priorities for the 2024-2028 period are as follows:

 Economic Development Goals

  • Net employment gain at 20,000
  • Net population gain at 30,000
  • Increase the region’s labor force by at least 7,000
  • Lower the unemployment rates by 2 percentage points for Black and African American and Hispanic and Latino workers
  • Net increase in the Capital Region’s number of housing units by 26,600
  • Launch at least 50 new manufacturing and/or tech-related start-ups, annually
  • Attract more than $2 million in non-dilutive or seed funding for start-ups and/or early stage, high growth potential companies, annually
  • Limit the elevation of the region’s severely cost-burdened household ceiling rate to no more than 3 percentage points through a combination of higher wages via upskilling and more housing inventory
  • Grow the Gross Regional Product to 2.0 percent 

Regional Priorities

  • Economic Growth
  • Social and Economic Integration
  • Community Vibrancy and Sustainability 
  • 3

    Albany’s Rank in U.S. News “10 Best Places to Find a Job in Technology”
  • 7

    Capital District Rank in Forbes “U.S. Cities Where Manufacturing Is Thriving”

Nine Pin Ciderworks LLC

To meet growing demand for hard cider products and better accommodate visitors to its on-site tasting room, Nine Pin needed to invest in new machinery and equipment and facility renovations.

Hudson Hall

From a formerly condemned building, Hudson Hall has been established as the City of Hudson’s anchor cultural institution, offering expanded arts and community programs, furthering tourism and driving the Capital Region’s creative economy.

RNA Institute, University at Albany

Research at the RNA Institute will facilitate the commercialization in New York State of novel RNA technologies and medicines to treat infectious diseases, neurological diseases and cancer.

More About the Capital Region

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Michael Yevoli, Regional Director