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. cities 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.
The Tech Valley initiative that started nearly a decade ago is now starting to pay dividends with Albany’s College of Nanoscale Science & Engineering (CNSE) and the Global Foundries chip plant in Malta, NY. In addition, Schenectady’s General Electric is adding 500 employees at its alternative energy division and is building a 350 employee battery factory as well.
Forbes designation signifies the region now has a recognized high technology sector that is powering the local economy.