Steven P. Delarge notes that in these trying economic times, any news is good news for the citizens of his hometown of Albany, NY. The capital region of New York is experiencing healthy economic growth, thanks to a partnership between New York State and local industry, Steven P. Delarge reports.
According to businessman Steven P. Delarge, the industrial rebirth of Albany began with the funding of the College of Nanoscale Science and Engineering at the State University of New York in Albany. When combined with participation from 300 global corporations, this investment has served as an incubator for microelectronics research, which making New York a vital part of this exciting megatrend, says Steven P. Delarge.
In order for this investment to be successful, Steven P. Delarge points out that research must be translated to industry. Thanks to a multi-billion dollar investment by Global Foundries, Steven P. Delarge says that is now a reality. Steven P. Delarge points to an advanced 300mm fabrication facility located in nearby Malta, New York to help bring Albany to the forefront of technology.
The fabrication plant has not only helped Albany advance in technology, but other businesses are now relocating support operations to the area near the new plant, Steven P. Delarge adds. This helps facilitate continual manufacturing production, as well as business growth, according to Steven P. Delarge.
In addition to business relocation, new housing is being built to accommodate all the employees being brought into the area, reports Steven P. Delarge. New hotels and restaurants are also under construction, adds Steven P. Delarge. All of this means an increase in area employment as well as a surge in business for local builders.
In even better news, local government officials have pledged additional investment in the Albany campus, Steven P. Delarge says. According to Steven P. Delarge, this will come in the form of construction of an impressive expansion to the Nanotechnology site. This, Steven P. Delarge believes, illustrates how seamlessly business and government can work together to foster overall economic growth in an area.
The growth of the semiconductor industry in the Albany, New York area is an example of how economic growth feeds additional economic success. As Steven P. Delarge concludes, by partnering with the government, businesses in the Albany area have been able to create an economic environment that brings jobs and growth even during these tough times.