Albany’s Economy Outpaces Larger Cities
In fact, Albany's economy ranks high worldwide versus many countries! According to an Albany Business Review (ABR) report, Albany overperforms in several key statistics:
- Our economy rank is higher in the US than our population rank (59 and 63 respectively)
- Our economy outperforms several larger cities like Worcester, MA, Fresno, CA and Tucson, AR
- When looking at what the ABR report calls GMP or "...metro-specific value comparable to Gross Domestic Product" Albany's economy is the 78th biggest in the world!
All pretty impressive stats when you think about, it right? While we know locally the Capital Region is pretty populated, compared to many other cities it does not feel that way. And we still for the most part have a pretty good small town feel here in spite of having 3 pretty good size cities (Albany, Schenectady and Troy) right next to each other. Taking that all into consideration, you have to imagine our strong performance compared to that population and other cities is really a great indicator how strong lour local economy and job market is.