Capital Region Rates High in Potential COVID-19 Economic Recovery National Analysis

In a recent article, Bloomberg determined that the Albany-Schenectady-Troy MSA is one of the best equipped areas in the country to recover from the current pandemic. Ranking cities and MSAs by regions, the Albany-Schenectady-Troy MSA ranked second in the Mideast region behind the Washington DC MSA and ahead of the City of Rochester. The rankings were calculated based on a combination of demographic and economic factors.

Two of the factors highlighted in the article were areas with many educational institutions and a strong health care sector. These are two of the Capital Region’s biggest strengths. In a recent analysis of employment in NAICS code industries in the region, CDRPC identified the Health Care and Social Assistance industry being the biggest industry in the region with approximately 79,470 people employed. Specifically, there are approximately 22,912 people working in hospitals in the region. This, combined with the region’s high number of colleges and universities, puts the region in a strong position to recover from the pandemic.

Check out the full Bloomberg article here.