{"id":31724,"date":"2019-03-14T10:58:34","date_gmt":"2019-03-14T14:58:34","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=31724"},"modified":"2019-03-14T14:24:27","modified_gmt":"2019-03-14T18:24:27","slug":"ceg-official-area-counties-seeing-good-economic-growth-compared-to-other-areas","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2019\/03\/ceg-official-area-counties-seeing-good-economic-growth-compared-to-other-areas\/","title":{"rendered":"CEG Official: Area Counties Seeing Good Economic Growth Compared To Other Areas"},"content":{"rendered":"<figure id=\"attachment_31725\" aria-describedby=\"caption-attachment-31725\" style=\"width: 198px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-31725\" src=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2019\/03\/ceg-kennedy-c-198x300.jpg\" alt=\"\" width=\"198\" height=\"300\" srcset=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2019\/03\/ceg-kennedy-c-198x300.jpg 198w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2019\/03\/ceg-kennedy-c.jpg 440w\" sizes=\"(max-width: 198px) 100vw, 198px\" \/><figcaption id=\"caption-attachment-31725\" class=\"wp-caption-text\">Andrew Kennedy, president and CEO of the Center for Economic Growth.<br \/>Courtesy CEG<\/figcaption><\/figure>\n<p>By Greg Hitchcock<br \/>\nWarren and Washington counties are benefiting from the economic growth in the region spearheaded by Saratoga County. The growth is continuing in 2019, according to the Center for Economic Growth.<br \/>\nAccording to data from the Bureau of Economic Analysis, U.S. Department of Commerce, 17 counties in New York state had employment gains from June 2017 to June 2018 with Saratoga County having the largest gain up 2.7 percent.<br \/>\n\u201cAll three counties have grown their private sector over the last five years with GlobalFoundries kicking off this growth,\u201d said Andrew Kennedy, president and chief executive officer of the Center for Economic Growth, an economic and business development agency serving as a primary point of contact for businesses interested in growing in or moving to the Capital Region.<!--more--><br \/>\nGlobalFoundries is an American semiconductor foundry headquartered in Santa Clara, Calif. The Emirate of Abu Dhabi is the owner of the company through its subsidiary Advanced Technology Investment Co.<br \/>\nIn 2014, the Silicon Valley Company established a U.S. chip making plant Fab 8 within Luther Forest Technology Campus in Malta that employs 3,400. Although it recently faced layoffs, it is still an economic force that has contributed to growth in Saratoga, Warren and Washington counties.<br \/>\n\u201cGlobalFoundries allowed for the expansion of other Saratoga County businesses and spilled off to other counties,\u201d Kennedy said.<br \/>\nManchester Wood in Granville closed in 2018, but Kennedy said he has seen other companies grow and expand in the area with new industries.<br \/>\nThe Bureau of Economic Analysis reported New York County ranked 44th\u00a0with an over-the-year wage gain of 4.4 percent. Saratoga County ranked 50th\u00a0and Albany County 59th\u00a0among the 349 large counties in the nation with over-the-year wage increases of 4.3 and 4.2 percent, respectively.<br \/>\nAlong with the increase in wages, employment rose in 17 of the 18 largest counties in New York from June 2017 to June 2018. Five counties (Saratoga, Kings, Queens, Rockland, and Orange) had employment growth above the national rate of 1.5 percent.<br \/>\nBuilding has also taken off in Saratoga County. In 2017, the U.S. Census Bureau reported 1,122 building permits in Saratoga County.<br \/>\nKennedy said Glens Falls is a revitalization success story through revitalizing its downtown and said the area has seen a decline in support service jobs, but a larger growth in manufacturing jobs.<br \/>\n\u201cWe focus our attention on manufacturing and technology companies,\u201d he said.<br \/>\n\u201cWe are well insulated by our diversity and incentives making us attractive to investors,\u201d Kennedy said. \u201cWe have been better off than other counties in upstate New York. Our quality of life, diversity, and public-private partnerships are selling points.\u201d<br \/>\nCEG provides funding and other support services to new and existing companies to remain competitive including energy efficiency programs.<br \/>\nAccording to Kennedy, the CEG invested $1 million providing services to industry and local companies and has helped 20 companies in the last five years.<br \/>\nAmong those that have benefited include Darn Good Yarn in Clifton Park, Cascade Tissues in Waterford and Cambridge Valley Veterinary Hospital in Cambridge.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Greg Hitchcock Warren and Washington counties are benefiting from the economic growth in the region spearheaded by Saratoga County. The growth is continuing in 2019, according to the Center for Economic Growth. According to data from the Bureau of Economic Analysis, U.S. Department of Commerce, 17 counties in New York state had employment gains [&hellip;]<\/p>\n","protected":false},"author":196,"featured_media":31725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>CEG Official: Area Counties Seeing Good Economic Growth Compared To Other Areas - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2019\/03\/ceg-official-area-counties-seeing-good-economic-growth-compared-to-other-areas\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"CEG Official: Area Counties Seeing Good Economic Growth Compared To Other Areas - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"By Greg Hitchcock Warren and Washington counties are benefiting from the economic growth in the region spearheaded by Saratoga County. 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