COLONIE — The Capital Region has four major industry clusters: digital gaming, semiconductors, clean energy and life sciences, according to a new study for the Center for Economic Growth.
And there are also two other industries that the capital region should promote, according to the study: climate technology and artificial intelligence, or AI for short.
The study, carried out by real estate consultancy Newmark, found that these two “emerging areas” could develop into distinct clusters that should be monitored and supported where possible.
“Leaders in the region should explore opportunities in these areas and support their development,” Newmark noted in the study.
In fact, both the University at Albany and Rensselaer Polytechnic Institute offer programs in AI and climate technology.
CEG is a nonprofit organization committed to regional job creation and workforce development.
“The overall goal of this effort was to develop a cluster-driven economic development strategy focused on industries in which the Capital Region is currently or can become highly competitive on a national or global level,” said Katie Newcombe, director of economic development at CEG Officer. “It’s about attraction and developing our own personalities.”
The Newmark study, released last week, focuses on leveraging the region’s business assets and using them to create long-term jobs. The study found that the region needs to leverage the region’s two most successful research universities: UAlbany and RPI.
The region’s climate technology resources include UAlbany’s Atmospheric Sciences Research Center and New York State’s Mesonet Network, as well as RPI’s Jefferson Project, which includes IBM Research and the Lake George Association.
UAlbany, GE Research and RPI also have large AI assets.
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