Local manufacturing sees growth despite pandemic
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The Center for Economic Growth says the Albany area’s manufacturing sector kept chugging along during the pandemic.
The Albany metro area had the ninth-largest annual production growth among mid-sized metros nationwide, according to CEG’s analysis of new data from the U.S. Bureau of Economic Analysis.
The manufacturing sector of the five-county Albany-Schenectady-Troy metro had a gross regional product of $6.1 billion, up 3.9% from the previous year.
The key drivers included GlobalFoundries in Malta, which made computer chips to help counter the global shortage, and Regeneron
Pharmaceuticals in East Greenbush as it made the monoclonal antibodies used to treat COVID-19.