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Suburban Albany NY is a Good Place to Grow a Business

suburban albany autumn treesA recent story in Business Week put the Albany, NY region #20 in the nation’s top job markets. And much of that growth is happening in the fast-growing suburbs.

With almost a quarter of companies in the region planning to hire in the third quarter of 2013, Albany’s employment picture is among those least affected by the recent recession. Even state government has begun hiring again.

All of this is good news for the region’s small and medium-sized businesses, many of whom are now reexamining their office space options. The long-term exodus to suburban office locations continues, as companies seek more comfortable commuting, parking, and nearby amenities to attract and retain the best workforce.

Growth Spans Multiple Sectors

According to the Business Week report, strong area growth is happening in the wholesale and retail trade, professional and business services, and the leisure and hospitality industry.

Such diverse expansion is visible along all of the major suburban corridors. Along the popular north-south Wolf Road corridor, for example, a major new bank headquarters as well as new hotels, restaurants, and national retailers are setting up shop.

The nearby College of Nanoscale Science and Engineering, part of the region’s strong technology and innovation higher education complex, continues to draw in a highly educated workforce from around the globe, and to spawn all kinds of startup businesses, as do numerous other universities and innovation incubators.

All of this creates a favorable environment for companies launching and growing in Albany, and is attracting more companies to look to the region as a place to expand.

Suburban Attractions

Business owners who choose suburban office space in Albany like the advantages of easier commuting access and proximity to convenient venues for everything from business lunches to business services.

““Our staff are thrilled with this location,” notes Jan Marie Chesterton, president of New York State Hospitality and Tourism Association. “When we first moved from downtown Albany to a Wolf Road office location in 2002, they were ecstatic. Downtown Albany didn’t offer the shopping or food opportunities. We gave up paid indoor parking. But it was worth it. Out here we’re close Colonie Center, restaurants, grocery shopping, and services of all kinds.  I know a fair number of my staff do their grocery shopping at Hannaford before or after they come to work.  It’s very convenient.

Some forward thinking companies also find sustainability advantages in suburban locations. Despite the fact that suburban locations usually require employees to commute, they offer infrastructure advantages for energy efficiency. Financial incentives are encouraging more proactive property managers to invest in energy efficiency technologies for their office buildings. And, according to Anthony Townsend, director of the Institute For the Future, it can be easier to replace infrastructure to get the benefits of new technology.

The Anderson Group is among such companies, noted managing partner Andy Anderson in a recent post. “We’re investing heavily in the two biggest drivers of utility costs – HVAC systems and lighting. Utilizing available energy efficient lighting and HVAC saves energy, reduces cost and helps us run our office buildings more efficiently.” Read more on The Anderson Group’s ongoing energy efficiency upgrades here.

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