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Albany NY Ranks 84th in World as an Economic Engine

The Albany Business Review reported last week that Albany NY as an economic marketplace ranks fourth in New York State behind New York City, Buffalo-Niagara Falls, and Rochester.

Citing a report by the Conference of Mayors, the articles notes that the measure used,  GMP, (Gross Metro Product), is a metro-specific value comparable to Gross Domestic Product (GDP). GDP is a tally of the market value of goods and services produced in a national economy….one of the primary statistics used to gauge the health of a nation’s economy.”

The article goes on to make an interesting additional comparison between Albany NY’s GMP and the Gross Domestic Product of countries around the world. This analysis indicates that the Albany-Schenectady-Troy area would rank as the 84th largest country in the world in terms of the size if it’s economy were compared with the GDP of the 197 countries surveyed. MORE

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