Is Albany Dead? Albany, NY is rated as number seven on the top ten dead cities list. The Business Review’s Biz Blog reports on the story running WallSt24/7.
From the WallSt24/7 report:
Albany is still the capital of New York State. It was once one of the largest “inland ports” in the world sitting near the place where the Hudson River meets the Erie Canal. This helped it become a major center for finished lumber and iron works. Perhaps because of the influence of the politicians who worked in the city, several universities and colleges were built there. The city’s manufacturing industry helped the population to rise to 134,000 in 1950. it is now under 95,000. The higher education institutions in the region have begun to help Albany become a regional center for information technology and the biotechnology industries, but these are not large enough to offset declines in the city’s fortunes which began in the 1960s.
From Richard D’Errico’s post:
There’s a glimmer of positive news in the story. But it’s fleeting.
“The higher education institutions in the region have begun to help Albany become a regional center for information technology and the biotechnology industries,” McIntyre writes, “but these are not large enough to offset declines in the city’s fortunes which began in the 1960s.”
The other glimmer of positive news was that Albany is not Buffalo. Buffalo topped the list of dead cities, followed by Flint, Mich., Hartford, Conn., Cleveland, New Orleans, Detroit, Albany, Atlantic City, Allentown, Pa., and Galveston, Texas.
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