Steven Delarge: Albany’s Recent Economic Growth

About

Steven Delarge is a New York-based businessman with a long history of creating success in the chemical, aerospace, and energy industries. He is an accomplished leader in Business Profitability, Acquisitions and Mergers, Controllership as well as Treasury and Auditing. Steven Delarge has spent much of his career serving at General Electric. When GE’s chemical manufacturing division split off to form Momentive Performance Materials, Steven Delarge led the way, acting as CFO and later President and CEO of this $2.4 billion specialty chemical business.

Steven Delarge has noticed, during time spent in Albany, that living in the state capital means a strong governmental presence. In fact, according to Steven Delarge, more than a quarter of the city’s residents work for state and local government. More work in sectors that support governmental operations and employees—restaurants, law firms, and many others, Steven Delarge relates.

But even though it’s the “capital region” of New York, Steven Delarge  points out that Albany is also known as a university town. The State University of New York (SUNY) has a campus in Albany, one of more than twenty colleges and universities in Albany, Steven Delarge adds. This not only leads to campus-related jobs, but it also brings businesses to town to support the influx of students all these colleges bring.

All of these colleges have also brought technology to the town. Steven Delarge cites the nanotechnology program at SUNY as an innovator in the field. This has enticed many students to the campus, especially after Albany was a recipient of part of a government grant to build nanotechnology research centers throughout the state.

Steven Delarge notes that a deal by Tokyo Electron Ltd. sent chip manufacturing researchers to Albany and other technology researchers followed. Albany isn’t merely a technological marvel, however. Steven Delarge points out that the city is home to manufacturers of paper products, steel, cement, medical products, chemicals, and more.

In 2012, as the country gradually emerges from an economic downturn, Steven Delarge and other city businessmen are watching Albany’s economic development with great optimism. In early May, the nanoscience program at SUNY received national coverage on CBS Evening News, as the network used the jobs created by the program as an example of the recovering economy. Steven Delarge has watched, as others in Albany have, the multitude of press coverage both SUNY’s program and the nearby GlobalFoundries plant in Malta have gotten.

In a country that centers on technological innovation, Albany is working hard to stay at the top of the technology curve. Steven Delarge believes that by attracting students who will learn pioneering methodologies, the city will be prepared for a local workforce that is ahead of the rest of the country. This, says Delarge, will always have a positive impact on the local economy.

But the large governmental population cannot be ignored. Steven Delarge emphasizes that Albany will always have a large sector employed by state and local government. As such, the ability to competitively attract good employees and industry to provide support to the citizens of Albany will still be important, concludes Delarge.


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