Courtesy SEDC
By Greg Connors
In 2024, with just over $177M in new investment, the planned creation of approximately 650 new full-time job opportunities and the successful retention of over 200 jobs, economic development in Saratoga County has experienced a successful year.
In 2024, we also welcomed the arrival of both Regeneron and Soleno our 2 newest international companies to call Saratoga County home and the good news of the planned expansion of GlobalFoundries in Malta & Stillwater.
As we look into our 2025 crystal ball and measured by the early activity and potential projects being considered at this early date, at SEDC, the economic outlook for Saratoga County is very good.
Saratoga County’s quality of life with safe neighborhoods, internationally recognized educational opportunities, world-class arts, cultural and entertainment venues, the birthplace of thoroughbred horse racing, National Parks, 4-season recreational offerings and diverse employment opportunities each by themselves, and more valuable collectively, will support SEDC’s efforts in 2025 to create new investment, new opportunities, job creation and retention.
For the economic sectors we concentrate on, strong interest in expansion at existing sites or new investments in advanced manufacturing, life sciences, the equine industry, healthcare, commercial, industrial and workforce housing will make for a robust collection of opportunities that all residents in the county will benefit from. Strong early interest in the advanced manufacturing supply chain, renewable energy sector and life science represent sectors not previously found at the top of the county’s economic development opportunity list.
Essential to our success in 2025 will be the continuing and collaborative efforts with our partners in state, county and local government along with business development, community stakeholders, individual investors and entrepreneurs to showcase Saratoga County as a great place to live, work, raise a family and a place to make ones next capital investment.
In March, SEDC has planned a 2½ day familiarization tour that will welcome companies, organizations, investors, and economic development organizations from around the world to Saratoga County. Our plans to showcase the opportunities, quality of life and business friendly environment the county is nationally known for will hopefully inspire today’s strangers to become tomorrow’s neighbors.
Of course, predictions of the future, short or long-term are always tempered by unknown events or a series of events that can occur at any time and on any day.
As much as geography separates Saratoga County and our residents from the daily and ongoing trials and tribulations occurring today across the globe, the current geopolitical environment merits our daily attention. Make no mistake, we live, exist and benefit from the global economy.
The hope of course is that world and national events, the transition to a new administration in Washington and a stable economy together with thoughtful, helpful, consumer and economic development friendly laws, rules and regulations from federal and state legislators as well as regional and local government officials will support our economic development efforts and not hurt the success enjoyed in 2024 and the progress we will make together in 2025.