Essay on Albany, NY and Bakersfield, CA
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Essay on Albany, NY and Bakersfield, CA
Industrial vacancy for the ten-county Capital Region decreased over the last six months. At the end of the second quarter it is 8.4%, down from 9.2% at the end of 2003. This compares favorably to the national average of 10.3% (the average rates for 51 major markets across the country). Total market inventory is currently 57.9 million square feet while available inventory is 4.87 million square feet, down from 5.0 million square feet six months ago.
New York and California are major national center of distribution related activity. Because of New York and California’s locations within the largest concentration of population and wealth in North America, it is a strategic location for the distribution of goods. As a result, the distribution cluster1 employs more than 270,000 New Yorkers and 200,000 Californians at more than 80,000 establishments (Cohen, 1995).
New York and California’s stature in this industry is not surprising. The state possesses a significant number of attributes that are critical to companies engaging in distribution activities. These include:
- A location that is within 500 miles of more than half the population of the United States, and more than 60 percent of Canada’s population.
- More than 112,000 miles of roadway and 1,500 miles of interstate highway.
- More than 500 airports and landing facilities with direct flights to over 150 cities worldwide.
- Ready access to the Great Lakes, St. Lawrence Seaway and the world’s oceans (Horner, 2000).
- More than 4,000 miles of railways.
Regional Highlights
- Distribution companies in the Capital Region employed 15227 at 2,119 establishments in 2001.
- Regional employment was greatest in wholesale durable goods and trucking and warehousing.
- Between 1994 and 2001, regional Distribution employment increased by 13.3 percent, or 1,783 workers.
- The region’s location at the intersection of I-87, I-88 and I-90 makes it a strategic location for serving New England, Mid-Atlantic, Midwestern and Canadian markets.............................
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