The remaking of the Capital District and Hudson Valley into what some have called a new "Silicon Valley" took a few more steps forward recently, with first the announcement that Brooklyn based online auction house Etsy.com will be opening offices in Hudson over the coming months, and now an Albany Business Journal report that Microsoft is moving into a prominent State Street space in downtown Albany, while two longstanding firms are also moving to larger spaces in the city’s core.

Microsoft will lease about 5,200 square feet on the seventh floor of 54 State St., said Mark Aronowitz, vice president, real estate services, for building owner Omni Development Co. Inc, who added that the company has a small office downtown at 11 N. Pearl St., but the new office will “substantially increase their presence.” The employees are part of a Microsoft division that has contracts with state government.

Meanwhile, long-time downtown companies UHY New York Inc., an accounting firm, and the law firm Hiscock & Barclay eschewed offers to move to the suburbs as so many other firms have done when their lease expired. Another technology firm, ESRI, which specializes in geographic information systems, is leasing about 1,400 square feet at 50 Beaver St., also owned by Omni. ESRI is based in Redlands, California. For the full story click here.