Dec. 8, 2015
The San Francisco Bay Area is an economic powerhouse. The region’s innovation industries, from high tech to biotech, helped lead California out of the Great Recession. We are near full employment in some areas, and are responsible for 53.5 percent of the state’s net job growth since 2007. And while we are home to just 17 percent of the state’s population, we pay 36 percent of total state personal income taxes at a level per capital more than double the statewide average.
Nov. 30, 2015
By U.S. state, the largest expenditures, $48.9 billion, were for U.S. businesses in California. The four largest U.S. states in terms of expenditures by foreign direct investors—California, New Jersey, New York, and Texas—together received over half of all new investment. These four states accounted for 35 percent of private industry GDP in the United States in 2014.
In order to ensure the Bay Area’s economic vitality and resilience despite increasing boom and bust cycles, public and private sector leaders must come together around pragmatic solutions to persistent issues and barriers to success. The purpose of the Regional Economic Strategy Roadmap is to offer concrete actions for growing regional prosperity and a flexible framework for developing actions going forward. Its proposals are evergreen agents of economic resilience, strategies wise in both expansion and downtown, necessary to accelerate the former and dampen the latter. It is a recipe for a robust and enduring regional economy.
Aug. 19, 2015
According to CB Insights data, companies typically close within 20 months of their most recent rounds of financing, with 70 percent dying before raising $5 million. The majority, 55 percent, die before raising $1 million. The explanations for failure are tough to quantify — but the reasons that founders provide publicly serve as a window into common issues in the ecosystem.
July 23, 2015
It’s a shame these programs operate so haphazardly because $5.6 billion, if spent effectively, could be a major factor in bolstering California’s middle class, which is shrinking rapidly, making us a two-tier society with the nation’s highest poverty rate.