Region: Bay Area
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.
The extent of income inequality in any region such as the Bay Area is a result of local, state and national policies, and is exacerbated by economic factors such as technological progress and globalization. And, while local policies alone are largely inadequate to address the issue of extreme inequality, there are a variety of options that can ameliorate the effects. This report includes data on Bay Area income inequality, comparisons to the state and nation, a discussion of the root causes of inequality, and a set of local policy options.
April 3, 2015
The Bay Area’s prosperity is threatened by fragmentation in the public transit system: Riders and decision-makers contend with more than two dozen transit operators. Despite significant spending on building and maintaining transit — and in contrast to the crowding along some key corridors — overall ridership has not been growing in our region.
In this first year, the SVCIP finds that highly productive, talented workers are the undisputed foundation of the region’s strength in innovation and in attracting businesses, despite the region’s high costs. It then identifies the critical public policy issues that need to be addressed to develop, attract and retain talent for the region’s continued success. Those issues include immigration, STEM and early education, housing and transportation. R&D funding, tax policies and the cost of doing business also emerge as issues of strategic concern for the region.
In January 2014, there were nearly 60,000 jobs in Bay Area’s “core” clean economy. These core jobs were in a range of businesses that provide the products and services that allow the entire economy to transition away from fossil fuels and improve efficiencies in the use of natural resources.
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