11/16/2019

Bold Action to Bolster Economic Resilience

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.

Venture capital continues to stream in at higher levels than anywhere else in the country. New company-sponsored research and startup incubators spring up like mushrooms in a damp forest. Hardly a week goes by that foreign delegations don’t visit to learn how they can replicate the secret sauce of our success. Did we mention the Golden State Warriors are undefeated – 22-0 at the time of this writing.

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