What's Happening Now
Briefing on the 2014 Silicon Valley Index
Joint Venture CEO Russell Hancock and Silicon Valley Community Foundation CEO Emmett Carson opened the 2014 State of the Valley with a detailed briefing on the findings in the 2014 Silicon Valley Index, which shows that the regional economy is thriving and expected to get even better. The new prosperity, however, presents daunting challenges to accommodate the growth with sufficient housing, transportation and infrastructure, and is leaving middle and lower income sectors farther behind.
Learn more about the Silicon Valley Index online at www.siliconvalleyindex.org.
Trends Affecting Workforce Development
This report reviews broad economic forces in San Mateo County and the Peninsula and considers their implications for workforce development. The report spotlights the persistence of poverty even in the face of surging job growth, reviews the best practices fostering upward mobility for the workforce, and outlines strategies that can be carried out by workforce boards, community colleges, private industry and community organizations.
Sunnyvale Community Solar Array Development Feasibility Study
This report studies the feasibility and assesses the options for municipalities like Sunnyvale who want to provide residential and commercial subscribers with renewable energy. It follows on the heels of legislation signed into law in September 2013 (Senate Bill 43) which offers new regulatory mechanisms for deploying shared renewables projects in California communities. It also launched the Green Tariff Shared Renewables program (GTSR).
Silicon Valley Index - 2014
The 2014 Silicon Valley Index reveals that the region’s economy is red-hot and leads the nation with extraordinary growth in jobs, income, innovation, venture capital investment and immigration. The comprehensive yearly analysis of the economic strength and overall health of Silicon Valley also indicates that the new wave of prosperity poses greater challenges for the region to accommodate sustained growth and that the gains are bypassing the lowest earning groups, leaving the less affluent further behind than ever.
Smart Energy Enterprise Development Zone (SEEDZ)
Joint Venture's "Smart Energy Enterprise Development Zone" (SEEDZ) initiative unites local energy customers, solution providers, municipalities, institutions and utility interests in building the smart energy network of the future – characterized by the highest levels of power reliability, quality, affordability and sustainability.
In The News
October 21, 2014 - (MIT Technology Review) - Technology and Inequality: "The wealth generated in Silicon Valley is 'as prodigious as it has ever been,' says Russell Hancock, president of Joint Venture Silicon Valley, a nonprofit group that promotes regional development. 'But when we used to have booms in the tech sector, it would lift all boats. That’s not how it works anymore.'" More.
October 19, 2014 - (The Guardian) - Silicon Valley Tries Egg-Freezing Perks: How About Just Hiring More Women? - "They could address the question of unequal pay: men with graduate or professional degrees earn 73% more than do women with the same qualifications, according to a study by Joint Venture Silicon Valley. More.
October 10, 2014 - (ReadWrite) - Microsoft CEO Satya Nadella to Women: Don't Ask for a Raise, Trust Karma: "The gap in income inequality between men and women in Silicon Valley, where technology is a leading industry, is severely imbalanced, according to a 2014 study by Joint Venture Silicon Valley. More.
October 5, 2014 - (The Daily Beast) - Battle of the Upstarts: Houston vs. San Francisco Bay: "The Bay Area gap between white residents (who dominate the tech economy) and minorities is among the highest in the nation while, during the boom, income has fallen for Hispanics and African-Americans, according to Joint Venture Silicon Valley. More.
September 29, 2014 - (Almanac Online) - Silicon Valley Income Gap Continues to Widen: "The increase in the number of high-income Silicon Valley households was nearly five times greater than the increase in total households overall, said Rachel Massaro, Joint Venture vice president and senior research associate for the Institute." More.
October 19, 2014 - (The Guardian) - Silicon Valley Tries Egg-Freezing Perks. How About Just Hiring More Women?: "They could address the question of unequal pay: men with graduate or professional degrees earn 73% more than do women with the same qualifications, according to a study by Joint Venture Silicon Valley." More.
September 25, 2014 - (Palo Alto Online) - Report: Silicon Valley Income Gap Continues to Widen: "Silicon Valley incomes have increased for the second straight year after a three-year downward trend, according to a report released by Joint Venture Silicon Valley Institute for Regional Studies, a nonprofit think tank, on Wednesday." More.
September 25, 2014 - (Silicon Beat) - The Rich Get Richer in Silicon Valley: "According to a new analysis of census data by Joint Venture Silicon Valley Institute for Regional Studies, the income gap continues to widen, as valley households earning $150,000 a year or more mushroomed by 25,000 between 2012 and 2013, the latest figures available." More.
October 6, 2014 - (Silicon Valley Business Journal) - 5 Ways Silicon Valley's Middle Class Could be Saved: "But the hitch in that progression that has grown more obvious in Silicon Valley during the region's current tech boom is the middle class, which contracted 3 percent from 2012 to 2013 alone, according to think tank Joint Venture Silicon Valley. More.
September 24, 2014 - (CNET) - Silicon Valley Household Incomes Growing Again, Study Finds: "'This is striking, given that the increase in the number of high-income Silicon Valley households was nearly five times greater than the increase in total households overall,' (vice president and senior research associate for the Institute Rachel) Massaro said." More.
September 24, 2014 - (Silicon Valley Business Journal) Silicon Valley Median Income Now $94,572 — 43% Higher Than the Typical U.S. Household: "''We need to call it like it is. We need to own up to our dysfunction,' Joint Venture CEO Russell Hancock told me. 'We like all these jobs, but we don’t want to provide the housing.'" More.
September 24, 2014 - (Wall Street Journal) - Silicon Valley Income Gap Continues to Widen, New Study Shows: "'The income gap is becoming more sharply pronounced at a faster rate,' said Russell Hancock, chief executive of Joint Venture Silicon Valley. 'The middle class is disappearing, and the service sector is stuck there with no growth.'" More.