Joint Venture Silicon Valley provides ANALYSIS, ACTION, LEADERSHIP

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Joint Venture Silicon Valley provides

ANALYSIS

ACTION

LEADERSHIP

What is Joint Venture Silicon Valley?

Established in 1993, Joint Venture provides analysis and action on issues affecting the Silicon Valley economy and quality of life. The organization brings together established and emerging leaders—from business, government, academia, labor and the broader community—to spotlight issues, launch projects and work toward innovative solutions.

Learn more

What's Happening Now

Joint venture board welcomes new members

March 17, 2023 - The Joint Venture board of directors elected five new members to their body at their quarterly meeting. Unanimously elected were Jon Cowan, Senior Director, Government Relations & Community Partnerships, El Camino Health; Matt Mahan, Mayor, City of San José; Cynthia Teniente-Matson, President, San José State University; DeLinda Mrowka, Chief Revenue Officer, KQED; and Corey Verwey, Executive Project Director, LendLease. “We are so pleased to welcome this panel of accomplished leaders to the Joint Venture board,” said Russell Hancock, CEO of Joint Venture.

Read the news release

State of the Valley 2023: Art as commentary

March 20, 2023 - Joint Venture’s audiences celebrated the rich and diverse arts of Silicon Valley through performers who shared their considerable talents. MOSAIC America provided a spectrum of music and dance as a symbolic representation of the cultures who enrich our region. Francis Experience ignited the room with its hip hop and jazz ensemble, performing vignettes dramatizing the lived experience of local community members. Led by Jonathan Borca, the ensemble used  music and dance as a tool pointed social commentary.

Watch Francis Experience | Watch MOSAIC America

La Avenida, a new cultural hub for East San José

March 19, 2023 - To highlight one living example of community building, Jessica Paz-Cedillos and Vanessa Shieh, Co-Executive Directors of the School of Arts and Culture at Mexican Heritage Plaza, shared details about a $20 million expansion plan. Known as “La Avenida,” The plan will transform a vacant, 30,000-square-foot retail space on Alum Rock Avenue into a 200-seat theater and a community-oriented cafe, along with a wellness center run by Gardner Health Services. It will also include a 6-story parking garage topped with a park, affordable housing for 100 families, and a multistory office and retail building, creating new neighborhoods and cultural hubs.

Watch the presentation

Community: Sector leaders respond to Index Data

March 20, 2023 - A panel of leaders considered the data contained in the 2023 Silicon Valley Index. Moderated by Supervisor Susan Ellenberg, the panel included City Councilmember Alicia Aguirre (Redwood City); Veronica Goei, Executive Director of Grail Family Services; Camille Llanes-Fontanilla, Vice President at Sobrato Philanthropies; Raúl Rodríguez, Interim Chancellor of San Jose – Evergreen Community College District; and Juan M. Salazar, Director of State and Local Policy at Meta. The group agreed that affordable housing and childcare were the chief barriers.

Watch the discussion 

State of the Valley Index Briefing: Community

March 20, 2023 - The second half of the conference put Silicon Valley’s community issues center stage. Russell Hancock, CEO of Joint Venture, began by showing the region’s jaw-dropping average annual earnings and the stunning value-added and productivity figures. He then showed how median household income hasn’t kept pace with inflation and how Silicon Valley exhibited the nation’s most highly pronounced wealth disparities.

Watch the community briefing

Economy: Experts Respond to Index data

March 20, 2023 - John Markoff, Pulitzer Prize-winning journalist who wrote for The New York Times’ science and technology beat for 28 years, moderated a bracing conversation with Silicon Valley’s foremost academic interpreter, and one of the Valley’s most active and successful venture capitalists. AnnaLee Saxenian, whose early work explaining the Valley’s dynamism launched waves of Valley scholarship, argued that the tech sector was in the throes of a “correction.” Somesh Dash, a partner at one of the Valley’s first venture capital firms, spoke of the dynamism he observes in the start-up scene. “I have never seen a cohort of more battle-tested entrepreneurs,” he enthused. 

Watch the discussion

State of the Valley Index Briefing: Economy

March 20, 2023 - “A cloak of uncertainty has descended on the region,” began Joint Venture CEO Russell Hancock as he referenced a spate of layoffs in the tech sector, a slow recovery for jobs in community infrastructure, empty downtowns, and a substantial exodus out of the region. “But how should we contextualize these trends?” he asked, pointing out that the region is at full employment, that the layoffs represent a recalibration rather than a collapse as the tech sector adjusts to new demand curves, that most of the departing workers were still in Northern California and the Greater Bay Area and still filling Silicon Valley jobs. 

Watch the 2023 State of the Valley economy briefing

2023 Silicon Valley Index: Solid regional economy despite wealth gap, shrinking economy

cover imageFebruary 15, 2023 - Silicon Valley is perched on solid ground despite growing income and wealth divides, persistent racial inequities, and a dwindling population, according to the 2023 Silicon Valley Index, just released by Joint Venture’s Institute for Regional Studies. The Index shows that population declined by tens of thousands, home prices rose by 7%, childcare costs rose twice as quickly as inflation, and wages were inadequate for the rising cost of living. "We see hundreds of thousands of meals required of our region’s food bank, and childcare cost rising twice as quickly as everything else," said Rachel Massaro, Director of Research for the Institute. 

Read the news release | Download the 2023 Index

Institute names Annette Nellen as Fellow

March 13, 2023 - Annette Nellen has been named a Fellow at Joint Venture’s Silicon Valley Institute for Regional Studies. Nellen is a professor in and director of San José State University's graduate tax program (MST), teaching courses in tax research, accounting methods, individual tax, property transactions, employment tax, leadership, ethics, and tax policy. No stranger to Joint Venture, Nellen was involved with the Joint Venture Tax Policy Group and chaired the panel from late 1990s through 2004. 

Learn more about Annette Nellen

Investors Spotlight

Donors invest in Joint Venture with both general support and project-specific gifts. Support from the community enables us to provide innovative solutions to issues that confront our regional economies and quality of life. Here are just a few of our many investors:

Sobrato Development Companies logo South Bay Piping logo Silicon Valley Clean Energy logo

Joint Venture offers a variety of support and sponsorship opportunities for individuals, corporations, and public sector organizations. To inquire about becoming a member of our Investors Council, call (408) 298-9330 or visit our Become an Investor page. To see our current investors, visit our investors pages.

Silicon Valley Indicators

indicators home page Comprehensive information and data about the Silicon Valley ecosystem is always available at www.siliconvalleyindicators.org.

Data and charts from the Silicon Valley Index (and more) are presented on an interactive website that allows users to explore Silicon Valley trends. Indicators are presented by the Institute for Regional Studies. Housed within Joint Venture Silicon Valley, the Institute provides data and analysis on issues facing dense metropolitan regions.

Top Videos

The 2023 Silicon Valley Index briefing on the economy

Joint Venture CEO Russell Hancock summarized the major findings from the 2023 Silicon Valley Index at the annual State of the Valley conference held at the Computer History Museum February 17. The report, produced by Joint Venture's Institute for Regional Studies, shows that Silicon Valley is perched on solid ground despite growing income and wealth divides, persistent racial inequities, and a dwindling population. This year the Index briefing was divided into two presentations. One focused on the economy (this video), and one on community (a separate video we will post next month).

Joint Venture’s 2023 State of the Valley conference was held on February 17 as a hybrid event. You can view all the available sessions on our YouTube channel.

The 2022 Silicon Valley Poll

The Silicon Valley Poll is an extensive public opinion survey placed in the field annually by Joint Venture and its research arm, the Silicon Valley Institute for Regional Studies. Carried out in partnership with The Mercury News and Bay Area News Group, the Poll tracks recurring questions probing how residents feel about the general direction of the region and their stance on a range of policy and planning questions. Each year the poll also poses timely and topical questions about current events.

The Silicon Valley Poll is released on an annual basis in October.

Top Downloads

2023 Silicon Valley Index

Download PDF Silicon Valley is perched on solid ground despite growing income and wealth divides, persistent racial inequities, and a dwindling population, according to the 2023 Silicon Valley Index, released by Joint Venture’s Institute for Regional Studies.

Learn more about the Silicon Valley Index online at www.siliconvalleyindicators.org.

Read the news release Download the report

2022 Silicon Valley Poll

report cover According to the Silicon Valley Poll, nearly three out of four residents say their quality of life in the Bay Area has declined over the last five years, a concern that holds across all age, income, and education levels.

Download the report Read the poll

Unemployment Data Release - January 20, 2023

cover The unemployment rate in Silicon Valley decreased in December to 2.0%, the largest drop in the unemployment rate since the period from March to April 2022.

Read the news release Download the data release

Food Needs Terminology: History, Usage, and Limitations - November 2022

cover The brief tackles the challenge of confusing nomenclature within this critical arena, and offers potential approaches to better define community needs in Silicon Valley and beyond. The objective was to examine a more sustainable way to calculate, discuss, and communicate food needs in Silicon Valley, with applicability in communities elsewhere.

Download the report

Silicon Valley Commercial Space - Q3 2022

Download a PDF of this report Silicon Valley’s commercial space indicators reveal that companies are adjusting to new expectations around remote work. The latest analysis from Joint Venture’s Institute for Regional Studies shows that, despite increased vacancy rates, the total number of leases still surpassed last year’s totals.

Learn more Download the report

Universal Preschool Study - September 2022

Download a PDF of this report This study models what would happen if publicly-funded preschool and after-school care were available to every child under the age of five in Santa Clara County.

Download the report

In The News

March 22, 2023 - (The Six Fifty) - Remote work rises and Caltrain ridership plummets: How Silicon Valley has changed three years since COVID: Joint Venture Silicon Valley, a regional nonprofit think tank, publishes its Silicon Valley Index...More

March 19, 2023 - (TV3 Spain) - Silicon Valley: what will the future be like without the bank for start-ups? Spainish television interviews Russell Hancock, CEO of Joint Venture, regarding the regional economy and recent bank failures More

March 18, 2023 - (Marin IJ) - Dan Walters: Is Silicon Valley Bank’s failure an omen for California? - “Tech is going through a painful period,” Russell Hancock, president of Joint Venture...More

March 17, 2023 - (Silicon Valley Business Journal) - What Silicon Valley Bank’s implosion means for the future of the innovation economy:  Russell Hancock, CEO of Joint Venture Silicon Valley, a regional business group, said SVB was known for its personal service. More

March 15, 2023 - (TVE-Spanish Public Television) - Russell Hancock, CEO of Joint Venture Silicon Valley interviewed by Spanish Public TV, Barcelona, on Silicon Valley economy More 

March 14, 2023 - (Silicon Valley) - Bay Area boasts strong job gains in January despite tech layoffs: the Bay Area economy continues to power upwards,” said Russell Hancock, president of Joint Venture Silicon Valley...More

March 14, 2023 - (San Francisco Business Times) - Viewpoint: Is Silicon Valley Bank’s failure an omen for California? A few weeks ago, a local industry organization, Joint Venture Silicon Valley, issued its annual report on the region's economy...More

March 14, 2023  - (CalMatters) - Is Silicon Valley Bank’s failure an omen for California?: Joint Venture Silicon Valley, issued its annual report on the region’s economy...More

March 13, 2023 - (Globe Echo) -“Silicon Valley Is The Microcosm Of The Excesses Of Capitalism”: report of Joint Venture Silicon Valley Institute, published on February 17, the gap between rich and poor increased further in 2021...More

March 13, 2023 - (Run Down Bulletin) - “Silicon Valley is a microcosm of the excesses of capitalism”: According to the annual report of the Joint Venture Silicon Valley Institute, published on February 17...More

March 7, 2023 - (CalMatters) - Study: Wealth disparity grows in Silicon Valley - ...according to the Silicon Valley Index, an annual report by the Silicon Valley Institute for Regional Studies...More

March 6, 2023 - (Black Facts - Post News Group) - Silicon Valley's Vast Wealth Disparity Deepens as Poverty Increased: ...according to the Silicon Valley Index More

March 2, 2023  - (Silicon Valley) - Book review: Palo Alto, like California, shines as a land of promise but is haunted by its history - eight households held more wealth than the bottom 50% (nearly half a million households), according to the Silicon Valley Index More

March 6, 2023 - (Black Facts/Post News Group) - Silicon Valley's Vast Wealth Disparity Deepens as Poverty Increased: ...according to the Silicon Valley Index More

March 2, 2023  - (Silicon Valley) - Book review: Palo Alto, like California, shines as a land of promise but is haunted by its history - eight households held more wealth than the bottom 50% (nearly half a million households), according to the Silicon Valley Index More

March 1, 2023 - (Mercury News) - Letters to the Editor: Capitalism keeps poverty going strong - The new study by the Silicon Valley Institute for Regional Studies shows disgraceful disparities in wealth. More

February 27, 2023 - (San Jose Spotlight) - Santa Clara County wants to put millions into child care: [childcare cost] has risen twice as quickly as regional inflation since 2010, according to a 2023 Joint Venture Silicon Valley report. More

February 26, 2023 - (San Jose Spotlight) - Podcast: Joint Venture Silicon Valley releases a report showing how the region is faring economically...More

February 22, 2023 - (News Break) - The Wealth Gap Is Widening: ...a new study by the Silicon Valley Institute for Regional Studies has highlighted the vast disparities in wealth, income, and other economic measures...More

February 19, 2023 - (CalMatters) - Two major California economic sectors face headwinds: Last week, a local industry group, Joint Venture Silicon Valley, issued its annual report on the region’s economy...More