Joint Venture Silicon Valley provides ANALYSIS, ACTION, LEADERSHIP

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Joint Venture Silicon Valley provides

ANALYSIS

ACTION

LEADERSHIP

What's Happening Now

Institute: Individual donations to charity rebound

hand placing money in donation boxJune 17, 2024 - An Institute examination of newly released IRS data show that individual donations to charity rebounded. Nearly a quarter of all Silicon Valley individual taxpayers and joint filers donate to charities. The dollar amounts of donations have doubled since 2019 and the share of Adjusted Gross Income donated rose by 1.5 percentage points. Statewide, a smaller share of individuals donate to charity and those who do donate less of their AGI.

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Joint Venture publishes Protecting California in the 21st Century: Public Safety in a Voice-over-IP and Over the Top World

cover imageApril 30, 2024 - Joint Venture released a comprehensive white paper highlighting crucial developments in the state’s telecommunications landscape and which emphasizes the necessity for updating California’s outdated public safety strategies to align with modern technologies and provide more effective response during emergencies and disasters. Protecting California in the 21st Century encourages a forward-looking and market-aware approach to emergency communications, including 9-1-1 emergency services.

Read the news release | Read the white paper

Meet Rebecca Unitt

June 17, 2024 - In the vibrant coastal enclave of Santa Cruz, where the Pacific breeze mingles with entrepreneurial spirit, Rebecca Unitt leads the charge as the Economic Development Manager for the City of Santa Cruz. Her journey epitomizes dedication to public service and positive change. Working at the nexus of urban planning and community empowerment, Rebecca served in 2023 as chair of Joint Venture’s Silicon Valley Economic Development Alliance. Growing up, Rebecca excelled at competitive Irish step dancing and danced at the World Championships in Scotland and Ireland and ranked eleventh in all North America. 

Read Rebecca's profile

Research Brief: Expanding the Behavioral Health Workforce Pipeline in Santa Clara County

report cover imageJune 17, 2024 - The Silicon Valley Institute for Regional Studies released Expanding the Behavioral Health Workforce Pipeline in Santa Clara County with research that benchmarks the status of the existing local behavioral health workforce and identifies roadblocks and priorities for pipeline expansion and local retention.“I am committed to continuing the conversation about effective behavioral health workforce expansion strategies...,” says Susan Ellenberg.

Read the brief

2024 Silicon Valley Index: Record-high $14.3 trillion market cap as income gaps, layoffs, & adjustments signal recalibration

cover imageFebruary 28, 2024 – Joint Venture Silicon Valley's Institute for Regional Studies today released the 2024 Silicon Valley Index, revealing that the region achieved an unprecedented market cap of $14.3 trillion. This milestone comes as the regional economy demonstrates resilience despite growing income and wealth divides, coupled with persistent housing challenges for residents. The data confirms the region's economic health and continued growth. “We may not be booming, but we’re still growing,” said Russell Hancock, CEO of Joint Venture. “We’re a region built on creative destruction and re-invention.”

Download the Index | Read the news release 

Read news coverage of the Index

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.

What is Joint Venture Silicon Valley?

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

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2007 Silicon Valley Index cover San Jose — Silicon Valley added more than 30,000 jobs over the last year’s total, per capita income increased, average pay rose, and value-added per worker showed significant gains.

So says the 2007 Silicon Valley Index, a 60-page report to be released by Joint Venture: Silicon Valley Network at its annual State of the Valley conference February 2nd. Google CEO Eric Schmidt and former Vice President Al Gore will keynote the conference, which also features panel discussions on globalization, and Silicon Valley’s role in America’s energy future.

“Silicon Valley has entered a new phase in its dynamic evolution,” said Russell Hancock, Joint Venture’s President and CEO. “Last year we saw the first evidence the downturn was behind us. This year we see quite clearly that Silicon Valley has done it again—we’ve reinvented ourselves. Venture capital is moving into promising new areas like renewable energy and clean technology, our innovation has carried into Web 2.0 and other new forms of media, and our employment gains are broadly based, spanning most sectors of the economy and not just our driving industry clusters.”

The report shows Silicon Valley commands a large and growing share of all US venture capital investment (more than 28 percent), and that investments in clean technology have reached $300 million annually (a 900% increase) — making the Valley the nation’s prime spot for innovation in energy alternatives. The report also shows Silicon Valley’s population is growing and becoming more global in character, with 40 percent of the workforce born outside the United States, and 48 percent of the region’s population speaking a language other than English in the home. This means Silicon Valley has supplanted Los Angeles as California’s most ethnically diverse region, and is now second nationally, behind Miami.

In a “special analysis” section the report argues that Silicon Valley’s diverse ethnic composition will be its chief asset in the global marketplace, where new technology regions in Asia, Israel, and Europe are emerging as competitors and collaborators.

But the region faces significant challenges, warns Hancock in his introduction to the report. “Most of these challenges are old and familiar,” he writes. “The portion of residents unable to afford median-level housing is increasing. Health care availability shows troubling disparities by race. Too many are unprepared to compete in today’s economy. Our educational institutions are straining under the demands heaped upon them. It’s alarming to see juvenile crime on the increase.”

According to the report, the percentage of first-time home buyers who can afford the median-priced home is 26 percent, down from 31 percent in 2005. The high school graduation rate dropped 3 percent to 86 percent across Silicon Valley, the lowest level since 1998. Drop-out rates increased by 1 percent for all ethnic groups except Hispanics. The share of third graders reading at or above median, however, grew by 3 percent. Juvenile felony offenses per capita (per 100,000) increased to 1,034, up from 902 in the previous year.

According to Hancock, “we are growing as a global center for creativity in business and technology, defining our advantage by being creators of new products, services, companies and business models. This is a fundamental restructuring, away from the old manufacturing model toward a new idea economy. We can see it happening very clearly, and our region’s companies are taking full advantage.”

Hancock concludes: “The question for Silicon Valley is whether there will be broad participation in these activities—particularly for the rising generation—or whether we’re looking at a future where our companies prosper through their global networks but the region doesn’t feel better off.”

In The News

June 17, 2024 - (Press Democrat) - Witkowski and Ghilarducci: The future of emergency response is digital - Opinion: In a fire, flood or other crisis, emergency responses are better served by digital communications than landline phones. More

June 3, 2024  - (KCBS Radio) - Need is "greater than ever" to donate to local non-profits in Silicon Valley: Joint Venture CEO, Russell Hancock, interviewed  More

June 3, 2024 - (Tech Wire) - Tom Snyder: Entrepreneurship is everywhere: The Silicon Valley Institute for Regional Studies reports that 749 new startup businesses were created in the region in 2023. More

June 2, 2024 - (Silicon Valley) - San Jose drops another spot down the list of most populous U.S. cities: Early growth was largely due to “smoke and mirrors,” according to Hancock [CEO of Joint Venture], by annexing whole cities. More

May 31, 2024 - (Silicon Valley) - Crowded housing conditions, racial inequalities: “We have some high flyers and we have some people that are barely getting by,” said Russell Hancock, CEO of Joint Venture Silicon Valley More

May 31, 2024 - (MSN) - Crowded housing conditions, racial inequalities detailed in Morgan Hill report: we have some people that are barely getting by," said Russell Hancock, CEO of Joint Venture Silicon Valley More

May 23, 2024 - (Asian Journal) - PCGSF Gets Insights From 10th Annual Silicon Valley Briefing At Stanford: Russell Hancock, president and CEO of Joint Venture Silicon Valley and an adjunct Professor at Stanford University’s Public Policy Program, provided a presentation More

May 17, 2024 - (Del Norte Triplicate) - Board continues cell tower appeal pending location of alternative site: Joint Venture Silicon Valley report confirms no impact on property values. More

May 17, 2024 - (Mercury News) - Bay Area and California add jobs in April — but the gains are puny: “Our economy is in the throes of a transition...” said Russell Hancock, president of Joint Venture More

May 15, 2024 - (Morgan Hill Times) - City of Morgan Hill will host May 30 Economic Mobility Symposium: This data is consistent with the 2024 Index by Joint Venture Silicon Valley More

May 15, 2024 - (Mercury News)  Tech job cuts ease a bit in Bay Area as industry layoffs haunt region: Long-term outlook of the region’s economy and technology industry remain healthy, according to Russell Hancock, president of Joint Venture Silicon Valley, a San Jose-based think tank. More

May 14, 2024 - (KCBS) - New proposal could help Santa Clara Co. residents secure quality Internet access: David Witkowski, ED of Joint Venture's Civic Tech inititiative is interviewed about internet access. More

May 10, 2024 - (KQED) - Divestment from Israeli Tech Is a Tall Order for Silicon Valley. Here’s Why: Russell Hancock, CEO of Joint Venture Silicon Valley, said Silicon Valley companies have a long history of cultivating military contracts More

May 9, 2024 - (Mercury News) - Downtown San Jose visit activity soars, Oakland jumps, San Francisco nosedives: ... the South Bay city benefits from a favorable comparison to San Francisco, in the view of Russell Hancock, president of Joint Venture Silicon Valley More

May 1, 2024 - (Mercury News) - California’s great exodus finally slows as population increases after 3-year decline: “The pandemic is in the rearview mirror and we’re sort of coming back to how we were,” said Russell Hancock, CEO of Joint Venture Silicon Valley More

April 25, 2024 - (San Jose Spotlight) - Will TikTok leave San Jose if ban takes hold? Russell Hancock, CEO of economic think tank Joint Venture Silicon Valley, agreed having a presence in the valley is a no-brainer. More

April 19, 2024 - (Silicon Valley) - Bay Area bounces back with job gains in March, led by South Bay hiring: “There’s downsizing in some divisions and growth in others,” said Russell Hancock, president of Joint Venture Silicon Valley More