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| Silicon Valley Poll Briefing: |
| What's our mood? What do we think? |
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On Wednesday October 4th, Joint Venture Silicon Valley will convene the region at Evergreen Valley College's beautiful campus to delve into the 2023 Silicon Valley Poll. The in-person event will feature a briefing on the overall results and how they compare to previous years; there will also be a panel of experts to dissect the public's perception of transit, our struggling downtowns, and the continuing rise of homelessness.
The annual public opinion survey is overseen by Joint Venture's research arm, the Silicon Valley Institute for Regional Studies, in partnership with The Mercury News and Bay Area News Group. Now in its third year, the Silicon Valley Poll has become one of the most closely watched surveys in the region.
Registration ($25) is simple with a credit card, and participants are advised to sign up quickly. |
| Learn more about the Poll |
The 2023 Silicon Valley Poll is made possible by generous support from lead sponsor Kaiser Permanente and host Evergreen Valley College.
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| Food Recovery pushes forward with a model for success |
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Joint Venture’s Food Recovery Initiative presented a menu of strategic and innovative food waste prevention and food recovery solutions at the August meeting of the Technical Advisory Council (TAC) of the Recycling & Waste Reduction Commission (RWRC) of Santa Clara County.
The proposed measures, most of which can be leveraged locally, build on earlier work that assesses local capacity to handle surplus food generated by businesses and institutions. The menu of solutions also evaluates ripe opportunities to expand that capacity, as described in the Initiative's 2022 report, Making the Most of Surplus Food in Santa Clara County.
The menu of options includes 15 projects, some already funded and underway, to capitalize on existing assets, imagine new possibilities, and spur growth and innovation in efforts to ensure that any surplus food can be put to its highest and best use, reduce waste, and to feed more people in need.
The Food Recovery Initiative looks forward to continuing to work with the TAC, Santa Clara County, and local jurisdictions to strengthen the local ecosystem for managing surplus food, to meet and exceed the requirements of SB 1383, that jurisdictions conduct education and outreach on organics recycling to all residents, businesses haulers, and other food recovery organizations. |
| Learn more about the Food Recovery Initiative |
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| July unemployment rate improves slightly |
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The unemployment rate in Silicon Valley dropped slightly to 3.4% in July following two straight months of increases, according to analysis by Joint Venture Institute for Regional Studies. The region’s July unemployment rate decrease of 0.1 percentage points represents only the second time in 2023 that the unemployment rate decreased month-over-month. For comparison, the unemployment rate decreased five times (month-to-month) between January and July 2022. Overall employment in the region increased by nearly 14,600 workers between mid-June and mid-July of this year. Total employment in the region is still 9,500 below the previous 2023 high reported in March.
“For Silicon Valley, the big picture is that this economy has had a remarkable two-and-a-half-year run of positive growth,” Joint Venture CEO Russell Hancock told the Mercury News. “Even despite a rash of tech layoffs, the Silicon Valley economy has been growing at a rate that outpaces the state and the nation.” |
| Read the news release Download the data release |
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| 2023 Q2 Commercial Space Report shows leasing activity is low, demand receded |
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Silicon Valley’s commercial space indicators reveal in the second quarter of 2023 that many companies are continuing to adjust to new expectations around a remote and hybrid work culture. The latest analysis from Joint Venture’s Institute for Regional Studies, in partnership with JLL Silicon Valley, in their second-quarter Silicon Valley Commercial Space report shows a weakening attitude toward the market in the first half of 2023 as a barrage of layoff announcements enveloped the technology industry.
Institute analysis shows that many companies have implemented return-to-work mandates, with hybrid office policies becoming the norm and that a certain percentage of companies will no longer be interested in leasing space if their business operations can be virtual.
“Reduced demand for office space that’s driven by work from home trends and a more efficient usage of space have kept vacancy levels elevated,” noted Ricky Manago, Affiliated Researcher for the Silicon Valley Institute for Regional Studies, the research arm of Joint Venture Silicon Valley. “This is just as we are seeing mounting layoffs from tech firms.” |
| Learn more & download the report |
| Save the Date: |
| 2023 SVEDA Conference |
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| SVEDA, the Silicon Valley Economic Development Alliance, will hold its annual conference in Santa Cruz November 2-3 at the Dream Inn. SVEDA is a regional partnership of economic development professionals who bring together public and private resources to ensure the success of businesses in Silicon Valley. |
| Learn more |
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August 18, 2023 - (Mercury News) - Economic cool down? Bay Area adds jobs in July — but pace of gains slows significantly: “Even despite a rash of tech layoffs, the Silicon Valley economy has been growing at a rate that outpaces the state and the nation,” said Hancock of Joint Venture Silicon Valley. More
August 13, 2023 - (Mercury News) - California exodus: Top destination for Bay Area transplants isn’t in Texas or Florida. It’s … Seattle?: ...a revelation that surprised even Russell Hancock, CEO of Joint Venture Silicon Valley. More
August 11, 2023 - (Inc. Magazine) - The Critical Role of Corporate Venture Capital After the Banking Crisis: Joint Venture Silicon Valley, a nonprofit business and community group, reports that this region generates 13.1 of California's gross domestic product and holds 9.6% of jobs. More
July 31, 2023 - (Silicon Valley Business Journals) - Taylor Swift fans see red after The Eras Tour makes a stop in Santa Clara: Taylor Swift's visit to Levi's Stadium could generate $14.9 million...according to Joint Venture Silicon Valley. More
July 29, 2023 - (CBS) - Taylor Swift tour brings Super Bowl-level economic impact to Bay Area: CEO of Joint Venture Silicon Valley, Russell Hancock, called Taylor the Beatles of the 21st century. More
July 26, 2023 - (Digital Technology Guru) - Silicon Valley’s AI Concentration Raises Concerns of Inequality: Russell Hancock, CEO of Joint Venture Silicon Valley, anticipates the transformation of high-paying jobs and the potential impact on white and Asian employees. More
July 26, 2023 - (AI2 News) - Silicon Valley’s AI Boom and Potential Disparities: Organizations like Joint Venture Silicon Valley...are closely monitoring the impact of AI on employment and working towards diversifying the workforce. More
This is just a tiny sampling of Joint Venture's frequent coverage in the national and local news media. Read all our news coverage. |
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