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| Institute reports early economic indicators of coronavirus crisis |
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The Institute for Regional Studies is collecting, aggregating, and analyzing data to chronicle the effects of COVID-19 and the accompanying shelter-in-place orders on Silicon Valley’s economic and community health. Visit the Institute Insights page for a full list of COVID-19 related Institute work. The most recent releases:
Data Release: Silicon Valley unemployment reaches record high
The Institute released analysis comparing current unemployment rates against those from the last 20 years, reflecting an unprecedented 11.6% unemployment rate surpassing even the post-dot com bust of 2009.
Data Release: April Bay Area consumer price index down—first since 2003
The Institute compiled a summary of the San Francisco-Oakland-Hayward metro area consumer price index. The COVID-19 pandemic has brought about a decrease of 0.5 percent in the CPI, influenced by the fall in gasoline prices, a decline in apparel purchases, and the near-elimination of dining out.
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| Community steps up to assist Food Recovery Council |
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Joint Venture’s Food Recovery Initiative is serving people in need during the COVID-19 pandemic. Nutanix, a cloud computing company, the LDS church, and Kelly Dippel from Coldwell Banker real estate are just a few examples of organizations that have stepped up to assist the efforts organized by the initiative.
Nutanix, headquartered in San Jose, donated healthy snacks and beverages to Food Council members Martha's Kitchen and Hunger at Home. The Church of Jesus Christ of Latter-day Saints provided $9,000 worth of food to Loaves & Fishes, Hunger at Home, and Martha's Kitchen. Kelly Dippel with Coldwell Banker in Los Gatos rallied donors and bought $2500 worth of food from a local restaurant that was distributed to those in need—a double win for the community. "It is heartening to have so many people come together to help others who are in such dire need, especially now," said Dippel.
Corporate offices with an abundance of unused packaged food due to the lockdown are encouraged to donate to neighbors less fortunate during this time of dire need and high unemployment.
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| For more info, contact . |
| Silicon Valley Talent Partnership wraps pro bono project with City of South San Francisco |
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Joint Venture’s Silicon Valley Talent Partnership (SVTP) has just completed a project with the City of South San Francisco and two pro bono teams from Inspire and Robert Half. Skilled volunteers advised the city on how to develop an employment program for local, underserved youth.
The City of South San Francisco is now the largest hub for biotech companies in the world. All the while, blue collar families who have traditionally called “South City” home are under pressure from rising housing costs. As a means to help youth see a future where they can live, work, and earn a living wage, the city is preparing to launch a Summer Employment for Youth initiative that will give high-school-age students exposure to work life and teach them workplace-skills while earning a wage.
"The teams from Robert Half and Inspire were wonderful. Robert Half established relationships with employers who can offer summer learning experiences, and Inspire helped think through a strategic framework - all vital ingredients to make this program a long-term success,” said Floor Koudijs, Executive Director of SVTP.
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| Learn more about being a pro bono consultant, supporting SVTP, or offering your project ideas. |
| Joint Venture frames the wireless deployment challenge |
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Joint Venture’s Civic Technologies Initiative has released a white paper in partnership with the IEEE's Future Networks Initiative. Co-authored by David Witkowski, the paper explores the "5G and Beyond Deployment Challenge," and overviews perspectives both public and private. It also begins to examine ways to ensure that all stakeholder perspectives are communicated and understood, alerts the wireless industry to the tactical challenges of deployment in and around the public right-of-way, and highlights the particular needs of local governments and municipal agencies as they seek to manage the complexities of telecommunications deployment.
"Future network technologies such as 5G and 6G are expected to enable fundamentally new applications that will transform the way humanity lives, works, and engages with its environment." said Witkowski. "Wireless communications facilities cannot be deployed in a vacuum – communication across the product development chain and between private and public entities is critical to enabling practical solutions that deliver reliable broadband to the public while respecting and addressing concerns about health and aesthetics."
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| Read the paper |
| Joint Venture names new Benest Fellows |
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Joint Venture has named Lukas Lopez-Jensen and Jose Luis Gandara as Benest Fellows for 2020–2021. The eponymous fellowship recognizes Frank Benest, who championed regional issues as city manager for Palo Alto and as a Joint Venture board member. Joint Venture awards two fellowships each year through a competitive process to students who have shown commitment to regional issues. Both fellows, who will work remotely, will be matched with senior program officers who will serve as mentors.
Lukas Lopez-Jensen
Lopez-Jensen is originally from Denver. He is a sophomore at Stanford University who plans to major in economics or public policy with a double minor in data science and Italian.
José Luis Gandara
Gandara is a sophomore at Stanford and is originally from Seattle. He is pursuing a Bachelor's degree in public policy with a concentration in urban and regional policy, and is considering a double-major in economics.
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| Learn more about Joint Venture Fellowships |
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May 20, 2020 - (KPIX TV5) - North Carolina Mounts Campaign to Lure Tesla Away from Bay Area: Joint Venture Silicon Valley CEO Russell Hancock says from an operational standpoint, it would not be in Tesla’s interests to relocate. More
May 19, 2020 - (SFGATE) - Santa Clara Co.: Major Layoffs in Silicon Valley Hit Team San Jose, Goodwill And Car Dealers: A report released recently by Joint Venture Silicon Valley, a regional research organization, compiled nearly a year's worth of information from the EDD, showing a massive uptick in layoffs in the past two months across dozens of industries. More
May 19, 2020 - (New York Times) - Twitter Could End the Office as We Know It: Joint Venture Distinguished Fellow, Dr. Margaret O'Mara posits that, "For an industry that thrives on disruption, this might be its most disruptive move yet. More
May 18, 2020 - (Washington Post) - Big Tech was first to send workers home. Now it’s in no rush to bring them back: “They’ve had a ripple effect on how other industries and sectors understand what a white-collar workplace should look like if you want to attract the best talent,” said Margaret O’Mara, a professor of history at University of Washington [and Distinguished Fellow at Joint Venture Silicon Valley. More
May 14, 2020 - (San Jose Spotlight) - Major layoffs in Silicon Valley hit Team San Jose, Goodwill and car dealers: A report released last week by Joint Venture Silicon Valley, a regional research organization, compiled nearly a year’s worth of information from the EDD, showing a massive uptick in layoffs in the past two months. More
May 14, 2020 - (KQED) - Should Venture Capital-Backed Startups Get Federal Stimulus Money? "There are going to be winners and losers. The startup environment has always been like that," said Rachel Massaro, vice president and director of research of the nonprofit Joint Venture Silicon Valley. More
May 14, 2020 - (KQED) - Bay Area Housing Post-Pandemic: What’s in Store? Issi Romem, economist and founder of MetroSight, and affiliated researcher at the Silicon Valley Institute for Regional Studies: A lot of people kind of presume prices are going to fall now. More
May 14, 2020 - (KQED) - Bay Area Housing Post-Pandemic: What’s in Store? Margaret O’Mara, history professor at the University of Washington and [Distinguished Fellow] at the Silicon Valley Institute for Regional Studies: The Bay Area is a resilient economy. More
May 13, 2020 - (Protocol) - Tesla’s reopening may be a spectacle, but it's also a warning for Silicon Valley: "I have heard companies saying, 'This is killing us,' but it's a dialogue," said Russell Hancock, president and CEO of think tank Joint Venture Silicon Valley. More
May 13, 2020 - (San Jose Spotlight) - Bay Area hiring dips 25 percent since coronavirus shutdowns: report - The Bay Area has seen a 25 percent decline in hiring activity since February...according to Joint Venture Silicon Valley and its data arm, the Silicon Valley Institute for Regional Studies. More
May 12, 2020 - (SFGATE) - Status Update On Bay Area COVID-19 Developments: Hiring in the Bay Area is down 25 percent since February when concerns over the coronavirus started ramping up in the region, according to Joint Venture Silicon Valley and data from LinkedIn. More
May 12, 2020 - (SFGATE) - Hiring In Bay Area Down 25 Percent: Hiring in the Bay Area is down 25 percent since February when concerns over the coronavirus started ramping up in the region, according to Joint Venture Silicon Valley and data from LinkedIn. More
May 12, 2020 - (JD SUPRA) - Project Approved Pursuant to SB 35 Streamlining Procedures Survives Court Challenge: an amicus curiae brief in support of Real Party in Interest Vallco Property Owner, LLC on behalf of [several organizations, including] Joint Venture Silicon Valley. More
May 12, 2020 - (KQED) - Hiring in the Bay Area Is Down 25% Since February, Data Show: Hiring in the Bay Area has decreased by 25.3% since February, when concerns over the coronavirus began ramping up in the region, according to LinkedIn hiring data analyzed by the Joint Venture Silicon Valley’s Institute for Regional Studies. More
May 10, 2020 - (Mercury News) - Elon Musk’s latest fight with Alameda County follows familiar path: Russell Hancock, president and CEO of Joint Venture Silicon Valley, did not flinch when learning of Musk’s threat to abandon the Bay Area. More
May 9, 2020 - (KPIX TV) - County Officials Say Tesla Exit From Fremont Would Severely Harm Bay Area Economy: Russell Hancock, president and CEO of Joint Venture on Tesla opening during COVID-19 pandemic lockdown. More
May 8, 2020 - (KPIX TV) - Coronavirus Update: Flouting County Lockdown, Tesla Brings Workers Back to Fremont Factory: This is Mr. Musk playing according to type,” said Russell Hancock, president and CEO of Joint Venture Silicon Valley. More
May 8, 2020 - (Silicon Valley Business Journal) - San Jose's answer for retail social distancing: Let's do business outdoors: ...more than 46,000 restaurant workers have lost their jobs here since the start of the pandemic, according to figures supplied by Joint Venture Silicon Valley. More
May 7, 2020 - (Mercury News) - 30 Bay Area cities shrank last year as California population growth slowed: Silicon Valley — defined as Santa Clara and San Mateo counties — had the largest out-migration of residents last year since 2008, according to an analysis from Joint Venture Silicon Valley. More
May 7, 2020 - (Marin Independent Journal) - 30 Bay Area cities shrank last year as California population growth slowed: Silicon Valley — defined as Santa Clara and San Mateo counties — had the largest out-migration of residents last year since 2008, according to an analysis from Joint Venture Silicon Valley. More
May 7, 2020 - (SFGATE) - Santa Clara Co.: Silicon Valley Real Estate At 'A Turning Point' As Construction Resumes: Ripple effects of staying at home appear in small, nuanced ways in a new report, released by Joint Venture Silicon Valley and commercial real estate brokerage JLL, which analyzes real estate data from the first quarter. More
May 7, 2020 - (KQED) - Silicon Valley On A Hiring Spree During Coronavirus Pandemic, But For How Long? "It certainly seems like an odd time to try purposely to hire new people. Why? Why not just wait?" asked Rachel Massaro, who directs research at the Silicon Valley Institute for Regional Studies at Joint Venture Silicon Valley. More
May 5, 2020 - (Silicon Valley Business Journal) - San Jose mayor's 'recovery roundtable' all named and ready to go: Russell Hancock, President and CEO, Joint Venture Silicon Valley, named to panel...goal is to figure out how to reopen business as quickly and safely as possible in the wake of the coronavirus pandemic. More
May 5, 2020 - (Mercury News) - Here’s a list of leaders on Silicon Valley’s COVID-19 economic recovery team: ...Russell Hancock: President and CEO, Joint Venture Silicon Valley. More
May 5, 2020 - (City of San Jose News Release) - Mayor Sam Liccardo announced the addition of new members to the Silicon Valley Recovery Roundtable, including Joint Venture President and CEO, Russell Hancock. More
May 5, 2020 - (San Jose Spotlight) - Silicon Valley real estate at ‘a turning point’ as construction resumes: Ripple effects of staying at home appear in small, nuanced ways in a new report, released by Joint Venture Silicon Valley. More
May 1, 2020 - (Silicon Valley Business Journal) - Silicon Valley's Covid-19 job loss picture becomes clearer: ...at least 27,481 jobs have been lost, according to a study by Joint Venture Silicon Valley's Institute for Regional Studies released Friday. More
May 1, 2020 - (ABC 7) - Coronavirus: Research shows big changes in Bay Area spending habits during COVID-19 shelter-in-place - "I don't think we realized that people would be buying up all the flour, all the pasta, all the toilet paper," noted Rachel Massaro at the Silicon Valley Institute for Regional Studies. "Those are things we hadn't thought of to put in our earthquake supplies. More
May 1, 2020 - (San Jose Spotlight) - Survival and ruin: Economic experts discuss Silicon Valley’s outlook: If Rip Van Winkle fell asleep after the State of the Valley conference February 14, Joint Venture Silicon Valley CEO Russell Hancock thinks he would be shocked at how the economic outlook flipped 180 degrees in just two months. More
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