Joint Venture Silicon Valley Releases 2015 Index
At the February 4, 2015 annual forum, Joint Venture Silicon Valley released its 2015 Silicon Valley Index report. The report cites that we're in a hot economy, but while employment levels have exceeded pre-recession levels and incomes are on the rise, issues of housing, transportation and disparities in income and employment opportunities continue to impact the Valley’s success. Excerpts from the report include:
- Silicon Valley’s job growth rate (4.1%) is the highest it’s been since 2000, adding nearly 58,000 jobs and exceeding the 2013-14 job growth rate of the Bay Area;
- In 2013, median household income increased 1.3% in Silicon Valley to $94,534 and jumped 3.8% in San Francisco to $79,778; however, income disparities continue between workers of different skill and educational attainment levels and between genders;
- Housing prices and rental rates continued to rise in 2014, with a median home sale price up 7.5% to $757,585 and an average rental rate up 11% to $2,333/month in Santa Clara and San Mateo counties;
- Commuter rates increased 33% between 2011-2013;
- Silicon Valley venture capital investments were higher in 2014 than they have been since 2000, with software companies attracting a larger share; and
- San Francisco has become a major driver of the region’s economic prosperity.
To read the full report, please visit the Joint Venture website.