Study Highlights Silicon Valley’s Powerful Economic Mix

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Silicon Valley, for all its costs and social woes, is still a technology industry paradise, according to a report by a group called the Silicon Valley Competitiveness and Innovation Project.

The report looked at a total of 23 indicators of economic strength and compared Silicon Valley with five other regions across the United States. The group said it was looking for a strategy to enhance innovation, and to ensure that residents had access to the jobs in key industries. Based on the strength of the findings, the strategy should mostly amount to “don’t stop.” The study, which was supported largely by local corporations, did call for some changes, though: more government spending on education, less restriction on immigration and fewer regulations on business. It did not say what local regulations were particularly burdensome. By this group’s reckoning, the valley had 26 percent of the nation’s innovation employment, well ahead of Boston, which came in second with 18 percent of the total. The other areas were Seattle (16.5 percent), Austin (16.4 percent), Southern California, (15 percent) and New York (14 percent.)


Study Highlights Silicon Valley’s Powerful Economic Mix