SANTA CLARA – Solutions to the Bay Area’s increasingly brutal traffic and housing woes won’t necessarily arrive with ease, said business, government and political leaders Friday, at a conference focusing on Silicon Valley’s ability to compete against other innovation hubs.
The Silicon Valley Competitiveness and Innovation Project conference, held in Santa Clara, focused primarily on solutions to the region’s toughest challenges, but also brought sobering revelations about the area’s difficulties.
“For the first time ever, we are seeing more people leaving Silicon Valley than are migrating into this area,” said Brian Brennan, a senior vice president with the Silicon Valley Leadership Group, which sponsored the conference.
During 2016, Silicon Valley and several other innovation hubs experienced a net exodus of residents, according to U.S. Census Bureau population estimates. Silicon Valley endured the departure of an average 42 residents a month… (more)
If we look back a few years into past history we can see that a lot of promises to bring jobs into the Bay Area were made and a lot of “good deals” to employers succeeded in bringing high tech jobs here. Assumptions were made that enough money would come in to pay for all the structural changes that fast population growth would bring with it. Studies prove how unrealistic assumptions can be.