Though tech startups are beginning to grow outside of Silicon Valley and other parts of northern California, evidence from the Progress Policy Institute (PPI) showed that growth in these areas has yet to slow down.
San Francisco, for example, has a PPI index of 3.8, which means that technology jobs account for at least 3.8 percent of the county’s employment. This may not sound like a large portion of the city’s workforce, but between 2007-2012, tech jobs have grown 51.8 percent in this area alone.
“[A] vibrant tech/info sector tended to make the difference between a local economy that had recovered by 2012, and one that was still in decline,” PPI researcher Michael Mandel writes.
As the American economy continues to improve, many have technology businesses to thank. For every one technology position that opens, another five “spinoff” jobs are created, Atlantic Cities reported. This situation occurs because the invention of one product inspires the creation of other innovations or tools for the same product or application.
San Mateo and Santa Clara counties, also known as the heart of Silicon Valley, took the number two and three spots of PPI’s list. These communities showed an index of 2.6 and 1.8 respectively. Even though these towns have shown promise relative to other local and national markets, this success has caused other consequences.
Living in northern California comes with quite a cost, and while successful technology workers can afford to make the Bay Area their home, aspiring startups and other business owners might not. Though Mayor Ed Lee is trying to build additional affordable living options for the city, the price of rent and other living expenses have remained high.
Businesses that want to make San Francisco and its neighboring towns their home can improve the bottom line with the support of a northern California used office furniture retailer. These retailers offer lightly used, but functional, work furniture to help entrepreneurs have the products they need to compete with other aspiring companies.