This week’s SF Business Times declares that the Bay Area is an oasis amid bleaker state and national landscapes. Here’s why:

Job growth has not slowed. Unlike the Central Valley, Los Angeles and SanDiego regions, which saw scary declines from 2006 levels, our job growth remained steady over the last year. Credit Web 2.0, tech companies, green industry, and biotech with keeping the new jobs flowing.

The juggernauts of Apple and Google have hit all-time highs. Apple crossed the $200-per-share mark for the first time last week and Google recently hit an all-time high of almost $750 a share. The strong performance of these stellar growth companies creates substantial wealth among employees and investors across the region.

2006 was an active year for venture capital investment. VCs put an estimate $30 billion to work last year. That’s great news for the Bay Area, which has typically received a third of all venture dollars invested.  And 2007 is shaping up to be the most active year since 2001 for venture investment. 

Sales tax collections are up. While statewide sales tax revenue dropped 2.2%, San Francisco’s sales tax revenue is up 4.5% from last year.  Tourism is the main reason: a weak dollar makes us a choice destination for European travelers. The weaker dollar also inclines more Americans to choose San Francisco visit over a trip to Europe.

The verdict is still out whether the Bay Area can continue to be insulated from the worst of the nation’s housing meltdown and economic slowdown. But we have reason to enter the new year with reasons for confidence.

This entry was posted on Wednesday, January 9th, 2008 at 2:39 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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