welcome bay area regional economic vitality conversation june 11, 2004 made possible through...
TRANSCRIPT
Welcome
Bay Area Regional Economic Vitality ConversationJune 11, 2004
Made possible through generous support from Pacific Gas and Electric Company
Background for Bay AreaBackground for Bay AreaEconomic Vitality ConversationEconomic Vitality Conversation
June 11, 2004June 11, 2004
Presented by: Stephen LevyPresented by: Stephen Levy
Increasing California's Competitive Edge
Reduce the Negatives Workers' Compensation Energy Costs Housing Costs Improving the Efficiency of Regulations
Increase the Positives Investing in Education Investing in Transportation Creating Great Communities to Live & Work
If Job Growth Matched Past 7 Recoveries
The United States Would Have 6.2 Million More Jobs
California Would Have 688,000 More Jobs
A Decline in U.S. Manufacturing?
8%
10%
12%
14%
16%
18%
20%
22%
24%
Jan-
75
Jan-
77
Jan-
79
Jan-
81
Jan-
83
Jan-
85
Jan-
87
Jan-
89
Jan-
91
Jan-
93
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99
Jan-
01
Jan-
03
% E
mp
loym
ent
in m
anu
fact
uri
ng
40
50
60
70
80
90
100
110
120
130
US
Man
ufa
ctu
rin
g O
utp
ut
Employment: A Victim of Productivity Gains & Industry Shifts to Capital Intensive Sectors
Where We Are NowWhere We Are Now
Bay AreaBay Area
California Economic Regions Show California Economic Regions Show Different TrendsDifferent Trends
Industries Matter for Regional GrowthIndustries Matter for Regional Growth
The LA Economy: Stronger Than Payroll #’s
Rents: Change 01 Q1 – 03 Q4
Center City Off
Suburban Off Industrial Retail Apts
SACRAMENTO -2.5% -8.5% -4.8% 8.0% 6.3%SAN DIEGO -2.6% -10.1% 5.0% 5.6% 7.0%INLAND EMPIRE -4.4% 7.3% -3.1% -1.9% 14.8%LOS ANGELES -10.3% -4.9% -4.4% 1.4% 5.3%ORANGE COUNTY -14.6% -13.4% -9.6% -2.2% 1.4%National Average -20.5% -20.8% -9.9% -0.9% -4.5%OAKLAND -36.9% -28.8% -19.2% -5.1% -25.9%SAN JOSE -54.4% -62.3% -31.2% -11.3% -36.7%SAN FRANCISCO -59.7% -61.0% -25.5% -12.0% -31.2%
But Manufacturing is Not the But Manufacturing is Not the Major Part of the Bay Area's Major Part of the Bay Area's
Economic BaseEconomic Base
Bay Area Economic Base
376.8
217.8
208.1
192
165.4
117.1
108.8
40.1
0 100 200 300 400 500
Prof., Tech., Sci. & Mgmnt.Serv.
Whsle. Trade and Transp.
High Tech Manufacturing
Diversified Manufacturing
Basic Government
Basic Information Services
Entertainment and Tourism
Resource Based
(Thousands of Jobs in 2002)
Increasing California's Competitive Edge
Reduce the Negatives Workers' Compensation Energy Costs Housing Costs Improving the Efficiency of Regulations
Increase the Positives Investing in Education Investing in Transportation Creating Great Communities to Live & Work