News

Silicon Valley tech industry on rise, study shows

Industry expecting 15 percent growth in jobs over next two years

Silicon Valley's tech industry is emerging from recession and heading for a 15 percent growth in jobs over the next two years, according to an economic development study of Silicon Valley released Tuesday (July 19).

The study, conducted over a period of eight months and based on 250 employer surveys and more than 50 executive interviews, was released a day after Cisco announced the company is eliminating 6,500 of its jobs.

Stephen Levy, director of the Palo Alto-based Center for Continuing Study of the California Economy and an author of the study, said it is unclear what implications that decision will have on growth prospects. He said the move indicates that Silicon Valley is in a constant state of flux.

"Cisco has had a very strong rise in employment over the last 10 years, so this has to be put in context," Levy said. "There are always going to be companies that for some reason or another shrink."

The study suggests the industry is shifting from hardware-oriented sectors to the Internet, applications and social networking.

Since December 2009, tech companies have added 13,000 jobs with expansions planned for Google, Facebook and Skype, Levy said. The sponsoring workforce boards for the study included NOVA, based in Sunnyvale, and Work2Future in San Jose and San Mateo and Santa Cruz counties.

The report, titled "Silicon Valley in Transition: Economic and Workforce Implications in the Age of iPads, Android Apps and the Social Web," can be accessed here.

— Bay City News Service

Comments

Like this comment
Posted by more traffic
a resident of Downtown North
on Jul 20, 2011 at 12:09 pm

More jobs = more traffic, school overcrowding, and higher home prices. Is that what we really want? All these nerds shop on Amazon anyway, so they don't contribute to local sales taxes to help improve the community.


Like this comment
Posted by THREATEN
a resident of Southgate
on Jul 20, 2011 at 12:24 pm

DOES THIS DEVELOPMENT THREATEN THE AREA/US?


Like this comment
Posted by musical
a resident of Palo Verde
on Jul 21, 2011 at 3:54 am

Irony = people who use tech tools to complain about tech industry.

Those extra property tax dollars will help rebuild our infrastructure.


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