Tech is back!
Here’s your “Did you Know” bit of trivia for today. Want to know how powerful Silicon Valley is? Take a look at this chart.
With a GDP of $535 billion, the San Francisco Bay Area comes in at #19, making it larger than the economies of Switzerland, Belgium, Taiwan and Sweden, among others. If it ever supplanted the United States at the top of the list, that could make for quite an interesting story.
The data was released by the Bay Area Council Economic Institute as part of their annual Economic Profile.
Not surprisingly, the region is becoming increasingly specialized in computer manufacturing, information, and services:
Though the Bay Area (30 companies) trailed New York (45) when it came to HQ representation of Fortune 500 companies, it lead all others with 26 of the fastest growing.
Another interesting tidbit from the 68-page report that would likely make Michael Porter (heck, or Geoffrey Moore… let’s keep this thing local) is the mix of assets that create a vibrant culture for innovation:
Read the entire report (68 pages) via the Bay Area Council Economic Institute.