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why San Francisco is a successful - Coggle Diagram
why San Francisco is a successful
Education
46% of workers possess a Bachelors or some form of formal education.(compared to the 28% of people on average across the United States)
the Bay area is one of the nations top 4 regions in terms of education attainment
high concentration of research universities
World-class education institutions:University of California campuses and Stanford serve as anchors, the Bay Area accounts for more top graduate programs than any other region in the nation. Five California State University campuses, 26 California Community Colleges
Industry
industry in the Bay Area is heavily concentrated in sectors that require a high-skilled labour force and sectors related to tourism
Region's most concentrated industries are Professional, Scientific, and Technical Services
Other sectors with heavy concentrations in specific sub-regions of the Bay Area are Accommodation and Food Services and Arts, Entertainment, and Recreation, both of which are highly dependent on the region’s tourism industry.
share of Bay Area employment in PSTS is twice that in the rest of the country, with heavy concentrations in San Francisco and the Peninsula
The Information sector, primarily software publishing companies, is heavily represented in the region and also has a large share of high-skilled workers. In this category are companies such as Oracle, Adobe, Electronic Arts etc
Employment
As of January 2015, 4.8 % of Bay Area residents were unemployed, compared to the national average of 5.7%.
employment in the area is growing slowly
The extremes of stagnant employment and rising GDP per capita is explained by the changing nature of jobs in the Bay Area
within industries are also moving toward the employment of relatively more educated workers
This increased demand for skill has had a positive influence on average wages in the region. Over the last 20 years, wages in the Bay Area have increased at a pace significantly exceeding that of the rest of the country. Average wages have always been high in the Bay Area, in 1981 the gap between Bay Area wages and wages in other parts of the state and nation began to grow. That year, Bay Area wages were on average 16% higher than wages in the U.S. economy as a whole. By 2010, this figure had grown to 52%.
Connections/Transportation
Port of San Francisco
Transit-oriented development in the Bay Area with plans for a new downtown in Santa Clara, the ongoing Silicon Valley Bay Area Rapid Transit (BART)
2 international airports: Oakland International, San Francisco International (hub)
San Francisco’s redevelopment of the Transbay transport terminal which will involve the extension of the Caltrain to Downtown San Francisco and make it the centre of a new transit-friendly neighbourhood.
Innovation
Bay Area has been the world's leading innovation centre for the past 60 years. Its impact on the economy and how it operates, from enterprise productivity to health and communications, has been immense
The region’s ability to play a role in the creation of entirely new business paradigms and spaces of social activity—including personal computers and smart phones, semiconductors, cleantech, biotechnology and personalized medicine, relational databases, .
Examples include: Google, VM Ware, Genentech. Facebook and Zynga have in only a few years grown from just a few dozen employees to 30,000, 12,000, 11,000, 4,000 and 3,000
Physical Geography
San Francisco is on a peninsula surrounded by the Pacific Ocean, the Golden Gate strait, and San Francisco Bay
. It's hilly in places in flat in other
Quality of life
The overall quality of life in San Francisco is high
The average household income in 2014 was $89,000
Investment
Between 1995 and 2011, yearly venture capital investments in the Bay Area increased from $453 million to just under $3 billion
Most of this growth has come in high value-added sectors such as Software and Computer and Peripherals Manufacturing. The Bay Area was the recipient of between 45% and 75% of all venture capital investments in each of these sectors in the United States in 2010
Many in the local economy are inspired to try to develop “the next great thing"
Why is the area is not successful for all?
house prices are expensive therefore not accessible for all