San Jose Posts Nation’s Weakest Home Price Growth Amid Tech Layoffs

Local buyers gained a measure of breathing room in June as the San Jose metro area recorded the weakest year-over-year home-price change among the nation’s 40 largest housing markets. The median sale price fell 4.6 percent to $1.619 million, a drop of roughly $78,500 from the same month a year earlier, according to Homes.com data. Nationally the median rose $6,000 to $401,000.

San Francisco followed a different path. That city’s median climbed 7.2 percent to $1.7 million, lifted by concentrated AI hiring and startup activity that San Jose has not matched at the same scale. Analysts pointed to a sharp rise in second-quarter layoff announcements, including several thousand positions at Meta that touched Menlo Park, Sunnyvale and Fremont, plus additional cuts at Oracle, LinkedIn and Intuit. Recent monthly payroll reports also showed the broader Bay Area job market contracting after a period of modest growth.

Slower immigration has further cooled demand. Foreign-born residents make up about 41 percent of Silicon Valley’s population and have long filled high-skilled roles, founded companies and eventually purchased homes. With that pipeline thinning, one key source of both labor and housing pressure has eased. The resulting price softness stands out after years in which the region’s market appeared almost immune to gravity, raising questions about the longer-term strength of the local economic engine even as it offers short-term relief to would-be buyers.

San Jose remains one of the most expensive markets in the country, still more than triple the national median. Yet the recent dip, combined with rising inventory, gives shoppers slightly more choices and negotiating room than they enjoyed a year ago. Well-priced homes continue to move, but the balance has tilted just enough to matter for families and first-time buyers watching the listings.

For a city whose identity remains tightly linked to technology and global talent, the June numbers mark a noticeable shift. How the market absorbs further changes in employment and immigration will shape both housing costs and the broader vitality of Silicon Valley in the months ahead.

Source: SVBJ

Summer Bill Relief Arrives for PG&E Customers in San Jose

I bet you weren't expecting a 2nd PG&E story in the same day. This is one you'll want to read if they are your utility provider.

Residential PG&E customers across San Jose and the wider service area will see two California Climate Credits appear on their upcoming electric bills. Each credit totals $36.18, applied automatically to the August and September statements for a combined $72.36 in relief during the highest-usage months of the year.

The timing change came after the California Legislature and Public Utilities Commission moved the electric credits to summer, when cooling demand typically drives higher bills. Eligible small-business accounts already received their first credit in April and will see the second in October. Since the program began in 2014, PG&E households have collected nearly $1,200 in cumulative Climate Credits.

These funds come from the state’s Cap-and-Invest Program and represent the public’s share of proceeds from efforts to reduce carbon emissions. For many local households the extra credit arrives just as air-conditioning use climbs, helping offset seasonal spikes without any action required on the customer’s part.

PG&E has also lowered residential electric rates five times since early 2024. Combined with the summer credits, typical monthly bills now sit roughly $25 lower than two years earlier for standard customers and about $30 lower for those on the CARE discount. Additional tools such as rate-plan comparisons, home energy checkups, and efficiency financing remain available for anyone looking to stretch the savings further.

San Jose Tops the West as the Premier Technology Market

A fresh CommercialCafe study just confirmed what locals have long known: the San Jose metro area stands as the clear number-one technology market across the entire Western United States. Scoring 73 out of 100 points, the region finished nearly 20 points ahead of second-place San Francisco and left every other Western metro well behind.

The numbers tell a powerful story of concentration and compensation. Roughly 15 percent of all jobs here fall into computer and mathematical occupations, the only market in the study where tech employment topped 10 percent of the workforce. Median annual tech wages reached $196,595, the highest in the West and comfortably ahead of San Francisco and Seattle. Organizations based in San Jose secured 67,002 patents between 2020 and 2024, nearly double San Francisco’s total and more than triple Seattle’s.

Density of tech companies further locked in the lead. San Jose recorded 76.6 technology establishments for every 1,000 businesses, far outpacing Boulder and San Francisco. The metro also delivered 155 tech jobs for every 1,000 occupations, underscoring the sheer volume of talent still clustered in Silicon Valley even as smaller markets in Colorado, Utah, Nevada and Idaho posted faster percentage growth.

While places like Reno, Las Vegas and Provo showed impressive workforce expansion, none came close to matching the absolute scale, wages or patent output that define San Jose. The study evaluated more than 70 Western metros on employment, pay, business density, patents and quality-of-life factors, and the South Bay simply dominated the categories that matter most for a mature tech ecosystem.

These results reinforce San Jose’s position as the engine room of Western innovation. When companies look for the densest talent pool, the highest-paying tech jobs and the most prolific patent generators, they keep finding their way back to the same place. That advantage continues to shape the region’s future and keeps the City of San Jose at the center of the conversation.

Source: SVBJ

eBay Reinforces San Jose Commitment Through Strategic Office Consolidation

San Jose has secured another win for its corporate ecosystem as eBay opts to close the San Francisco office by the end of September and relocate 198 employees to the headquarters located at 2025 Hamilton Avenue.

This transition has brought together professionals spanning various departments, from senior directors and vice presidents to financial analysts and software engineers, all now anchored in San Jose.

The move has come amid broader workforce refinements at the company yet emphasizes a clear preference for the operational advantages available right here, including robust infrastructure and access to regional talent networks.

Source: SVBJ

Google Bolsters San Jose Presence Through Alviso Office Acquisition

Google has completed the purchase of a substantial office property in San Jose's Alviso neighborhood for $25.2 million. The two-story, 83,000-square-foot building at 4500 North 1st Street has joined the company's expanding collection of facilities in the area.

The acquisition has placed the new property directly beside the Meadow Point campus where Google already maintains nine buildings. Constructed in 2018, the facility came equipped with surface parking and will deliver immediate operational advantages through seamless integration with the surrounding infrastructure.

Thousands of Googlers will relocate to the Meadow Point campus this spring and bring more activity to northern San Jose. Google has restructured other real estate holdings at the same time by moving its cloud computing division to Sunnyvale and reducing subleased spaces. These steps have underscored a focused commitment to core locations here.

Anyone passionate about San Jose's future will see the benefits ripple outward as activity increases around Alviso. While it's not the 8 million SQFT Google campus we are all waiting for in Downtown San Jose, it's a step in the right direction.

Source: SVBJ

2026 Silicon Valley Index Confirms San Jose Region’s Remarkable Innovation Strength

The 2026 Silicon Valley Index has delivered compelling evidence of the powerful growth trajectory running through San Jose. The regional economy expanded 38 percent over the past decade, clearly surpassing growth recorded in California and across the United States. Venture capital investment climbed to $92 billion while local creators filed more than 23,000 patents in one year alone. Productivity has reached $336,515 per worker, standing 75 percent above the national average.

San Jose has anchored this dynamic ecosystem from the start. The city has helped sustain nearly half of the nation’s unicorn companies and attracted exceptional talent that continues driving breakthroughs in artificial intelligence and advanced technologies. Strong productivity numbers and elevated earnings levels have reinforced the area’s global leadership position.

These results have emerged from years of focused collaboration and bold vision. The Index has shown how San Jose has built an environment where ambitious ideas gain the support needed to reach the world stage. The latest data has highlighted a solid foundation capable of propelling San Jose toward even bigger achievements in the coming years.

Download the complete 2026 Silicon Valley Index report here: https://jointventure.org/images/stories/pdf/index2026-jvsv.pdf

San Jose Launches East Village Business Improvement District

San Jose continues focusing on building stronger neighborhoods by establishing the East Village Business Improvement District along East Santa Clara Street. This new district will equip local businesses with dedicated funding for cleaning, safety enhancements, marketing, and beautification projects that will elevate the entire corridor.

Spanning from Sixth Street to 22nd Street, the area features 356 businesses supporting approximately 1,100 jobs. Starting this summer, these businesses will pool resources through modest annual contributions ranging from $125 to $250 based on their zone. The collected funds will deliver consistent services that address cleanliness and visibility while fostering greater collaboration among owners.

The move builds on the success of San Jose’s existing business improvement districts and adds fresh energy to a corridor already gaining recognition. You will notice the positive changes as sidewalks stay cleaner, public spaces look sharper, and new events bring more life to the street. With San José State University nearby, East Village stands poised to become an even more dynamic destination that showcases the best of the city’s entrepreneurial spirit.

San Jose now operates five such districts, demonstrating a proven strategy that keeps commercial areas vibrant and competitive.

Source: SVBJ

PayPal Park Expands Its Role with Regular Concert Nights in San Jose

You'll soon discover more opportunities to catch major live performances at PayPal Park. The San Jose City Council gave unanimous approval for the stadium to host up to 15 concerts each year. This decision locks in the venue’s future as an essential part of the city’s entertainment lineup.

Careful planning went into the approval. City officials established volume limits and reporting requirements that respond to neighborhood feedback. You can expect concerts to run between 9 a.m. and 11 p.m. while maintaining respect for those living nearby.

The stadium delivered impressive results for the local economy. In 2024 events there produced $111 million in total economic impact and backed nearly 1,000 jobs. Concerts will amplify these benefits and bring more crowds to support Downtown San Jose businesses.

You also have big matches to look forward to at the park soon. The U.S. Women’s National Team will face Japan in a friendly. Fans will also see Cruz Azul take on Atlético Nacional. PayPal Park will additionally serve as a venue for early-round action in the 2028 Olympic soccer tournaments.

Source: SVBJ

Amazon's Last-Mile Hub: Bringing 600 Jobs to South San Jose

Amazon will be building a new distribution center at the corner of South Seventh Street and East Alma Avenue. The company acquired the 17.8-acre site five years ago for $59.3 million, and now is moving forward to replace six existing industrial buildings with a modern facility. This last-mile e-commerce hub totals 106,800 square feet, including 8,700 square feet of office space and 36,600 square feet for staging and loading, designed to handle efficient package sorting and dispatch.

Operations run 24 hours a day, with deliveries scheduled between 10 a.m. and 9:30 p.m. to serve customers in San Jose and surrounding spots like Campbell, Los Gatos, Scotts Valley, and Santa Cruz. Up to 52 truck trips daily bring items to the site, where workers prepare them for final delivery via vans. This setup strengthens local logistics, making faster shipments a reality for the community.

The project creates 600 jobs, with no more than 400 employees on site at once, adding to San Jose's employment landscape. Demolition starts in July 2026, followed by site preparation and grading through early 2027, with building construction wrapping up by October 2027 and full completion in December 2027. These timelines ensure steady progress toward operational readiness.

Source: SiliconValley.com

Boosting San Jose's Creative Scene with New Funding

San Jose has committed $6.7 million to energize its cultural landscape for the coming fiscal year. This includes $4.7 million distributed to more than 100 local events and organizations through the Cultural Funding Portfolio, marking an 8% rise from the previous allocation. Another $2 million will enhance city-operated programs such as CityDance and Make Music Day. These investments underscore the city's dedication to nurturing a thriving arts community amid recovery challenges.

Local artists and creatives stand to gain significantly from this support, which counters recent federal funding reductions affecting groups like Opera San Jose and the San Jose Museum of Art. By prioritizing transparency through a competitive application process, the city ensures resources reach those driving innovation and community engagement. Notably, over half of the grants target BIPOC-focused organizations, fostering diverse voices that enrich San Jose's cultural fabric.

This funding, sourced from the Transient Occupancy Tax, positions San Jose as a leader in integrating arts into economic growth. Following a recent $80,000 contribution from the San Jose Downtown Association, these efforts highlight collaborative momentum in the San Jose arts scene.

Source: SVBJ

Downtown San Jose Demonstrates Solid Economic Progress in New City Report

A recent report from the San Jose Economic Development and Cultural Affairs Office reveals encouraging signs of recovery and growth in Downtown San Jose over the 12 months ending in June. Jobs in the area reached an estimated 27,400 during the 2025 fiscal year, marking an 8.3 percent increase from the previous year's 25,300. This uptick reflects ongoing reinvestment efforts as the city navigates post-pandemic challenges, with employment figures climbing back toward the pre-2020 level of around 43,000 jobs. Such advancements signal a strengthening foundation for businesses and workers alike in the heart of Silicon Valley.

Foot traffic in Downtown San Jose rose 7 percent in the year leading up to April, indicating more people are returning to enjoy the area's offerings. The resident population held steady at about 23,000, a figure higher than in mid-2023 and consistent with recent years. Office vacancy rates edged up slightly to 29 percent, yet average asking rents improved significantly to $4.37 per square foot, a 21.7 percent jump from the prior year. These metrics paint a picture of a district adapting and attracting interest amid broader economic shifts.

San Jose State University's growing presence enhances Downtown's vitality, with developments like the Spartan Village on the Paseo providing 700 beds in a repurposed hotel tower since August 2024. This integration supports student life while boosting local activity. The report defines Downtown as the zone from Google's Downtown West near SAP Center and Diridon Station to areas bounded by Julian Street, Fourth Street, and Interstate 280, highlighting a mixed-use environment ready for expansion.

Looking ahead, Downtown San Jose prepares to host major events including the Super Bowl, FIFA World Cup matches, and NCAA men's college basketball games. These occasions will draw visitors and spotlight the city's evolving appeal. New business openings and public space enhancements further contribute to a welcoming atmosphere that invites exploration and investment.

By focusing on these positive trends, San Jose continues to build momentum as a dynamic urban center where innovation meets community. Residents and visitors have ample reasons to engage with Downtown, supporting its role in the region's prosperity.

Source: The Mercury News

Nvidia's GTC Conference: A Catalyst for San Jose's Economic Surge

Downtown San Jose recently experienced an mini-economic renaissance, thanks to Nvidia's GPU Technology Conference (GTC). This annual event, a magnet for thousands of tech enthusiasts, innovators, and industry leaders from across the globe, delivered a significant lift to the city's economy in 2025. According to a report from the San Jose Business Journal, this year’s GTC shattered attendance records and set new highs for economic impact, proving once again that San Jose thrives when technology and community intersect.

The numbers tell an impressive story. During the conference, hotel occupancy rates in Downtown San Jose skyrocketed to 95%, far surpassing the typical yearly average of 70%. This surge fueled a 30% revenue increase for local hotels compared to the same period in prior years. The momentum didn’t stop there—restaurants and bars near the convention hub reported a 40% jump in customers, with many extending hours to accommodate the flood of visitors. Retail shops also cashed in, enjoying a 25% sales boost from the heightened foot traffic.

The economic wave reached beyond hospitality and retail. Transportation services, like local ride-sharing platforms, saw a 50% spike in rides, while event planning and staffing agencies experienced a surge in demand. This broad impact underscores the power of large-scale events to spark growth across multiple sectors. San Jose’s ability to support such a dynamic influx reinforces its reputation as a city equipped for big moments, from its conveniently-located convention center to its rich array of dining and cultural options.

The success of this event offers a glimpse of what’s possible when innovation meets opportunity, setting the stage for even greater achievements in the years to come.

Source: SVBJ

Microsoft Bets Big on North San Jose with New Data Center

Even as Microsoft pauses other investment plans across the country, the company is pushing ahead with a North San Jose data center that has been in planning since 2017. The data center will utilize 397,200 SQFT on a 64.5-acre site at 1657 Alviso-Milpitas Road. The data center is expected to generate approximately $8.4 million in development impact fees and more than $10 million in annual property tax revenue. This financial influx will provide resources for city improvements, from upgraded infrastructure to enhanced public services.

The data center will likely draw more businesses and talent to North San Jose, sparking a ripple effect of growth and opportunity. Already home to numerous tech companies, this area is on track to become an even more dynamic center of innovation. The city stands to gain between $3.6 million and $6.4 million in annual revenue from taxes and fees related to the project.

San Jose’s leadership deserves credit for creating an environment that welcomes such developments. By streamlining processes and investing in infrastructure, the city has positioned itself as a partner to tech innovation. The Microsoft data center is a direct result of these efforts, and it hints at more exciting projects on the horizon.

Source: SiliconValley.com

San Jose's 2025 Plan

San Jose Mayor Matt Mahan wrote a summary of San Jose's 2025 strategic plan for the Silicon Valley Business Journal.

While there are economic and fiscal challenges, the tone was optimistic. The plan centers around creating a better government, not a bigger one... echoing what is happening nationally. San Jose is already leading in innovation, especially in AI with the highest per capita AI jobs and patents. San Jose generates more than double the number of AI patents of San Francisco and Oakland combined. 2025 will also be a year where San Jose embraces AI to enhance public services, including optimizing bus routes and repairs.

Housing is another key challenge. The plan is to streamline the permit processes, reduce fees, and speed up approvals. Policy reforms have already opened up capacity for 20,000 new homes in North San Jose.

Safety and homelessness will benefit from expanded foot patrols Downtown, getting repeat offenders off the streets, and 1,000 new temporary housing units.

More info will follow at the Journal's annual Economic and Mayor's Forecast event, but for now you can read the full article below (no paywall).

Source: SVBJ

2024 Silicon Valley Index

The Joint Venture Silicon Valley Index has been providing insights on our strengths, weaknesses, opportunities, and threats for over 25 years. It provides an honest and holistic view of life in Silicon Valley. You can download the 2024 Silicon Valley Index over here.

Have a quick look at the comparison between Silicon Valley and San Francisco in the image below. Here are some of my notes from the key findings:

• We're growing again with 11,300 new Silicon Valley residents last year.
• VC dollars going into AI have risen 220% year-over-year. Generative AI represented 44% of all 2023 VC investments in AI companies.
• Silicon Valley just had four IPOs last year. San Francisco had one.
• We're still generating more patents by far than any other place in the nation. San Jose is the top city in the nation yet again for patent filing.
• Silicon Valley's 20 largest tech companies were 7% smaller at the end of 2023 than than the previous year, but employment in tech still ended up being 37,000 employees more than pre-pandemic figures. Tech is now 28% of the workforce.
•  If wealth was evenly distributed in Silicon Valley, it would amount to $2 million per household.
• Silicon Valley's population continues to age, with those over 65 years old up by 32% since 2012 and the number of children down by 13% over the same period.
• The number of births each year in Santa Clara and San Mateo counties has declined steadily since the 1990s, dropping by 33% over 33 years.
• 51% of Silicon Valley speaks a language other than English at home
• The two largest office projects in Silicon Valley last year were both in Downtown San Jose, 200 Park (965,342 SQFT) and Adobe's 4th Tower (700,000 SQFT). The 3rd largest was a 350,000 SQFT building in South San Francisco.
• Silicon Valley childcare costs have quadrupled over the past 20 years, rising twice as fast as regional inflation.
• There were no unhealthy air days in the past three years, showing an improvement in air quality.
• Total solar capacity increased sixfold over the past decade, from 174 MW in 2013 to 983 MW in 2023. Batter storage grew twentyfold in the past 5 years.
• Gasoline and Diesel sales have steadily declined and are still 19% below pre-pandemic levels (presumably due to EV sales)
• 17% of all Californian EV charging outlets are in Silicon Valley, over 5,000 in Santa Clara County alone.
• Life expectancy is several years higher in Silicon Valley versus California or the United States.

2023 Silicon Valley Index

The Joint Venture Silicon Valley Index has been providing insights on our strengths, weaknesses, opportunities, and threats for over 25 years. It provides an honest and holistic view of life in Silicon Valley.

You can download the 2023 Silicon Valley Index over here.

Below are some of the key findings:

• The region continued battling surges, but the COVID death rate per capita declined in 2022.
• COVID-19 dropped to Silicon Valley’s sixth leading cause of death in 2022, down from third in 2021.
• The region recovered from pandemic job losses by April 2022. Unemployment hit an historic low. Tech is becoming more highly concentrated.
• Silicon Valley added 88,000 jobs between mid-2021 and mid-2022, a growth rate of 5.4%. An estimated 22,000 jobs were added in the second half of the year. The 30 largest firms account for 42 % of tech employment (19 % are at Google, Apple, and Meta alone).
• The rise and fall of the stock market drove large shifts in venture funding and IPOs.
• Pandemic-period stock market gains of nearly $9 trillion proved transitory as the market tumbled in 2022. Half of all venture capital flowing to Silicon Valley or San Francisco companies was in the form of megadeals ($24.7 billion spread across 116 megadeals).
• Demand for commercial space is tempered by remote work, but specialized R&D space is hot.
• Though remote work is shifting the dynamic, leasing activity remained strong throughout 2022. While there was a 45% increase in the number of lease agreements, the average amount of space per lease has sharply declined.
• Remote work is increasing, creating extra capacity on roadways and decimating public transit.
• The share of remote workers grew to 35% in 2022, up from 28% in 2021. Private commuter shuttles are being put out of service. Caltrain ridership fell to 4,100 daily riders, down from 67,000 (-92%). BART recovered 35% of its pre-pandemic riders.
• Silicon Valley’s population is declining; the share of young people is also falling.
• Silicon Valley’s population declined by 38,900 residents between mid-2020 and mid-2021, the highest figure ever recorded. The decline was due to a 74% rise in domestic outmigration, a reversal of the net flow of foreign immigrants (-103 %), declining birth rates, and rising death rates.
• The pandemic and patterns of outmigration haven’t affected soaring home prices
• Silicon Valley’s high home prices rose 7% in 2022, reaching a record-breaking median price of $1.53 million. The share of first-time homebuyers who can afford a median priced home fell to 27% and is as low as 14% for the region’s Black or African Americans and Hispanic or Latino residents.
• Inflation outpaced income gains; assistance programs scale upwards
• Increases in the regional Consumer Price Index since 2019 outpaced household income gains, resulting in a $550 decline in median household income in 2021. Childcare costs rose twice as quickly as the regional inflation rate since 2010 (+85%). Average wages vary significantly across racial and ethnic groups, with the largest disparity between Hispanic or Latino and White, not Hispanic or Latino residents.
• Silicon Valley has the nation’s largest gaps, and they are increasing.
• For the first time ever, ultra-high net worth households are included in regional wealth data. Through this lens, inequality is even more stark, with the top 0.001% of Silicon Valley’s households holding more wealth than the nearly 500,000 households in the bottom 50%.
• In 2022 the top 10 % of Silicon Valley households hold 66% of the wealth; eight Silicon Valley households residents hold more wealth than that of the bottom 50% combined (nearly half a million households).
• While income inequality was lessening in the state and nation (down 1 and 3%) it rose in Silicon Valley by 5% in 2021.
• 28% of Silicon Valley households are below income-adequacy; those households include 42% of the region’s children. 42% of children in San Mateo and Santa Clara counties live in households that are not self-sufficient; the most influential factor for these households is the cost of childcare.
• Income adequacy varies significantly by race and ethnicity. Among those most likely to live below Self-Sufficiency Standards are Hispanic or Latino non-citizens and those with limited English.

Silicon Valley Annual Check-up

In the video below Joint Venture CEO Russel Hancock summarizes the key learnings from the 2021 Silicon Valley Index. This year, special attention was paid to the impacts of the Coronavirus on our local economy. Other topics include income inequality, racial demographics, housing imbalances, patent registrations, and venture capital funding. The presentation provides an objective look at how our region is doing compared to previous years as well as the rest of the country.

If you find the content interesting, you can also read the whole 150-page study over here.

2020 Silicon Valley Index

The Joint Venture Silicon Valley Index has been providing insights on our strengths, weaknesses, opportunities, and threats for over 20 years. It provides an honest and holistic view of life in Silicon Valley, with the obvious exception that it was published before COVID-19. It's worth reading for a reminder of where we were at the start of 2020. We can use today's events as a chance to reflect on what we can do differently when we hopefully return to normalcy sometime later this year.

You can download the 2020 Silicon Valley Index over here.

Below are a few items that stood out for me:

• We have had nine continuous years of expansion since the last recession, adding 821,000 jobs in the Bay Area.
• Over that same time period, we only permitted 173,000 new homes and have 100,000 megacommuters [Josh: hopefully the option to work remotely continues for many post-COVID].
• Labor productivity reached a record $241,000 per worker, a 53% increase from 2001.
• Unemployment hit 2.1%, a 19-year low.
• More people are leaving the region than coming in.
• Home prices declined 6% in 2019, yet median home sale prices are still the highest in the country (over $1 million).
• Income inequality hit a historic high with 13% of households holding 75% of the region's wealth.
• Internet speeds are slow compared to SF, California, and the country as a whole [Josh: this is shocking for living in the middle of Silicon Valley].
• Individual median income is $117,000 and 82% of the population is above 150% of the poverty level.
• Silicon Valley's ethnic breakdown is 35% Asian, 33% White, 25% Hispanic/Latino, 5% Multiple/Other, and 2% Black/African American.
• 24% of Silicon Valley residents have Graduate or Professional Degrees.
• 51% of families speak a language other than English at home (vs. 41% for SF, 45% for California, and 22% for the US).
• The Bay Area has by far the largest number of tech jobs and greatest % of people employed in tech out of any region in the US.
• 9% of Silicon Valley Residents lack access to adequate food and nutrition
• San Jose generates more patents than any other city in California (11% of all CA patents in fact).
• In 2019, traffic delays cost as much as $3.4 billion in lost productivity for Silicon Valley workers.

San Jose Development Projects

The SJ Economy blog has released a slick interactive map showcasing major development projects in the area. The map was developed along with the City of San Jose's Public Works GIS team.

The number and scope of projects in the pipeline right have to be an all-time high. We're talking tens of millions of SQFT of development. When using the interactive map, don't forget to use the tabs to see ALL of the projects.

Check out the map over here.

San Jose ranked fastest-growing city in the world, 2019-2035

As we already know, San Jose has one of the best performing economies anywhere. That does not seem destined to change anytime soon based on a new report from Oxford Economics. They are predicting that San Jose will have the fastest growing urban economy in the world over the next 16 years.

If the 3% GDP growth rate is correct, that means our economy will be 50% larger by 2035. The growth rate dwarfs San Francisco but would still not put us anywhere near New York or Tokyo in total economic contribution. However, those cities have much larger populations to work with. We do have the highest GDP per capita in the United States, which contributes positively to salaries and investment.

For more info check out the link below.

Source: SJ Economy Blog