Council Forms Megaregion Partnership with Sacramento to Keep Jobs, Grow Economy
The Bay Area Council today announced a new partnership with the Greater Sacramento Area Economic Council as part of a campaign promote the integration of the Bay Area and the Capital Region into a single high-performing economy by developing and leveraging a joint civic, business, and policy platform. The #CaliforniaJobsMatter campaign will focus on the Sacramento area, the Central Valley, and the mega-region. Sacramento Mayor-Elect Darrell Steinberg and Bay Area Council CEO Jim Wunderman will lead the mission.
“Our regions will come together and compete on a national stage to host some of the most innovative companies,” Bay Area Council President and CEO Jim Wunderman said. “Connecting these regions through the Capitol Corridor will help drop commute times to under an hour and further bolster this competitive advantage.”
“The Northern California mega-region strategy will provide communities in the Greater Sacramento area access to opportunities in the most innovative market in the world, and vice versa,” Greater Sacramento Area Economic Council CEO Barry Broome said. “California is the world’s 6th largest economy and is the most innovative and profitable state for business – but we lack a placemaking strategy for communities that are without jobs.”
The Sacramento region is the competitive response against alternative economies including Texas, Utah, and Colorado, which are regularly targeting our key industries. The region has access to high-demand talent with 308,000 actively enrolled college students in the area who are adding to the already talented workforce. In the Sacramento region 31.1% of the residents have at least a 4-year degree and 49.4% of them are in STEM fields, the 4th highest amount nationally.
Connecting these jobs to the mega-region will stabilize the state’s economy, create employment opportunities, and keep tax dollars in California’s education and health systems, which will also help alleviate high levels of youth unemployment, decrease economic distress in neighborhoods, and support middle class employment for California residents.
“This is a great opportunity for us to partner with the Bay Area region and create a corridor for businesses to come and thrive in the Sacramento region,” Sacramento Mayor-Elect Darrell Steinberg said. “Choose Sacramento over Texas, our region offers talent and resources that can help facilitate the Bay Area’s rapid growth in a more innovative and sustainable way.”
Greater Sacramento will launch an office in Sunnyvale to further interconnect the Capital region with the Bay Area as one high-performing market, creating the Sac-Bay innovation corridor within the Northern California mega-region.
A growing rate of job loss in the state is masked by the strong job creation in the Bay Area. Such reliance on a single economic market puts into question the long-term economic sustainability of California as a whole. Robust, diverse, economies depend on a mix of advanced and legacy industries.
The Bay Area Council Economic Institute, the research arm of the Bay Area Council, in July released a report examining the emerging megaregion, including the need for stronger transportation and workforce development connections.
The Northern California mega-region strategy will connect communities such as Sacramento, Tracy, Vacaville, Stockton, and others to the Bay Area region. Greater Sacramento will work with the Bay Area Council to defend California-based jobs against out-of-state competitors.