new report: tri-valley rising 2018
There’s a valley in the Bay Area that has been leading the region in job creation over the past 12 years, but it’s not the valley you might be thinking of. A new report the Bay Area Council Economic Institute released Wednesday (July 18) examines the economic juggernaut that is the Tri-Valley, an area encompassing the cities of Danville, Dublin, Livermore, Pleasanton and San Ramon. Bay Area Council CEO Jim Wunderman led a discussion at the release event in Pleasanton with a panel of the Tri-Valley’s business and community leaders.
This isn’t a story, however, about competition with the other valley just across the Bay. It’s a story about connections, the Tri-Valley’s continuing ascendance as a technology and innovation powerhouseand its place at a key intersection of the growing Bay Area megaregion. With a GDP of $42 billion, the Tri-Valley economy is larger than the states of Wyoming and Vermont. The Tri-Valley’s 35 percent increase in jobs since 2006 exceeds San Francisco (31 percent), Silicon Valley (19 percent) and California (8 percent).
The report, which was produced in partnership with Innovation Tri-Valley Leadership Group, analyzes the incredible jobs and economic growth in the Tri-Valley, the factors that are fueling it—including the most educated workforce in the Bay Area—and the challenges that it faces as the region’s housing and traffic crises worsen. The report also highlights the important role of the Lawrence Livermore National Laboratory and Sandia National Laboratories in creating a rich ecosystem of investment, entrepreneurs and talent around which the local innovation economy is thriving. It also highlights how employers like Bishop Ranch, which has launched its own technology accelerator and is piloting autonomous shuttles, are leading the charge in embracing the valley’s growing technology sector.
The report also highlights the Tri-Valley’s key role as a job and population center for the Northern California megaregion, and it provides recommendations to ensure the future sustainability of megaregional growth, such as a focus on transit-oriented development and creating new clusters of innovation.