New Report Shows Silicon Valley Faces Long Road Out of Recession

Increased global competition and California government gridlock spells long recovery period for the innovative region

The 2010 Silicon Valley Index reports that the economic recession has stalled the region’s Innovation Economy, and there needs to be a collective call to action to bring Silicon Valley back to sustained prosperity and growth.  The Index also stresses that Silicon Valley cannot rest on its laurels and decorated past as the US hub for innovation and entrepreneurship.

The annual Index tracks multiple economic indicators in five major areas: People, Economy, Society, Place, and Governnance.  The report details various challenges facing the region all at once, including steeper than average job losses, home value declines, shift in venture funding from semiconductor and software to biotech and energy, and declines in being able to attract foreign talent for highly skilled jobs.

The Silicon Valley Index was released by Joint Venture: Silicon Valley Network and the Silicon Valley Community Foundation.

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