San Fransisco

• What is San Francisco known as?

  • an international centre for commerce and innovation, particularly as a hub for the technology industry 
  • IT and digital media companies, like Twitter and Dropbox, have their headquarters there
  • There is also a large cluster of bioscience companies based there, which has fuelled job opportunities
• How is the multiplier effect fuelled in San Francisco?

  •  by its technological and transportation infrastructure, high quality of life and highly skilled workforce
  • San Francisco is one of the wealthiest cities in the USA, with low unemployment levels of about 3% (Unemployment rate for the USA = 3.9%)
• Why is the large cluster of bioscience companies in San Francisco beneficial?

  • It has attracted highly educated migrants from across the USA, as well as Asia
  • In 2019, 190,000 immigrants gained permission to work long-term in California, where San Francisco is located
• San Francisco stat about unemployment?

  • San Francisco is one of the wealthiest cities in the USA, with low unemployment levels of about 3% (Unemployment rate for the USA = 3.9%)
• Evidence for inequality in San Francisco

  • In San Francisco, the average income of the top 1% of households in the city averages $3.6 million, 44 times the average income of the bottom 99%
  • The city is facing an affordability and housing crisis
  • In 2015, 64,000 jobs were created but only 5,000 new homes were built
  • The average house in San Francisco now costs over $1.25 million
  • The arrival of tech companies has led to the gentrification of poorer neighbourhoods (e.g. Tenderloin) so that many existing residents can no longer afford to live there