Real Estate Articles
SVLG CEO tells Realtors Silicon Valley has many strengths
While much of the country grapples with a troubled economy, Carl Guardino is optimistic about Silicon Valley, a place that might be an exception to the rule. The CEO of the Silicon Valley Leadership Group says Silicon Valley is like no other place because it has many strengths. In fact, the image Silicon Valley projects is so powerful the name is used by many companies that are located in other parts of the country.
The guest speaker at last week's Silicon Valley Association of REALTORS® (SILVAR) Palo Alto District tour meeting, Guardino told SILVAR members there's much talent in Silicon Valley. The region has a diverse, highly educated and highly skilled work force. The Valley has an entrepreneurial mindset, from which "waves of innovation continue to break," from aerospace/defense, semiconductors, personal computers, software, Internet, green tech, smartphonesand electric vehicles.The region's proximity to customers, as well as competitors, creates an environment for co-opetition, prompting companies to save money on shared costs while remaining fiercely competitive in other areas.
Three of the top 15 universities in the world are in Silicon Valley. In 2010, Bay Area companies received 45 percent of all venture funding nationwide. Last, but not least, the average temperature here is 72 degrees, with 300 days of sunshine. It's no wonder many people want to live here, Guardino said.
"I am optimistic about Silicon Valley because of these strengths," said Guardino.
However, it's not easy to live and work in Silicon Valley, Guardino acknowledged. Businesses face high housing costs, business taxes, recruitment costs, a costly state budget structure and health care costs. Employees face similar challenges, including high housing costs, high taxes, traffic congestion, and rising concerns about health care and K-12 education.
Guardino wants the state to focus on improving the K-12 education, continue the research and development tax credit, invest in traffic relief, create affordable housing, and improve higher education. He believes traffic congestion can be solved with a 16.1-mile Bart extension and by keeping Caltrain, which is now operating on a deficit, running.
SVLG's math initiatives have trained 74 teachers this year. SVLG plans to train 100 teachers next year, and pilot a measurement for student growth. This year, SVLG began a 12-hour "Professional Learning Community" component, where teachers will meet in small groups to talk about how they are using their new content knowledge to improve their instruction in the classroom.
All these will bring more value to Silicon Valley, according to Guardino. What is the value of a job in California? Guardino says in semi-conductor manufacturing, one job creates five more and these six jobs total $476,000 in wages and benefits and generate $70,800 annual revenue in state and local taxes and fees; electronic computer manufacturing, one job creates eight more and these nine jobs total $808,000 in wages and benefits and generate $114,900 annual revenue in state and local taxes and fees; in pharmaceutical preparation manufacturing, one job creates seven more and these eight jobs total $701,000 in wages and benefits, and generate $100,200 annual revenue in state and local taxes and fees.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.