SFCED | San Francisco Center for Economic Development


Tech City: Too Much of a Good Thing for San Francisco?

San Francisco’s red-hot economy continues its positive trajectory, thanks in large part to its red-hot technology industry.

Well-paid, talented and mostly young, the ranks of the city’s tech workers swelled by more than 13,000 since 2010 to nearly 50,000 today — accounting for more than 30 percent of the city’s job growth during that time.

This is great news to a city that had unemployment peak at 10.1 percent in January 2010 and had to slash millions of dollars from its budget for several years.

At the same time, tech firms’ growth has become a flashpoint in a public debate, with a portion of the San Francisco population feeling the tech industry is too dominant in city affairs and having a negative effect on housing affordability and neighborhoods.

But how much tech is too much? Has San Francisco become overly dependent on one industry in the same way that Detroit’s fortunes have been linked to auto manufacturing or New York’s have been tied to finance, destined to rise and fall in lockstep?

Economists and city officials say no.

Read more: San Francisco Business Times Tech city: Too much of a good thing for San Francisco? – San