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Performance of urban information technology centers: the boom, the bust, and the future
After being emblematic of the U.S. economic surge in the late 1990s, urban areas that specialize in information technology (IT) products have more recently been struggling with the aftermath of the IT spending bust. To what degree can they bounce back and reemerge as leaders of innovative activity and production in the IT sector? We examine the characteristics of some of the nations leading IT centers, linking these characteristics to a discussion of economic research concerning the sources of growth in urban industrial centers. Although each of these IT centers was hit hard by the IT bust ...
Trends in Bay Area IT employment
The San Francisco Bay Area has long been a key center of information technology (IT) innovation and production. This Economic Letter explores how IT employment trends have evolved in this area, as well as how they compare to other key IT centers and the nation. The findings show that, although the region has seen a modest decline in its share of the nation's IT jobs while other key centers have seen gains, the Bay Area remains the national leader in IT employment. In particular, sectoral shifts from IT manufacturing to IT services within the Bay Area over the last decade, coupled with ...
The Bay Area economy: down but not out
After being the quintessential darling of the nation's economy, the San Francisco Bay Area has been battered by the information technology (IT) downturn; nearly one in ten jobs in the Bay Area has disappeared since the peak of late 2000, and half of those were in the IT sector. This Economic Letter explores the sources of the boom and bust in the Bay Area and puts the region's recent contraction in the context of the U.S. and other regional IT centers. This Letter also compares the current episode of weakness in the Bay Area to the long and deep recession in the Los Angeles area in the early ...
Local payroll taxes and local employment