San Francisco: Difference between revisions

 

Motto:''Oro en Paz, Fierro en Guerra'' (Spanish); (English: "Gold in Peace, Iron in War").

 

== Economic Growth and Diversification ==

 

Since the 1990s, San Francisco's economy has moved increasingly towards the prominence of high-tech, biotech, and medical research. Tech jobs accounted for 1 percent of the city's jobs in 1990. They had grown to 4 percent by 2010 and to an estimated 8 percent by the end of 2013. The San Francisco-Oakland-Hayward Metropolitan Statistical Area (a census designation) saw 90 percent tech industry growth from 2006-2016 according to a report by Praxis Strategy Group. San Francisco can now be said to be an important center for technology, Internet and social media companies (and especially for start-up businesses), attracting increasing venture capital funding compared to neighboring Silicon Valley - a trend the city has attempted to encourage with measures such as payroll tax exemptions for certain kinds of desirable companies.