Silicon Valley offers hope for job seekers

December 2, 2009 7:01:27 PM PST
The search for jobs was the focus of a major gathering in Silicon Valley that Governor Schwarzenegger and dozens of top executives attended. They are sending a message to the president of where the new jobs will be.

Here's some good economic news: SunPower of San Jose is in a growth mode and even considering building a manufacturing facility in California.

The CEO and many others say green jobs will help lead Silicon Valley out of the recession.

"Green energy growth, because it solves three things at the same time -- It solves global warning, it solves the economy and solves energy security," said SunPower CEO Tom Werner.

Governor Schwarzenegger is considered an ally in the fight for green jobs which is why some 60 CEO's and business leaders gave him a warm reception today for a roundtable on the economy.

Silicon Valley has a 12 percent unemployment rate and after two difficult years some companies say they are ready to begin hiring again.

"We want to be ready when this starts to pick up and of course we are already starting to see a pick up in Asia and some parts of Europe," said Polycom CEO Robert Hagerty.

The discussion in Silicon Valley comes just one day before the Obama administration holds a similar forum on jobs and economic growth at the White House.

Google's CEO will be there and told us his message to the administration is to get the banks to start lending again.

"We gave them a lot of money. We've literally bailed them out and they used it to increase their balance sheets and increase their reserves we could reduce their reserve requirements, we could make it easier for them to lend, we could tell them they have to go by regulatory changes," said Google CEO Eric Schmidt.

Many people focused on the economy say an aggressive effort is needed to speed up what appears to hints of a slow recovery.

"I think here will be significant conversations tomorrow about some forms of tax breaks for businesses to prime the pump for hiring in some ways, Ph.D.

Even with challenges ahead, you get a sense the mood in the valley is improving.

"Everyone still talks about the dream of coming to California. There was no one jumping up and down and saying I am going to fight and do everything I can to get to Oregon," said Gov. Arnold Schwarzenegger, R-California.


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