Silicon Valley leaders gather to discuss region's economic engine

SAN JOSE, Calif. (KGO) -- Silicon Valley and Bay Area leaders gathered Friday to figure out how to keep the region's economic engine going strong.

Despite high job growth right now, there are signs of a slowdown.

Tech executives and political leaders met all day in in San Jose to talk partnerships, trends, concerns, and how the region can keep its status as the center of innovation and wealth.

Snap's wildly successful IPO Thursday may have boosted confidence in the valley's outlook, but speakers at the Silicon Valley Competitiveness and Innovation Project warned we need better training of future tech workers.

"What I recognize more than ever, it's lifelong learning, it's forever learning. In an on-demand economy, you better have on-demand education," California Lieutenant Governor Gavin Newsom said.

"We've got our work cut out for us. In addition to that work we also have the traditional challenges, and housing costs," San Jose Mayor Sam Liccardo said.

One example cited is the average Silicon Valley worker spends 70 minutes per day commuting, second only to New York City.

Another concern is a drop in new entrepreneurs and venture capital over the past few years.

Today's speakers and participants agreed that the key is for businesses and policy makers to work together on these challenges and to ensure Silicon Valley keeps its competitive advantage and job opportunities.
Copyright © 2022 KGO-TV. All Rights Reserved.