Moving toward an idea economy

While Silicon Valley is producing more high-end jobs, the region is not doing enough to prepare residents to seize those opportunities, according to an annual report from a local business organization.

The 2006 “Index of Silicon Valley,” produced by Joint Venture: Silicon Valley Network, portrays a region that seems to have stabilized after several troubled years following the dot-com bust. And on an optimistic note, the report argues that the region has reaffirmed its global competitiveness by evolving into an “idea economy” that continues to produce high-paying jobs involving creativity and innovation.

But at the same time, the region appears to be failing to help local residents make the transition to those skilled jobs, which require more education and retraining. Improvements in those areas are considered critical to maintaining the region’s competitiveness.

By Chris O’Brien
Mercury News

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