Tech

San Francisco Sees Growth In Internet, Biotech Jobs

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A sign is posted in front of the construction site for the Channel Mission Bay housing development on March 23, 2012 in San Francisco. After years of being dormant, new apartment construction in the city of San Francisco is set to take off as the city's technology sector continues to grow. (Justin Sullivan/Getty Images)

A sign is posted in front of the construction site for the Channel Mission Bay housing development on March 23, 2012 in San Francisco. After years of being dormant, new apartment construction in the city of San Francisco is set to take off as the city’s technology sector continues to grow. (Justin Sullivan/Getty Images)

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SAN FRANCISCO (CBS SF) – While much of the state and the country grapples with joblessness, San Francisco is seeing growth in Internet and biotech jobs, according to new data released by San Francisco County Assessor-Recorder Phil Ting.

Ting’s data suggests that 21st Century jobs are growing in San Francisco neighborhoods such as South of Market, South Beach and Mission Bay. The figures, released recently at the UCSF Mission Bay Campus, also show that the creation of high-wage jobs is contributing to sizable increases in local real estate values, according to Ting’s office.

Ting said the latest figures reveal that home real estate prices are evening out and that many San Francisco property owners are starting to see their home values return in the wake of the Great Recession.

“San Francisco’s real estate market is stabilizing and our economy is improving,” Ting said. “More importantly, our city serves as a model for growing and attracting 21st Century businesses that offer good, high-wage jobs. We can look to San Francisco to set an example when it comes to technology, life sciences, biotech and also a quality of life that attracts the best and brightest workers in the world.”

Data from the San Francisco Center for Economic Development shows that the number of tech jobs in the city has grown by more than a third since the start of 2012 — 13,000 tech jobs have been added this year making a total of 44,000 jobs, according to Ting’s office.

(Copyright 2012 by CBS San Francisco and Bay City News Service. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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