Local

Jobs, Income, IPOs Up In Silicon Valley; Not For Blacks, Hispanics

View Comments
An aerial view shows the Silicon Valley location of Intel in Santa Clara. (David McNew/Getty Images)

An aerial view shows the Silicon Valley location of Intel in Santa Clara. (David McNew/Getty Images)

MOUNTAIN VIEW (CBS/AP) — A new report says Silicon Valley bounced out of the recession last year, adding jobs, income and initial public offerings.

But the 2013 Silicon Valley Index also finds that Hispanics and African Americans in the world’s high-tech center became increasingly marginalized.

The report by the group, Joint Venture Silicon Valley, was released on Tuesday.

Joint Venture President Russell Hancock says while Silicon Valley’s resilience is impressive, the rebound hasn’t been a cure-all for everyone.

African Americans’ per capita income fell 18 percent in 2012, while Hispanics’ incomes dropped 5 percent.

Overall, incomes in Silicon Valley rose 2.2 percent last year.

The region experienced a 3.6 percent growth rate, compared to 1.7 percent statewide.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 55,779 other followers