Paul Fassinger
Paul Fassinger
terrific
Biotech is a terrific industry, but it's not like having a big chip-manufacturing industry.
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Everybody's thinking about the dot-com boom of five years ago, but we're not seeing that. Biotech is a terrific industry and it has terrific jobs, but it's not like a chip factory with tons of jobs. It's not as robust as people would like.
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We see 2005 as the year that the Bay Area economy really, finally returned to normal, where you actually started to see job growth in all parts of the Bay Area. We're not really talking about boom times for the bay. We're talking slow to moderate growth, but in the normal range of things.
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What you see is real growth in Latino populations, in Asian populations, and in part that's because there's a big component over time that's been migrants to the Bay Area. That typically means that they're a relatively younger populations group. More of them will be having children in future years, so they'll have a bigger impact on population.
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We're not really talking about boom times by the bay. We're talking slow to moderate growth, but in the normal range of things.