Oakland ranked 8th best city for business (Forbes Magazine)
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| By ronc on Monday, May 13, 2002 - 11:24 am:|
"Oakland has been ranked the nation's 8th best city for business by readers of Forbes magazine"
"San Jose was ranked No. 1 in 2001, but plummeted to the 61st spot this year. San Francisco also fell far down the list, from 3rd to 54th."
| By emkey on Monday, May 13, 2002 - 04:21 pm:|
Not a huge surprise. Of course some people will do their best to obscure/detract from this accomplishment.
Article Last Updated:
Tuesday, May 14, 2002 - 10:17:14 AM MST
The growing downtown Oakland skyline blends historic buildings with several modern structures, such as the Federal Building twin towers (foreground).
Oakland's #8 In U.S.
Forbes says city's good for business
By Cecily Burt
OAKLAND--The rest of the Bay Area may be mired in an economic slump, but Oakland, where fortunes didn't rise and fall with the dot-com boom and bust, remains a strong base for jobs and wage growth, according to the Forbes/Milken Institute annual survey of Best Places for Business and Careers.
Oakland's 8th place ranking among U.S. cities, up from 10th last year, reflects the East Bay city's ``unique resilience and dynamic economy," said Mayor Jerry Brown.
The survey, which will appear later this month in Forbes magazine, ranks 200 large metropolitan areas based on employment and wage data collected over one- and five-year periods, and growth and diversity MDULMDNMin the technology sector. This year the survey also tracked employment in the first quarter of 2002, to see how metropolitan areas dealt with last year's economic downturn and the effects of Sept. 11 terrorist attacks.
Despite those factors, California cities fared well in the annual survey. San Diego ranked first, Santa Rosa second, Ventura fourth, San Luis Obispo seventh, and Orange County 10th.
The dot-com bust was not kind to San Jose _ last year's first place city _ which came in 61st this year, or San Francisco, which dropped from third to 54th place. Both areas enjoyed meteoric growth in the high-tech, dot-com sector, and as a result, felt greater pain when the bottom dropped out of the market last year.
City Manager Robert Bobb said Oakland's improved score is good news from a marketing standpoint, but he said city officials and the community should not rest until the East Bay city is number one.
``I think (we achieved that ranking) because Oakland's economy is not totally dependent on one industry and our overall economy is very diversified," Bobb said. ``But Oakland can never let its guard down. We have to build on our strengths and shore up our weaknesses. We should not take this ranking as the be all and end all."
Oakland also made Newsweek magazine's list of Top 10 technology cities in April 2001.
Bobb said the city will continue to woo the stable tech sector and increase growth and employment in what has shown to be Oakland's strengths, such as transportation, biotech and biosciences.
Now Oakland needs the ballpark with the view of the skyline
| By chris_d on Tuesday, May 14, 2002 - 09:58 am:|
Notice how in today's Chronicle business section, this story on the Forbes ranking is all about how far SF and SJ fell in the rankings. Oakland scoring in the top ten for the second year in a row gets is barely mentioned.
| By eyleenn on Tuesday, May 14, 2002 - 04:06 pm:|
On the other side of the coin, there has been some pretty hard-nosed coverage of the recent murders in Oakland lately. I think it was yesterday's Chron that had an article about the poverty and drug dealing that have caused tremendous crime and murder rates in East and West Oakland.
It's easy to see how politicians can glom onto those kinds of stories to say that Oakland can't afford a new ballpark.