What will we be covering going forward?
This project, a partnership between the Bay Area Council Economic Institute and CBRE’s Tech Insights Center, is a three-year, three-part series of interactive reports. The first iteration of this project, covered across the economic index and five topic areas of this website, is meant to track economic recovery in the region and peer metropolitan areas. This analysis is mostly backward looking, and meant to benchmark how the region is performing on key metrics with the most recent data available, compared to how the region was performing pre-pandemic. Part 1 of this research was largely structured around our Economic Recovery Index, which looked at the positioning of the Bay Area against other metro areas, providing a barometer of the Bay Area’s economic performance using the most robust economic data. This index will be updated and revised each year, providing an avenue for consistent tracking of indicators over the three years of the project.
Future iterations of this project will evaluate economic trends within a shorter time series, highlighting shifts and trends in the regional economy that occurred in the last four quarters. Benchmarking to 2019 was valuable to understanding how our region is over or underperforming compared to a once thriving economy, but this was a crisis like no other, and a now three-year-old pandemic has permanently impacted people’s lives and livelihoods, proving that our economy will never look quite the same. To understand what’s happening in real time, future research will include primary research through surveys and business leader interviews, providing insight into work policies and real estate strategies for the region’s largest employers.
Lastly, while the first part of this series was meant to provide a comprehensive overview of where we once were and where we are now, future research will focus on where we are headed by developing policy and program solutions that address and regenerate the dynamic business climate that attracts entrepreneurial and global businesses, visitors, investors, and workforce to the Bay Area. We will also include some economic projections and predictions to understand the implications for downtown economies (San Francisco, San Jose, and Oakland) and outlying areas.