Text excerpt from log report for Day 3:
There is little doubt that this industry will continue to have an important impact on the Californian economy. Current figures are proof of a renewed economic boom in Silicon Valley. Between 1992 and 1995, the number of jobs in companies producing machines for the manufacturing of semi-conductors rose by 68 %. Some 200,000 new jobs have been created in Silicon Valley since 1992. On average, 11 new firms open every week. The current economic boom is largely based on the high share of venture capital available to start up new companies (cf. log report for Day 5).
Picture: Silicon Valley - high-tech-region in a pleasant surrounding
Picture: Stanford University - one of America's premiere private academic institutions - reflecting California Mission architecture
A new sector which has contributed to the Silicon Valley boom is biotechnology. Additional high-tech sectors showing rapid growth here include multimedia, telecommunications and Internet soft and hardware equipment. Moreover, new ventures in film production have sprung up as a result of the cooperation between the resident companies in Silicon Valley and Hollywood's film industry. Due to this latest development, the number of people employed in the film industry has increased considerably, particularly since 1992. More workers are now employed in this sector than in aircraft construction (Windhorst 1997).