Good Morning sf.citi Members,
I’m writing today to provide you with several updates, including a recap of our Lunch and Learn conversation with Chief Economist Ted Egan, sf.citi’s tech migration campaign, our vision for a 5G proactive campaign to eliminate the digital divide, a brief legislative update, and lastly, scheduling a Members Call to discuss all topics and answer any questions you may have.
Ted Egan Lunch and Learn
Last week, sf.citi hosted a conversation with San Francisco’s Chief Economist, Ted Egan, who provided a high-level overview of the current state of the City’s economy, his forecast for the future, and what it will take for the City to recover fully. While the City’s economic recovery details are still uncertain, Ted communicated that expanded remote work policies and mandates contribute to a slow recovery, with office vacancy as one of the largest concerns. He predicted that while San Francisco will likely take 4-5 years longer to recover than other cities, hiring by tech has bounced back to hiring at pre-pandemic levels—whether or not these jobs will be filled by people physically in San Francisco is yet to be determined. Ted relayed that he thinks that the overall attractiveness and cleanliness of the downtown area, coupled with pre-pandemic levels of transportation, could be what makes returning to the office desirable. Please see Ted’s slide deck attached for additional statistics and information, including a historical overview of the City’s productivity and employment statistics.
Tech Exodus
As I’m sure you’re well aware, sf.citi has been producing programming around the changing face of work and the migration surrounding the tech industry since April 2020. We have hosted several City and tech leaders in leading and growing tech hubs outside of San Francisco, including New York, Miami, Austin, Seattle, and Nashville, and we’ve engaged in fruitful conversations with folks in doing so.
Since leading this effort, we’ve compiled valuable data and insights to share with membership and media outlets. Our sf.citi data tracker is a public resource you have access to, where we showcase the many changes taking place in our city—including job availability, office space updates, and data on resident migration to and from San Francisco. Using the findings and data we’ve diligently collected through our Tech Exodus efforts, sf.citi will be concluding the tech exodus series with a thought leadership piece on the future of San Francisco’s tech industry, how a remote-first environment will affect the City, and how to move forward together as a City.
To bolster this narrative, we are working with OEWD and the Mayor’s office on an external conversation with Mayor Breed and other City leaders to project a unified front on how the City will adapt to this new form of work. We look forward to using the data collected as a starting point to more collaboration between our sector and the City and we are pleased that we have drawn strong attention from both the press and City leaders around this issue. As we have heard from many of you, your offices in San Francisco will be going through significant changes and your goals around what you’d like to see from the City have evolved, as well — particularly in terms of public safety, the state of the streets, and so on. We are excited to hear your feedback on policy goals or advocacy you would like to see on this front.
This transition will begin in April, and we will have more information for you during our members call.
5G Campaign
It goes without being said that 5G expansion and investing in infrastructure is vital to ensuring San Franciscans have access to the fastest and most powerful technology. The COVID-19 pandemic has only exacerbated the ongoing digital divide as schools remain closed and families battle with capacity-related issues as children engage in virtual learning and parents adapt to new remote work policies. After receiving feedback and suggestions from our Policy Advisory Committee, sf.citi will prioritize eliminating the digital divide through 5G advocacy and will work collaboratively with City leaders to ensure 5G expansion comes to fruition. We believe this is a win-win issue that will provide value for our member companies who rely on San Francisco’s innovation. 5G technology enhances opportunities for autonomous vehicles, telehealth, and traffic congestion mitigation—all of which benefit the technology industry and the local economy. We will continue to keep you apprised of our collaborative efforts with the City. In the meantime, please let me know if you have any questions about this effort.
Legislative Update
At this Tuesday’s Board of Supervisors meeting, Supervisor Safai introduced a hearing request for the Office of Economic and Workforce Development, Department of Public health, Department of Building Inspection, City Controller’s Office, and the Small Business Commission to report on the economic impact of office vacancies in the City. This has yet to be assigned to a committee, however, we will provide you with further information as it becomes available.
Potential Upcoming Election
As you are all aware, we are facing a potential special election this Fall due to the recall campaign effort towards Governor Newsom. Though this is not finalized, we are working with the Dept of Elections to understand the potential opportunities and challenges a Fall election could bring via ballot measures. Due to the special election status, the timing, dates, and restrictions around ballot measures differ from a regularly planned election. We will share more details on this during the call.
sf.citi Members Call
We are scheduling a Members Call on Monday, March 22nd at 3:30 PM to discuss what I’ve outlined above in further detail. You will receive a calendar invite for the call shortly.
Thank you for your continued membership.
Jen
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