More than half of Silicon Valley residents want to leave: ‘The mood is darkening’

1 month ago 19

More than fractional of each residents successful the Big Tech hub of Silicon Valley are readying to ditch the portion owed to spiraling costs and quality-of-life issues, according to the results of a canvass released this week.

A whopping 64% of residents successful Silicon Valley, location to firm heavyweights specified arsenic Google, Meta and Apple, accidental they are acrophobic the portion is connected the incorrect track, according to the 2022 Silicon Valley poll conducted by Joint Venture and the Silicon Valley Institute for Regional Studies.

Meanwhile, 56% of respondents said they were apt to determination retired of the Bay Area “in the adjacent fewer years.” The fig is adjacent higher for working-age residents, with 59% of adults aged 18 to 64 indicating they were apt to question greener pastures.

Among individuals who program to leave, 67% cited lodging costs, portion 47% pointed to a falling prime of beingness and 43% were sick of the area’s precocious taxes.

“There’s a temper retired determination – the temper is gloomy. The temper is darkening,” Russell Hancock, the CEO of Joint Venture and president of the Silicon Valley Institute for Regional Studies, said during a briefing connected the poll’s findings.

Silicon ValleySilicon Valley is location to galore Big Tech firms.Getty Images

“The folks that are moving successful Silicon Valley deliberation that contempt their work, the wide portion is losing ground,” Hancock added.

The canvass results surfaced during a play successful which respective salient businesses, including immoderate based successful the Bay Area, person opted to permission California for different states. Firms that person relocated see Tesla, Oracle, Hewlett Packard and Charles Schwab.

Silicon ValleySilicon Valley residents decried the precocious costs of lodging and living.Getty Images

Silicon Valley’s precocious outgo of lodging was a apical interest for residents, with 76% of respondents identifying steep rent and location costs arsenic an “extremely superior problem.”

Other “extremely superior problems” flagged by locals included outgo of living, with 72% of respondents utilizing that description, homelessness astatine 71% and the region’s propensity for droughts astatine 58%.

Silicon Valley56% of nonmigratory accidental they program to permission the area.AFP/Getty Images

Taking into relationship each factors, 36% of Silicon Valley dwellers who responded to the canvass said the Bay Area’s prime of beingness has gotten worse implicit the past 5 years.

The results skewed based connected governmental leanings, with 62% of Republicans saying the prime of beingness has gotten “much worse,” compared to conscionable 23% of Democrats.

Joint Venture and its partners calculated results from an online survey of 1,736 residents successful 5 Bay Area counties. The canvass was conducted from Sept. 9 done Sept. 20.