We’ve written a lot about Google, Apple, and other tech firms and their big plans for downtown San Jose. But there’s more.
When you’re anchored by big tech other companies tend to come along. That’s definitely true here. San Jose is home a broad-based professional class that includes accounting and consulting firms like Ernst & Young, Deloitte, and PWC; architecture firms like our frequent collaborator, Aedis Architects; national law firms including Alston & Bird and Baker McKenzie; media like the Mercury News and PBS affiliate KQED; and government operations like the U.S. Trademark and Patent office, to name just a few.
These companies join local lender Bridge Bank, who just signed the biggest downtown lease deal since the start of the pandemic. Bank of the West is here, too, as are the law firms Hoge Fenton and Hopkins Carley. There are smaller but still important technology companies like Okta, ThreatMetrix, and Xactly.
Collectively, these companies bring thousands of people to the area every day, supporting a dynamic business, entertainment, and cultural ecosystem. This, in turn, helps make it a great place to live and work. And that’s to say nothing about the impact of San Jose State University, a major employer and home to more than 30,000 students, who appreciate a lively downtown.
What this tells us as developers and investors is that we’re not depending on any single employer or industry sector to provide the environment we need to support our projects. The sources of San Jose’s growth are diversified, and diversification is good. And here’s something else: more and more of those people are returning to their offices. An April survey from the Bay Area Council found that more than 80% of employers were bringing workers back, compared to 68% in March and 56% in February.
San Jose continues to build momentum. To find out how you can invest in downtown, contact us today.
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