The Bay Area economy

The Bay Area has always been a key port city. San Francisco, Oakland, Alameda, Richmond and many other cities have ports located on the bay. These ports combined with railroad transportation make the Bay Area prime for importing and exporting of goods. For example, Oakland is a major railroad terminal and the fifth largest container shipping port in the United States.

California has an economy that can compare to other countries and the Bay Area is leading California's economy. In 2012, the Bay Area had a GDP (Gross domestic product) of $535 billion which ranks 19th in the world compared to national economies. In addition, the Bay Area had the highest GDP per capita in the United States at about $74,000. The Bay Area has the highest concentration of research laboratories, venture capital firms, and top ten ranked graduate and law schools including UC Berkeley and Stanford.

The economic hub for the Bay Area is the Silicon Valley located in San Jose. The Silicon Valley is home to Google, Facebook, Apple, Yahoo! and many other leaders in technology. Between San Jose, San Francisco, and Oakland, the Bay Area has the second most fortune 500 companies in the United States after New York. Silicon Valley generates most of the Bay Area's GDP.

The Bay Area is known for its agriculture, organic farming, and sustainable energy. It is also home to Napa valley, known famously as wine country. This production of high quality food and wine contribute greatly to the economy.

With all this being said, the Bay Area is known as one of the most expensive regions to live in the country.