The Bay Area is an economic powerhouse. If our nine-county region were a separate nation, its economy would rank among the top 25 in the world.
The strength of the Bay Area economy is closely linked to the efficiency of our transportation system and to regional land-use patterns.
Plan Bay Area charts a course for an even more competitive regional economy through investments that will:
- Promote freight movement
- Improve workers' productivity by making freeway travel times more predictable
MTC forecasts the total value of goods produced and services delivered in the Bay Area to more than double over the next 25 years.
During this time the nine Bay Area counties will be home to over 2 million more people, and more than 1 million additional jobs.
MTC and the Association of Bay Area Governments set a goal for Plan Bay Area of increasing gross regional product, or GRP, by 110 percent before 2040 — an annual growth rate of about 2 percent in current dollars.
The adopted plan projects actual growth during these years to come in even higher, with a cumulative 119 percent increase in GRP over the next 25 years.
Compared with other regions, the Bay Area’s labor force has the highest share of college graduates in the country at 44 percent.
“Knowledge sector” jobs in professional services, the information and finance sectors, and health and education are expected to lead the Bay Area’s employment growth through 2040.
Plan Bay Area projects nearly 40 percent of the new jobs in our region over the next 25 years to be added in San Jose, San Francisco and Oakland.
These cities accounted for about one-third of all Bay Area employment in 2010.