Monday, April 23, 2007

Growth Mode Again in Silicon Valley

It's been 6 years in the making but Silicon Valley has rebounded and is firmly in growth mode again. As it did in the last cycle, this economic prosperity will work it's way through the rest of northern California and the central valley........

In growth mode, Cisco to lease Milpitas campus

"Following in the footsteps of several valley high-tech leaders, Cisco Systems is acquiring more space to house its growing workforce......

...."It's fair to say we've been hiring since 2004," said Blum, who said part of the growth is due to the company's acquisitions.

In January, Cisco reported that it employs almost 55,000 people worldwide, 15,000 of whom work in the valley. The total represents a net increase of 2,700 from the previous quarter......

.....Cisco's new lease is another sign of the valley's economic resurgence, already illustrated by land and building acquisitions by Apple, Google and Yahoo. Last April, Apple announced plans to buy 50 acres in Cupertino for more than $160 million and just acquired another site earlier this month. In June, Google bought $319 million worth of real estate in Mountain View's Shoreline Technology Park.

And in July, Yahoo worked under the radar to buy 46 acres in Santa Clara for about $50 million....."

Link Here

By Katherine Conrad
Mercury News

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