With 26,000 patents granted in a decade and recent growth in foreign investment, San Francisco ranks No. 1 overall for economic potential for 2015-16, according to fDi Intelligence, a division of the Financial Times.
In addition to its No. 1 ranking, San Francisco ranked No. 2 on the list of American Cities of the Future. Only New York City surpassed San Francisco.
“San Francisco is truly an economic powerhouse with so much talent within 49 square miles,” said Bob Linscheid, President and CEO of the San Francisco Chamber of Commerce. “Our businesses are transforming the world right before our very eyes.”
The report found that a total of 307 foreign investments were made in the city from 2010 to 2014, rising from 10 projects in 2012 to 33 in 2014. San Francisco was also the source of 432 outward foreign investments.
Dennis Conaghan, Executive Director for the San Francisco Center for Economic Development, a division of the Chamber, said, “It’s an amazing time to be in San Francisco. We really feel that we are at the epicenter of innovation, and that the recognition by fDi that we are a city with economic potential is right on the money. We have the highest concentration of billion dollar startups in the world, and that economic and job-creating potential is good for all San Franciscans.”
The city’s top three companies for global investment were Salesforce, Twitter and Airbnb, the report found.
San Francisco also placed at No. 2 for “Human Capital and Lifestyle” and “Connectivity” and No. 6 for Business Friendliness among Major American Cities.
“The San Francisco Chamber of Commerce attracts, supports and grows business through advocacy, economic development and business development,” Linscheid said. “Reports such as this one from fDi tell us and our 1,500 business partners that we are indeed on the right track by creating jobs and opportunity.”