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Silicon Valley growth reboots

January 30, 2007|From the Associated Press

Silicon Valley's economy has revved up thanks to plucky Internet and alternative energy start-ups, according to a new report.

Local technology companies created 33,000 jobs last year -- the first increase since 2001, a year after the dot-com downturn.

The region's median household income jumped 6.5% from 2005 to 2006, to $76,300 -- the first uptick since 2001.

It decreased 13% from 2001 to 2004.

Researchers from Joint Venture: Silicon Valley Network, an alliance of business and community institutions, will discuss the report Friday at the annual State of the Valley conference. Former Vice President Al Gore will deliver a keynote speech about green technology.

"We saw the first evidence the downturn was behind us," said Russell Hancock, Joint Venture chief executive. "We've reinvented ourselves."

Researchers define Silicon Valley as a region with 2.4 million people in Santa Clara and San Mateo counties and parts of Alameda and Santa Cruz counties.

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