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Report: Jobs, income and IPOs up in Silicon Valley

MOUNTAIN VIEW — The Silicon Valley is leading the rest of the country out of the recession with increased jobs, income and initial public offerings last year, according to a new regional report.

But the 2013 Silicon Valley Index also finds that Hispanics and African-Americans in the world's high-tech center became increasingly marginalized.

"Our continuing resilience is impressive. Still, the rebound hasn't been a cure-all for everyone," said Russell Hancock, president of Joint Venture Silicon Valley, in releasing the report Tuesday.

Silicon Valley saw a 3.6 percent growth rate between 2011 and 2012, compared to 1.7 percent statewide. The region's quarterly employment rose 4 percent in a year, the sharpest increase in a decade, said the report. Incomes also rose, up 2.2 percent. Hancock said with 92,000 new jobs in a year, the region is "back to what we haven't seen since the dot com."

"It's about to get crazy," he said.

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