DATE: February 4, 2004
CONTACT: Melissa Haynes (202-234-9665)
BAY AREA LOSES $104 BILLION IN ECONOMIC OPPORTUNITY
Local governments can play key role in solving problem
OAKLAND, Calif.A new analysis of regional economic activity by Redefining Progress, done in conjunction with the Bay Area Alliance, shows that the Bay Area has lost more than $104 billion in economic opportunity.
The principal losses have occurred in the areas of environmental degradation, jobs and housing imbalance and under-employment. The result is economic activity whose value is 45% lower than the Gross Regional Product, a measure of total economic transactions.
"Hemorrhaging $104 billion from the Bay Area is completely unacceptable," said Oakland Mayor, Jerry Brown. Randy Hayes, the city's Sustainability Director will announce a new program that will aim to produce 100% of the Oakland's electricity renewably in less than 25 years.
A briefing on these new results will be held at the conclusion of the Bay Area Alliance for Sustainable Communities', quarterly meeting:
WHEN: Friday, February 6, 2004, 11:00am
WHERE: Sierra Club Conference Room, 85 Second Street, San Francisco
- Andrew Michael, Vice President, Bay Area Council
- Michel Gelobter, Executive Director Redefining Progress
- Juliet Ellis, Executive Director, Urban Habitat
- Randy Hayes, Director of Sustainability, Office of the Mayor, City of Oakland
- Jared Blumenfeld, Director, Commission on the Environment, City and County of San Francisco
-- 30 --