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San Francisco at night, California, United States
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San Francisco At Night, California, United States

The legacy of the California Gold Rush turned San Francisco into the principal banking and finance center of the West Coast in the early twentieth century. Montgomery Street in the Financial District became known as the "Wall Street of the West," home to the Federal Reserve Bank of San Francisco, the Wells Fargo corporate headquarters, and the site of the now-defunct Pacific Coast Stock Exchange. Bank of America, a pioneer in making banking services accessible to the middle class, was founded in San Francisco and in the 1960s, built the landmark modern skyscraper at 555 California Street for its corporate headquarters. Many large financial institutions, multinational banks and venture capital firms are based in or have regional headquarters in the city. With over 30 international financial institutions, seven Fortune 500 companies, and a large support infrastructure of professional services—including law, public relations, architecture and design—also with significant presence in the city, San Francisco is designated as one of the ten Beta World Cities. The city ranks eighteenth in the world's list of cities by GDP, ninth in the United States, and is fifteenth place in the top twenty Global Financial Centres Index.
San Francisco's economy has increasingly become tied to that of its Bay Area neighbor San Jose and Silicon Valley to its south, sharing the need for highly educated workers with specialized skills. Due to such links with Silicon Valley, San Francisco became an epicenter of the Dot-Com bubble of the 1990s–2000s, and the subsequent Web 2.0 boom of the late 2000s. Many popular and prominent Dot-Com companies and "start-ups" such as Craigslist.org, Twitter, Salesforce.com, and the Wikimedia Foundation among others have established their head offices in San Francisco.
San Francisco has been positioning itself as a biotechnology and biomedical hub and research center. The Mission Bay neighborhood, site of a second campus of UCSF, fosters a budding industry and serves as headquarters of the California Institute for Regenerative Medicine, the public agency funding stem cell research programs statewide. As of 2009, there were 1,800 full-time biochemists and biophysicists employed in San Francisco, with an annual mean wage of $92,620.
Small businesses with fewer than 10 employees and self-employed firms make up 85% of city establishments as lately, it has been particularly popular with entrepreneurs establishing "start-up" companies. The number of San Franciscans employed by firms of more than 1,000 employees has fallen by half since 1977. The successful penetration of national big box and formula retail chains into the city has been made intentionally difficult by political and civic consensus. In an effort to buoy small privately owned businesses in San Francisco and preserve the unique retail personality of the city, the Small Business Commission supports a publicity campaign to keep a larger share of retail dollars in the local economy, and the Board of Supervisors has used the planning code to limit the neighborhoods in which formula retail establishments can set up shop, an effort affirmed by San Francisco voters.

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Filename:451269.jpg
Album name:World & Travel
Rating (1 votes):55555
Keywords:#san #francisco #night #california #united #states
Filesize:20 KiB
Date added:Jan 26, 2012
Dimensions:700 x 421 pixels
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