SAN FRANCISCO—In an exclusive interview with Transwestern's new executive managing director Rob Bagguley, the cost of doing business has and will drive companies to look at alternative solutions. This will happen not only outside of San Francisco to the surrounding counties, he says, but also competing states such as Arizona and Texas. Among other things, GlobeSt.com chatted about other regional challenges, like affordable housing solutions and economic drivers in the region.
GlobeSt.com: What are the economic drivers in the region?
Rob Bagguley: Technology—both maturing and social networking—and biotechnology. This is truly the center of the universe for venture capital investment into innovation.
GlobeSt.com: What would you say are some of the larger regional challenges?
Bagguley: As more and more companies locate in downtown San Francisco, there are fewer affordable housing solutions for those employees. This continues to drive wage demands and results in corresponding labor shortage issues due to those employees questioning affordability and quality of life from diminishing infrastructure and traffic issues.
Secondly, the cost of doing business has and will drive companies to look at alternative solutions, not only outside of San Francisco to the surrounding counties, but also competing states such as Arizona and Texas.
GlobeSt.com: What is the solution?
Bagguley: This will need coordinated intervention and solutions from local and state government. Despite all of this, companies are still going to want to be in this area of innovation, higher education and global market recognition.
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