"We suddenly live in a truly global world ... the Bay Area Council released a survey in which 36 percent of the region's CEOs said their company now actively participates in the global marketplace, buying or selling goods or services. Among small companies with one to 49 workers, an astonishing 26 percent said they are now 'global.'"
"Our region's companies are rapidly "going global,'' but our laws, policies and infrastructure are not keeping pace... Other regions -- such as Shanghai, London, Sydney, Bangalore and even South Florida -- ... are making big changes to maximize the benefits that their region and their companies accrue from the economic change. Their gain could be the Bay Area's loss as companies either move to, expand in or get their start in regions more friendly to global economic competition."
"To respond, the Bay Area Council -- and the hundreds of employers we represent -- proposes that our region focus on a three-part vision:"
"First, attract the creative class. Innovative, knowledge-based workers choose to live in areas with a high quality of life, which also offer superior educational opportunities -- both for themselves and their children."
"Second, fuel the innovation pipeline. Economically successful regions in the future will be defined by distinctive public and private research facilities, a solid supply of risk capital to finance ideas generated at research facilities, and a deep pool of business management talent to run companies founded on these ideas."
"Third, improve trade capacity. The greater the global connectivity, the greater the benefit in the global economic competition. This includes physical trade through airports and seaports, as well as electronic trades of information over fiber-optic lines and wireless systems."
Also have a look at the Bay Area Council's report, Bay Area 3.0: Global Competitiveness Initiative (hat tip: David Miller).