By Joshua Sabatini : sfweekly – excerpt
As San Francisco’s economy continues to flourish, concerns of gentrification in distinct and beloved neighborhoods like the Mission and Tenderloin remain at the forefront of political debates.
For the past six years, San Francisco has experienced a huge boom in jobs and construction and the opening of new businesses. But amid all the economic growth, there remains a charged debate over displacement of long-standing residents that continues to boil over into intense political discourse, even as recently as last week.
Much of the concerns center on building homes for higher income residents, whose spending power is attractive for new higher-end businesses to move in nearby.
A new report released by the Planning Department quantifies the performance of the local economy last year compared to previous years. Job and wage data, for example, illustrates the income disparity in San Francisco between higher wage earners with office jobs, like those in the tech sector and lower-income workers in jobs like retail… (more)