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The Top 12 American Boomtowns

By Bloomberg Rankings and Nikhil Hutheesing - 2013-04-24T14:48:01Z

Photograph by Hisham Ibrahim/Getty Images

Company Symbol % Change
13 of 15

San Jose-Sunnyvale-Santa Clara, California    

2007 Population: 1,803,643
2011 Population: 1,865,450
Percent Change: 3.43
GDP Compound Annual Growth: 4.37%

Here in “tech land” the population continues to rise, hitting 1.9 million in 2012. Unemployment, at 7.6 percent, is close to the national average. During the housing crisis the entire state was hit hard, as home prices fell 34 percent. During the recovery, the San Jose/Sunnyvale area has come back strong. The key to its progress, says Friedhoff, is that unlike in other areas, Silicon Valley’s success does not rely on consumer-driven growth locally. Instead, the tech products made in Silicon Valley find markets all around the world.