Newsom sees positive economic future for SF 

Despite San Francisco’s $522 million budget hole and nearly 10 percent unemployment rate, Mayor Gavin Newsom delivered a speech Wednesday that painted a more positive future for The City, one that included thousands of new jobs and a diverse economy.

Newsom joined Oakland Mayor Ron Dellums at the annual “Mayors’ Economic Forecast” breakfast in Oakland, which was sponsored by the San Francisco Business Times. There, both mayors spoke about how their cities were navigating through the recession.

Newsom picked an optimistic tone as he ticked off a list of revitalization projects and transit projects that were coming down the pike, including the Central Subway station, which is expected to generate as many as 43,000 jobs.

“I still maintain an abundance of optimism about San Francisco that I cannot shake,” Newsom said. “When I read the paper there is every reason to feel differently, but in reality … I feel that we have a lot going on and I feel we have a lot to offer and we are on the right track.”

Newsom talked about innovative digital media companies that were planning to locate headquarters in San Francisco.

“One specific area of growth in the economy is online gaming; there is a real high concentration of very creative companies that are moving into The City so we welcome the diversity in the economy,” Newsom said.

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Erin Sherbert

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