Economy Tops List of Bay Area's Concerns, Bay Area Council Poll Shows

SAN FRANCISCO--(Business Wire)--
Bay Area residents think the economy is the most important problem
facing the region, with 22 percent identifying it as the region's top
concern in the 2008 Bay Area Council Poll of 601 residents released
today. Last year the economy did not register in the top three
concerns, with only seven percent citing it as such.

In the first of a series of results, the Council Poll found that
transportation was second in the list of concerns with 18 percent, a
15 point drop from last year, perhaps due to rising economic concerns.
Housing remains a top issue for area residents, with 15 percent citing
this as the most important problem facing the Bay Area, up by four
points from last year. The results of the Bay Area Council Poll help
the Bay Area Council develop its annual work plan, plus help guide the
region's policymakers in their decision-making.

"What a difference a year makes," said Jim Wunderman, the
president and CEO of the Bay Area Council. "Last year the economy
didn't register in the top three concerns of area residents - now it's
front and center. The economic downturn has clearly hit home with Bay
Area residents."

The economy is listed as the top concern by residents across the
Bay Area, excluding Alameda, where transportation and crime concerns
took precedence, at 19 percent and 18 percent respectively.
Transportation registered as the second biggest problem in most
counties. An interesting exception was the North Bay where residents
cited housing as their second biggest concern, just one percentage
point behind "the economy."

Quality of Life Still Good, While Economic Concerns Weigh Heavily

Despite the perceived economic downturn, residents still believe
that the overall quality of life in the Bay Area is good, with 71
percent reporting that things are going well on the whole. This
positive outlook differs greatly from their economic point of view.
Whereas last year 53 percent of respondents said the region was in
good economic times, today only 32 percent feel this way, and 60
percent say these are bad economic times. Asked about the next 12
months, a mere 16 percent predict a better economy, 34 percent
anticipate no change, and 45 percent think it will get worse.

Economic Woes Hitting Home

For the first time since the dot-com bust, the majority of bay
area residents feel they are worse off financially then they were one
year ago. Thirty-seven percent report that they are financially worse
off, 29 percent say they are the same and 33 percent cite improvement.
Last year only 24 percent reported being worse off and 42 percent felt
they were better off compared to the year before.

Looking ahead, most Bay Area residents forecast little change to
their current state of affairs. When asked how they think they will
fare financially one year from now, 53 percent predict no change, 30
percent believe they will be better off and only 13 percent think
their financial situation will get worse.

About the Bay Area Poll

A total of 601 residents of the nine-county Bay Area were surveyed
in English and Spanish by Field Research Corporation during the period
of March 4-14, 2008. Survey respondents were selected using a random
probability sampling technique that gives all residents with
telephones (listed or not) an equal chance of being selected for the
survey. The sample was stratified to obtain representative samples in
each of six Bay Area regions: Alameda County, Contra Costa County, San
Francisco County, San Mateo County, Santa Clara County and the North
Bay counties of Marin, Napa, Solano and Sonoma. After the completion
of interviewing, the sample was weighted to conform to actual
population estimates of the nine-county Bay Area. Findings are subject
to a sampling error of plus or minus 4 percentage points at the 95
percent confidence level.

About the Bay Area Council

Founded in 1945, the Bay Area Council (www.bayareacouncil.org)
develops and drives regional public policy initiatives and researches
critical infrastructure issues. Led by CEOs, the Bay Area Council
presents a strong, united voice for hundreds of major employers
throughout the Bay Area region who employ more than 501,000 workers,
or 1 of every six private sector employees in the Bay Area.

Bay Area Council
John Grubb, 415-946-8705
Cell: 415-847-6320
Vice President, Communications
jgrubb@bayareacouncil.org

Copyright Business Wire 2008