video title: A Glimpses Into Sacramento's Economy
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video source: CAforward
uploaded on YouTube Feb 13, 2012

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duration: 5:01 minutes

Sacramento Economy Slowly Begins to Grow "Video of the Day" review by Alex Cosper on Feb. 14, 2012

Sacramento's economy is slowly pulling out of a deep recession in 2012. This California Forward montage of business leaders gives stats and details on the turnaround. Between 2007 and 2011 the Sacramento region lost 150,000 jobs, according to this video. Much of the economic collapse was due to government downsizing, since government is the biggest employer in the region. Another factor was the fall of the real estate and construction markets. By the end of 2011 unemployment had fallen to 10.9% from the high of 12.5% as job growth finally reversed the slump.

Part of Sacramento's turnaround has been an effort by business leaders and the community to just go for making Sacramento a more culturally developed destination. Private investors have helped expand the Crocker Art Museum with $80 million in funding to make it the 26th biggest museum in America. Businesses are also being developed on the K Street Mall. In 2011 local entrepreneur Mark Otero sold his multi-million dollar video game business KlickNation to Fortune 500 company Electronic Arts. Otero stayed as CEO for the company, which changed its name to Bioware Sacramento. Otero looks for talented young developers from his alma mater, UC Davis, as well as Sac State and University of the Pacific.

California Forward is a think tank that works with SARTA, a local non-profit organization working to create new businesses in the region. It stands for Sacramento Area Regional Technology Alliance. Their CEO, Meg Arnold, is part of a team working on a plan called The Next Economy, which seeks to create new jobs and wealth for the region. SARTA guest speakers offering words of inspiration for entreprenuers at events in recent years have included Apple co-founder Steve Wozniak and 49er legend Steve Young.

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