Can Latinos in Silicon Valley Prosper?
Not all are thriving in Silicon Valley. Underneath the surface of successful tech companies, the region has transformed to one with skyrocketing housing costs, traffic congestion, and increasing inequity. One population group whose future is tentative and crucial to Silicon Valley’s long-term success is the Latino community. While companies seek to remedy their #diversity deficit, the reality is that out of the Latino workforce in our region only 4% are in tech. Less than half of Latino households are economically self-sufficient. High school graduation rates among Latino students are still significantly below those of non-Latinos in Silicon Valley.
More than any time in our nation’s history more Latinos are attending and graduating from college. The unemployment rate of Latinos is at a historic low and 100% of Latino children in Silicon Valley are covered by some form of health insurance.
The reality of Silicon Valley are Latinos and the 2018 Silicon Valley Latino Report Card takes a hard look inside their quality of life in five categories. The report card provides a reality check for some and for others it confirms the reality they live in. The 2018 Silicon Valley Latino Report Card stands on the shoulders of the original 2011 report card and provides an updated baseline about Latino quality of life in our region. As with the 2011 report, this new study has identified serious challenges that continue to confront Latinos and threaten Silicon Valley’s long-term prosperity. More importantly, it raises the question: How is our region leveraging the enormous economic and personal strength of its Latino community?
Latinos comprise 26% (approximately 686,000) of our region’s population and are projected to rise to just over 1 million by 2050. More importantly, Latinos under the age of 24 make up 41% (approximately 280,000) of the Silicon Valley population. In the next ten to twenty years, this group will be a driving economic force in the valley. With this in mind, the responsibility to ensure that Latinos are able to contribute successfully and participate fully in our region’s society, economy, and leadership is critical to the success of the community in Silicon Valley.
For nearly a decade the Hispanic Foundation of Silicon Valley has focused its financial resources and services on three priorities: Education Excellence, Leadership Development, and Convening and Engaging the Latino community. We serve as a hub for our Silicon Valley leaders and community to convene, gather, and create. Together, we can pool the will-power, resources, and financial support to reverse some of the negative trends identified. With the common interest shared by Silicon Valley residents in wanting the highest quality of life for our families and children, we stand together to make a difference where we live.
To download the 2018 Silicon Valley Latino Report, view our interactive dashboard, and receive the latest news about the next steps we are taking to convene and engage Silicon Valley leaders and our community.