San Francisco: It’s home to the iconic Golden Gate Bridge and the historic Alcatraz, Tony Bennett left his heart there, and Rice-a-Roni is the favorite treat.
It’s also a bustling town with a thriving economy. The city has a dozen Fortune 500 companies and over 43,000 businesses--establishing itself as an economic hot spot.
While tourism is the backbone of the economy, the city has its own Financial District that houses the Federal Reserve Bank of San Francisco and two of the country's largest commercial banks.
FOX Business reporter Jenna Lee heads back to her hometown to prove American prosperity is alive and well.
San Francisco By the Numbers
12Fortune 500 Companies call San Francisco Home Including Gap, Charles Schwab and Del Monte
The median price for a Bay Area home dropped 27% from 2007 to $485,000 in June
More than 30%of San Franciscans use public transportation
The median household income is $57,496
More than 95% of businesses in the city have 50 or fewer employees
744,041 people live in the ‘City by the Bay’
Airliners flew in 33,574,807 passengers into the city in 2006
The Port of San Francisco handled $72 billion of trade in 2006
Draping America in Denim
Founded in 1853, by Bavarian immigrant Levi Strauss--Levi Strauss & Co. is privately held by descendants of the family of Strauss.
The company’s products are sold in more than 55,000 retail locations worldwide, including 138 company-owned stores.
As consumers tighten their purse strings, the company is feeling the pinch and reported its net revenues decreased 8% in the second quarter, but posted $1 million in net income.
The retailer employees10,000 people worldwide, including approximately 1,010 at the San Francisco headquarters.
The company has a reputation of strong corporate citiznenship and in1992 became the first major Fortune 500 company to extend full medical benefits to domestic partners of employees.
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
I left San Francisco right after the tech bubble burst - the industries that are surfacing and blooming are "green" businesses. It seems innovators of alternative energy are the new "forty-niners".
2.) What one characteristic in your life now do you credit your hometown for planting in you?
San Francisco is surrounded on water by three sides...as a San Franciscan, I was always reminded of how much bigger the world was then just my small town - and that opportunity is endless.
3.) What do you miss the most?
San Franciscans! The can-do, innovative, risk-taking, creative force of the Americans in the Wild West.
4) Given the chance, would you move back? Why?
San Francisco will always be my home - I believe I carry that wherever I live.
5.) What economic opportunity has your hometown lost?
San Francisco is one of the most expensive places to live and one the most expensive places to do business. I feel this is starting to siphon certain businesses from setting up shop here and this is concerning because entrepreneurs are so much a part of the city's history.
6.) What does your hometown not get enough credit for?
San Francisco is criticized for what it deserves credit for...originality.
