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San Jose economy best in California, Sacramento the worst

San Jose economy best in California, Sacramento the worst

San Jose boasted the best economy during the past three years, largely because of the booming tech industry and fast-paced hiring by companies such as Apple Corp., Google Inc. and Facebook Inc.

Silicon Valley’s economy grew 18% from 2008 to 2011, easily the largest in the state and 50% better than second-place Oxnard, according to the U.S. Bureau of Economic Analysis. Silicon Valley’s GDP climbed to $177 billion in 2011, the most recent figures available.

San Jose had the best economic growth during the past three years, easily beating the national average.

San Jose had the best economic growth during the past three years, easily beating the national average.

Ten cities in California beat the average national economic growth of 5.0% during the three-year period. Only San Jose, Oxnard and Madera (11.6%) had more than double the national average, according to the annual report.

Sacramento – a region dominated by government employment – had the smallest economic growth during the three-year period. Stockton, El Centro, Santa Rosa and Vallejo were also among the five worst cities in the state.

The federal report did not include metropolitan regions with flat or a decline in GDP, including Los Angeles-Riverside, Redding and Santa Cruz.

Beaumont, Texas, had the highest growth rate at 34% in the three years, while Casper, Wyo., endured the largest decline at 14%.