Like the rest of the San Francisco Bay Area, Fremont has experienced huge housing growth. In 2000, the average home price in Fremont was nearly 72% higher than the state average. Fremont's convenient location (20 minutes from Oakland and 30 minutes from San Francisco), its moderate climate, and its scenic foothills make an ideal setting for its many smaller communities and diverse ethnic groups.
Fremont's economy reflects the emphasis on technology that the San Francisco Bay Area is known for. Fremont and Oakland share busy shipping ports, including the Port of Oakland, one of the largest and busiest maritime facilities in the world.
The Oakland-Fremont area has experienced some business decline since the Loma Prieta Earthquake in 1989, which left much of the area damaged. Its major employers, however, have maintained their presence in the San Francisco Bay Area, including:
- Cisco
- IBM
- Kaiser Permanente
- Safeway Stores
While many technology firms have held layoffs since 2000, the computer and biotechnology industries still produce many new startups each year.
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