Silicon Valley is struggling to add jobs or draw top talent, according to a report by Joint Venture Silicon Valley. "This particular index is about as gloomy as we've ever seen," said the organization's chief executive, Russell Hancock, citing taxation and a high cost of living as the major deterrents to growth. "Fewer people are moving here, immigrating here. And what's happening is that their home countries and their host economies have become far more attractive places," Hancock said.
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