$3.5M in expenses

Civic impactas part of SVLG's civic impact center of expertise, education and workforce staff advanced multiple initiatives in 2024 to expand diverse talent pipelines. Through the SVLG stanford hbcu program, a partnership connecting students from historically black colleges and universities to silicon valley employers, SVLG generated 14 internship and new-grad applications for 40 competitive roles with companies like ibm, cadence, and HNTB. As part of the bay area k-16 collaborative, a regional employer education partnership, we also hosted three worksite visits that connected 70 students and faculty from city college of san francisco, chabot college, and evergreen.

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Technology and innovationthe technology + innovation committee's main efforts involved artificial intelligence (AI) matters. The committee kept member companies abreast of developments at the federal and state level. The leadership groups i-cap initiative regarding AI policy issues was also under the auspices of the committee. The leadership group opposed california legislation that would have burdened member companies with many requirements that would have made it much more difficult to make AI advances. We met with AI bill authors to share member perspectives. We also organized opposition to the california privacy protection commission's aggressive restrictions on AI development that were far outside the commission's jurisdiction over privacy issues.we continued ongoing efforts to support member company interests related to heavy-duty autonomous vehicles.

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Tax policyduring 2024, the leadership group tax committee had monthly meetings during which accounting firms made presentations about current tax law and policy topics. In addition, the leadership group supported several pieces of tax legislation to simplify filings, expand business-focused tax credits, and enhance business competitiveness. The leadership group successfully opposed several bills that would have imposed new taxes or increased costs for business, harming the competitiveness of the innovation economy.the leadership group supported several pieces of tax legislation to simplify filings, expand business-focused tax credits, and enhance business competitiveness in silicon valley.