Well why do you think big companies snatch up that land? It's not because of the great "in-demand" residential areas. Of course, the town I live in was made to house HP and NASA engineers, and it turned into a nice little area. But it wasn't full of cows before that.
It certainly isn't where I would choose to live, but there is alot of development going on in the counties nearby, so it may really be nice someday. However, right now it is a smelly cow town, at least from what I've seen of it. Developement in California only takes a vouple years to really take effect. Look to Salinas for a good example. It stilll has alot of farm land, but they have recently developed alot of the land in the area and the population has more than doubled.