Austin led the nation’s cities in 2013 with a gross metro product growth – the sum of all goods and services produced annually – of 4.6 percent, according to a report recently released by the U.S. Conference of Mayors.
The city is expected to hold its top spot though 2020, with an average annual gross metro product growth of 4.4 percent.
The report relayed optimism about the improving U.S. economy and stressed that metro areas would be the quickest recover and improve as economy emerged from the effects of the recession. …Read Entire Post
The latest employment data released by the Texas Workforce Commission shows that job growth continues in the Lone Star State.
Texas’ unemployment rate was 4.7 percent in April 2014, down from 5.3 percent in March and from 6.0 percent in April 2013.
From April 2013 to April 2014, the Austin-Round Rock-San Marcos ranked third in the state with 29,900 jobs created which marked a 3.5% annual growth rate. …Read Entire Post
Texas maintained its position at the top of Chief Executive magazine’s list of Best and Worst States for Business. Recognized this year for its growing population, low unemployment, low taxes and booming 4.8 GDP growth rate, the Lone Star State has held the number one spot for ten straight years. …Read Entire Post
Austin’s accolades keep piling up. After the city ranked at or near the top of most economic polls and surveys in 2013, the Texas capital has started 2014 right where it left off, ranking No. 1 on Forbes’ list of the country’s fastest-growing cities for the fourth year in a row.
Forbes noted that Austin had a 2.5 percent estimated population growth in 2013 — the highest of all geographic regions in the country. …Read Entire Post
The first five weeks of 2014 have already seen at least 15 companies announce their intentions to hire more than 1,600 employees in the Austin region, according to data by the Greater Austin Chamber of Commerce.
Current figures far exceed the Chamber’s tracked announcements in past years. In January and February of last year, for example, 19 companies announced plans to hire 562 employees, while in the first two months of 2012, 16 companies announced plans to hire 760. …Read Entire Post
More good news on the economic front – Forbes.com recently named Austin No. 1 on its list of American metro areas with the most economic momentum heading into 2014.
The Forbes’ ranking pointed to Austin’s double-digit growth in GDP, jobs, population and birthrate since 2007. In addition, the Texas capital has a very strong hipster reputation, attracting many of the same people who might otherwise end up in Silicon Valley or San Francisco, but it also boasts the low taxes, light regulation and reasonable housing prices that keep migrants there well past their 30’s. …Read Entire Post
Once again, Austin has topped Milken Institute’s list of Best-Performing metros in the nation. Lauded as an important technology center, the Austin MSA boasts the 13th-highest concentration of technology output in the country.
The city continues to project a hip image that makes it easy to recruit workers from out of state and draw skilled young professionals. …Read Entire Post
Austin continues to top the economic rankings. Most recently, the city’s reputation as a job-creation machine once again propelled Austin to the top of a monthly report by The Business Journals’ On Numbers. With an overall score of 83.9 out of 100 based on 18 economic factors, Austin tops the list of 102 cities measured.
On Numbers reports that Austin, at just under 11 percent, is the only city in the nation with double-digit percentage job growth for the five-year period between October 2008 and October 2013. Job growth is the biggest reason why Austin remains No. 1. …Read Entire Post
Austin has one of the most international economies among the nation’s cities, according to a study recently released by Brookings. Showing its growing global reach, the Austin-Round Rock-San Marcos area’s economy had the ninth highest percentage of international trade among cities nationwide, at 22.3 percent.
The Houston-Sugar Land-Baytown area was the only other Texas region to make the list at 23.9 percent, ranking No. 5. …Read Entire Post
The Austin-area economy grew at one of the fastest rates in the country last year and, barring an unlikely economic meltdown, should soar past the $100 billion mark for the first time during 2013.
Fueled in part by higher exports and the area’s ongoing job creation and population growth, the local gross domestic product rose to $98.7 billion in 2012, according to preliminary data recently released by the U.S. Bureau of Economic Analysis.
That total, which was not adjusted for inflation, gave Austin the 32nd-largest metro-area economy in the country last year, the bureau said.
If Austin sustains its growth trajectory of the past three years, the local economy would surpass the $100 billion mark this year — and do so with a few billion dollars to spare. …Read Entire Post