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
U.S consumer confidence ebbed early this month and retail sales rose just slightly in August despite strong demand for automobiles and other big-ticket items, the latest indications economic growth slowed in the third quarter.
The lack of momentum in the economy was underscored by other data on Friday showing an energy-led increase in wholesale prices last month, but subdued underlying inflation pressures. …Read Entire Post
The final three months of 2013 is looking good for the Austin area in terms of jobs, according to a recent report. The Manpower Employment Outlook Survey pegs the Austin metropolitan area of having the fifth-best hiring pace in the U.S. during the fourth quarter.
Job prospects in Austin appear best in construction, wholesale and retail trade, professional and business services, education and health services, leisure and hospitality and government.
No Texas cities landed on the list of worst metro areas for jobs. …Read Entire Post
Austin leads a list of seven Texas metros that rank among the 10 areas expected to have the fastest job growth through 2015 (we limited our look to the 200 largest metros areas). Austin’s employment is expected to increase 4% annually, according to economic research firm Moody’s Analytics. …Read Entire Post
Economic expansion and job growth will drive recovery as interest rates rise. Recovery in the housing market augers for continued improvement in U.S. commercial real estate over the next two years.
Despite challenges – including gradually rising interest rates and government spending cuts – the outlook for commercial real estate is positive. The U.S. economy is expected to grow by 1.9% in 2013 and accelerate to 2.8% in 2014. This growth will spur the creation of 4.8 million jobs over the next two years. As job growth accelerates, so too will demand for commercial real estate, leading to continued improvement in vacancy rates. …Read Entire Post
Governor Rick Perry recently cited a report released by the Brookings Institution – the latest to highlight the Lone Star State’s strong jobs climate. The report found that Texas leads the nation in job creation with Austin, Houston, Dallas, San Antonio, Dallas and McAllen creating more jobs now than before the recession. According to the report, Austin saw the highest percentage increase in jobs of any city in the nation. …Read Entire Post
Site Selection awards the Governor’s Cup each year to the governor of the state with the highest number of qualified capital investment projects the previous calendar year. Texas is back in a big way with a commanding first-place finish in the 2012.
“This is a confirmation of the men and women of the Texas legislature understanding that if we will continue with the predictability and stability of tax and regulation and legal policy that allows entrepreneurs to keep more of what they earn, then we will become the job creation magnet in America,” Gov. Rick Perry told Site Selection on February 21st. “That is what has happened.” …Read Entire Post
For the third year in a row, Forbes named Austin at the top of its list of Fastest Growing Cities. Acknowledging Austin’s pool of bright talent and pointing to the presence of mega corporations as well as the University of Texas at Austin, Forbes called the Capital City an economic powerhouse.
Click to read America’s Fastest Growing Cities (Forbes, 1-23-13)