Site Map    Contact Us            Request Information
Home > Do Business > Media Center > Austin in the News
2009
JUN Austin is the 3rd Strongest Metro Economy in the Country.
The Brookings Institution’s inaugural release of MetroMonitor identifies Austin as the 3rd strongest performing metro area. San Antonio and Oklahoma City place 1 st and 2 nd and Houston, Dallas and McAllen follow Austin on the list. MetroMonitor is a quarterly, interactive barometer of the health of America’s 100 largest metropolitan economies. MetroMonitor examines a series of metropolitan-level indicators regarding changes in employment, wages, output, and housing conditions. It aims to enhance understanding of the particular places and industries that drive national economic trends. “All metropolitan areas are feeling the effects of this recession, but the distress is not shared equally,” stated Alan Berube, research director of the Metropolitan Policy Program at Brookings and co-author of the report. “While some areas of the country have experienced only a shallow downturn, and may be emerging from the recession already, people living in metro areas that are now performing weakest economically should prepare themselves for a long recovery period.”
(Brookings Institution, 6/16/09)
JUN Austin ranked Best City for Recession Recovery.
Forbes named the Austin metro as the best poised for recovery in its list of the 10 U.S. cities poised for a rebound (and the 10 cities with a long slog ahead). Many Texas cities are poised for swift recovery according to Forbes. Texas’ economy is diverse, with heavy growth coming from education and health care in recent years and did not see the massive real estate bubble that formed in states like California, Nevada and Florida. Forbes’ analysis also shows the importance of a city's economic make-up. Cities with robust technology sectors are poised for stronger recoveries than manufacturing or finance centers. Austin’s diverse economy, home to Dell, the University of Texas and the Texas state government, has kept the economy strong. Forbes examined estimates from data provider Moody's Economy.com of the projected gross domestic product of metropolitan areas across the U.S., as well as unemployment figures from the Bureau of Labor Statistics and home prices, incomes and affordability data from the National Association of Home Builders.
(Forbes, 6/10/09)
JUN Texas Ranked No. 1 for Business.
Texas has been named the country's No. 1 state for business once again, this time by Directorship, a publication that caters to corporate boardroom leaders. Texas nabbed the No. 1 spot due to its ability to attract Fortune 500 companies, its solid economy, affordable cost of living and its pro-business tax climate. The magazine names major corporate relocations and expansions—such as Comerica’s move from Detroit to Dallas, Caterpillar's decision to build a new assembly plant in Seguin, and communications equipment maker Setcom’s decision to pick up stakes and move from its longtime home in Mountainview, California to Austin—among the reasons for Texas' ranking.
(Directorship, 6/1/09)
MAY Austin no. 7 Tech Center.
With a high-tech workforce of more than 54,500, Austin ranks 7 th on bizjournals’ list of the nation's biggest tech cities. Texas' Capital City is home to over 2,660 tech companies, which employ an average of 20 employees each. Austin also has a relatively educated populace—11% of residents have a master's degree or higher. State government and the University of Texas also help make Austin a dynamic tech market.
(bizjournals.com , 5/11/09)
MAY Austin Chosen as one of Top 20 Places to Thrive.
BestBoomerTowns.com has chosen Austin, Texas as one of its top places in the U.S. to thrive in retirement. Factors taken into consideration were quality of life, cost of living, education and workforce development, weather, healthcare and entertainment.
(BestBoomerTowns.com, 5/7/09)
MAY Texas one of Top 7 Tax-free Havens.
Starting a company in one of these business-friendly locations can save proprietors big bucks: these 7 states have no individual income tax, and some have no corporate income tax. Although petroleum refining is one of Texas' primary industries, the state's economy relies on a wide variety of fields, including manufacturing, agriculture and aerospace. Exxon and Citgo are headquartered in Texas, as are Dell, Texas Instruments, Raytheon and Mary Kay. Manufacturers produce clothing, chemical products, food, automobiles, computers and more. Recently, the governor's office identified 6 industries in which Texas wants to promote future growth: advanced technologies and manufacturing, aerospace and defense, biotech and life sciences, IT and computers, oil refining and chemical products, and energy, including new energy sources such as wind. The government is cultivating these sectors by connecting businesses with federal and private grants, providing state funds for research, and increasing job training programs.
(CNNMoney.com, 5/09)
MAY Austin Best Bargain City in the U.S.
To determine which U.S. cities are the best bargains, Forbes looked at the country's 50 largest U.S. metropolitan statistical areas and metropolitan divisions. Austin earned high marks across the board. "They have the triple-whammy of being a university town, a state capital and a technology center," said Al Lee, director of quantitative analysis at PayScale.com, a salary data aggregator based in Seattle. "It makes for a very robust economy and a great place for people to work."
(Forbes, 5/09)
APR Austin is a City of the Future.
fDi Magazine ’s North American Cities of the Future 2009/10 shortlists, which took more than 6 months to research and involved the data collection of nearly 400 North American cities, ranks Austin No. 5. Numbers 1 to 4 are New York, Chicago, Houston and San Francisco. Seven categories were used to determine the winners: economic potential, human resources, cost effectiveness, quality of life, infrastructure, business friendliness and promotion strategy.
(fDi Magazine, April/May ‘09)
APR Texas is Tops in Production of Wind Power.
Year-end numbers for 2008 show Texas leading in wind capacity (with 7,118 MW) and largest wind farms installed (6 of the nation’s top 10).Texas once again installed the largest amount of new capacity in 2008—2,671 MW—moving it into a league of its own. More new wind capacity was added in Texas during the year than in any country except China and the U.S. If Texas were a country, it would rank sixth in the world, behind Germany, the rest of the U.S., Spain, China, and India.
(American Wind Energy Association, 4/13/09)
APR Austin named no. 1 Big City for Jobs.
Of the 10 large cities with the best employment prospects, Austin is the leader. Job growth between 2004 and 2008 was a whopping 14.8%—and even between 2007 and 2008, overall growth remained in the black. Austin also was named the 6 th best city for jobs in the overall ranking. Seven out of the top 10 cities on that list are in Texas, proving that Texas is the place to be for business in 2009. Austin jumped 13 spots up the list this year from last year’s overall ranking of No. 19. Author Joel Kotkin notes “Understanding what makes this attractive, fast-growing city tick can tell us much about what urban growth will look like in the coming decades. Austin's success is not surprising since, in many ways, it starts on third base. Two of its greatest assets result from the luck of the draw; it's both a state capital and home to a major research university.”
(Forbes, 4/12/09; also New Geography, 4/15/09)
APR UT's McCombs ranks 18 th among nation's Best Business Schools.
According to U.S. News & World Report, 82.4% of McCombs' 2008 graduates were employed full-time as of graduation. And for Texas students, McCombs' in-state tuition of $24,200 a year is a relative bargain compared with the $40,000-and-up annual tuition among many of the other top business schools. Other schools in Texas to rank highly were Texas A&M (33rd), Rice University (38th), Southern Methodist University in Dallas (47th) and the University of Texas-Dallas (49th). U.S. News surveyed 426 MBA programs to formulate this year’s ranking of top business schools.
(U.S. News & World Report, 4/12/09)
APR Texas ranks 13 th Happiest State.
The Happiness Index, which looks at household income, debt, employment and foreclosures, is a fresh take on the old and tired Misery Index, made popular in the 1970s and is all about which states are best weathering the current economic storm. Nebraska tops the list, followed by Iowa and Kansas. Texas is ranked No. 13. The Lone Star State avoided extreme high or low rankings in any one category, but achieved better than average ratings in debt and unemployment. Oregon is ranked No. 51 on the Happiness Index, putting it in last place.
(Mainstreet.com, 4/6/09)
MAR Texas is the nation's 2 nd Largest Cyberstate.
The Cyberstates 2009 report—which details national and state trends in high-tech employment, wages, and other key economic factors for all 50 states, the District of Columbia, and Puerto Rico—shows that Texas saw the largest high-tech employment gains in the nation in 2007, a designation usually reserved for California. The addition of 14,700 high-tech jobs brought the industry total to 474,100 in 2007—the most current year for which state data are available. Texas remains the second-largest cyberstate by tech employment, behind California and ahead of New York. Additionally, the high-tech industry in Texas paid out $39.8 billion in payroll in 2007. The Texas average tech industry wage in 2007 was $83,900—84% higher than the state's average private sector wage .
(TechAmerica, 3/31/09)
MAR Austin among top 20 Best Places for Business & Careers.
Forbes ’ ranking looks at the 200 largest metropolitan areas and is based on 11 different criteria including job growth, business and living costs, income growth, migration trends, educational attainment, crime rates, local colleges, and cultural and recreational opportunities in the area. New criteria in this year’s rankings including projected job growth and subprime mortgages as a percentage of total originations helped boost several metros in the rankings, most notably Austin, Texas. Austin ranked eighth this year, up from 47th last year. Austin's projected annual job growth rate of 2.3% is fifth fastest in the country, and its subprime mortgage exposure clocked in at 13th. The city has a fan in the Charles Schwab Corp. "The city of Austin is extremely business-friendly. They have bent over backwards to accommodate us," says Glenn Cooper, head of real estate at Schwab, which expanded its Austin presence in 2007 when it purchased the 401(k) Co. Cooper highlights the political environment, culture and cost of living as draws for Schwab to Austin.
(Forbes, 3/25/09)
MAR Texas voted Best for Business by Chief Executive.
Texas was ranked No. 1 on the magazine’s list, based on surveys done by 543 CEOs, for the fourth straight year. The magazine says states that perform well in the rankings tend to have lower taxes and low rates of unionization.
(Chief Executive, 3/25/09)
MAR Austin & Raleigh are Fastest-Growing Metro Areas.
Raleigh-Cary, N.C., and Austin-Round Rock, Texas, were the nation’s fastest-growing metro areas between 2007 and 2008, according to July 2008, population estimates for the nation’s metropolitan statistical areas and counties released by the U.S. Census Bureau. The Austin metro saw its population climb 3.8% between July 2007 and July 2008, to 1.7 million. Raleigh experienced a 4.3% increase to 1.1 million. These two large metro areas were among 47 of the 50 fastest-growing areas located entirely in the South or West. The Austin metro area was the location of the sixth fastest growing county (with over 10,000 population), Williamson, as well as 10th-ranked Hays County.
(U.S. Bureau of the Census, 3/19/09)
MAR Austin-Bergstrom International among Top Performing Airports.
Airports Council International announced the top performing airports in its Airport Service Quality Survey for 2008. Austin-Bergstrom International Airport (ABIA) ranked 3 rd in North America (the top 2 being Canadian airports). Additionally, ABIA ranked 3 rd for its size (5-15 million passengers) among airports around the globe.
 (Airports Council International , 3/10/09)
FEB Austin named no. 2 Healthiest Housing Market for 2009.
Builder , in conjunction with Hanley Wood Market Intelligence, debuts its metric for determining markets with the best and least potential based on based on population trends and job growth, perennial drivers of housing demand and other key factors. Austin has become the sixth largest home building market in the last year, mainly due to job creation. While other markets lost employment, Austin added 17,400 jobs last year, 2.3% growth rate. It helps that Austin is home to both a major university, The University of Texas, and the state capital. Existing homes cost a little bit more in Austin than other Texas markets, roughly $188,600, but that’s still below the national average. Also, Austin is one of the few metro areas in the country where median prices actually rose in 2008—2.7%. Amazingly, Austin now generates more home building activity than Chicago, which has six times more people.
(Builderonline.com, 2/17/09)
JAN Austin named one of America’s Top 30 Most Wired Cities.
Since 2007, Forbes has measured cities' wired quotient by computing the percentage of Internet users with high-speed connections and the number of companies providing high-speed Internet. Since many urban residents access the Internet by wi-fi, we also measure the number of public wireless Internet hot spots in a particular city. Our formula remains the same as previous years with one exception: the addition of broadband penetration data from Scarborough Research. The change was made to complement similar data from Nielsen Online.
(Forbes.com, 1/22/09)
JAN Austin named one of 15 Coolest North American Cities.
Mountains to majesty: Whether you're looking for world-class museums, breathtaking architecture, lush parks and gardens or vibrant nightlife, take your pick of these cities and enjoy the diversity that each has to offer. Famous for Tex-Mex food and its eclectic music scene, bustling Austin is also the capital of the Lone Star state. Many visitors find its laid-back atmosphere especially appealing.
(MSN Travel, 1/22/09)
JAN Austin named one of America’s 25 Strongest Housing Markets.
Forbes worked with Moody's Economy.com to compile a list of the country's real estate markets that are nearest to recovery. Moody's looked at the country's Census-defined metro areas with populations over 500,000, and prepared forecasts through 2011. They then compared them to prices in the second quarter of 2008, which were the latest figures available, to calculate how far prices will likely fall before reaching bottom. Not one metro area will see prices increase before the end of this year, according to Zandi's forecasts. The strongest metro areas will be flat at best―but that's better than the 15% drop Moody's expects on average in the U.S. Texas markets are in the best shape. Housing values were rising in many Lone Star State towns until oil futures collapsed and agricultural commodity prices fell. But the bottom doesn't look very deep. "Texas has the best large-state economy in the country right now," says Mark Zandi, chief economist for Moody's Economy.com. "Employment is slowing, but it’s still growing."
(Forbes, 1/7/09)
JAN Texas ranks 4th on a new list of Best States to Start a Business.
The Lone Star State won praise for having “the most globe-focused manufacturing sector in the country, with export sales at $69,268 per worker—the highest of any state.” U.S. News also cited Texas’ lack of income or capital-gains taxes for individuals and the state’s low worker compensation costs. The newsmagazine took a comprehensive look at the business climates for entrepreneurs in all 50 states. As the basis for their report, U.S. News used the 2008 New State Economy Index from the Kauffman Foundation and the Information Technology and Innovation Foundation as well as the Small Business Survival Index 2008 from the Small Business and Entrepreneurship Council. Texas’ fourth-place ranking fell behind No. 1 Washington, followed by Virginia and Colorado. Rounding out the top seven were Nevada, Utah and Florida.
(U.S. News & World Report, 1/6/09)