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Economic Development Mission: To achieve long-term sustainable and focused economic growth by building a diverse economy with high-wage, high-impact jobs to provide opportunity and prosperity for the region’s residents, businesses, entrepreneurs, and communities through strong cohesive regional collaboration.

Contact: Dave Porter, Senior Vice President, 512.322.5650.

Vice Chair, Economic Development
Gary Farmer
President
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Opportunity Austin

Economic Development is the Chamber’s major task. In 2003, the Chamber undertook a new initiative designed to create jobs, diversify the economy, attract new businesses to the Greater Austin area and retain and grow existing businesses.

The effort, called Opportunity Austin, got underway with an Economic Development Analysis conducted by Market Street Services of Atlanta that provides a roadmap for Chamber activities.

The study includes an evaluation of the region’s economic structure, strengths and core industries as well as an analysis of the region’s competitiveness in the global economy. It provides the foundation for an aggressive five-year, five-county plan to create 72,000 jobs and positive economic impact of $14 billion.

The Chamber’s Economic Development Division is implementing this strategy, overseen by The Greater Austin Economic Development Board and working with regional partners.

The Economic Development Division is concerned with recruiting key industry prospects, retaining existing employers, keeping our excellent business climate, encouraging international trade and investment and promoting Austin as a great location for business. To support these efforts, in 2005 the Chamber created and launched the economic development website.
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2009 Priority Issues

Business Attraction

  • Create 80 new prospect leads.
  • Reach out to 500 new companies in targeted industry sectors.
  • Take 120 out of region marketing trips across the country.
  • Host 40 prospective companies and tour Central Texas.
  • Announce 15 new company relocations.
  • Increase created jobs to 21,981.
  • Increase payroll by approximately $2.1B.
  • Conduct 360 regional retention visits.

Business Retention

  • Conduct 360 regional retention visits.
  • Four headquarter trips
  • Two major out of region marketing events for entrepreneurial start-ups
  • Hold Two Executive Roundtables
  • BioAustin staffi ng and coordination
  • ABIA Task Force
  • BR&E Newsletters – print electronic
  • Facilitate individual company assistance requests
  • Continue BR&E collaboration among regional partners
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