Austin, Texas, United States

Economy

🇺🇸 Austin is the capital city of the U.S. state of Texas, as well as the seat and largest city of Travis County, with portions extending into Hays and Williamson counties. Incorporated in 1839, it has been one of the fastest growing large cities in the United States since 2010. Austin is the southernmost state capital in the contiguous United States.

The city is the cultural and economic centre of the Austin–Round Rock metropolitan statistical area. Located in Central Texas within the greater Texas Hill Country, it is home to numerous lakes, rivers, and waterways, including Lady Bird Lake and Lake Travis on the Colorado River, Barton Springs, McKinney Falls, and Lake Walter E. Long.

Residents of Austin are known as Austinites. They include a diverse mix of government employees, college students, musicians, high-tech workers, digital marketers, and blue-collar workers. The city's official slogan promotes Austin as "The Live Music Capital of the World", a reference to the city's many musicians and live music venues, as well as the long-running PBS TV concert series Austin City Limits. The city also adopted "Silicon Hills" as a nickname in the 1990s due to a rapid influx of technology and development companies. In recent years, some Austinites have adopted the unofficial slogan "Keep Austin Weird", which refers to the desire to protect small, unique, and local businesses from being overrun by large corporations. Since the late 19th century, Austin has also been known as the "City of the Violet Crown", because of the colorful glow of light across the hills just after sunset.

In 1987, Austin originated and remains the site for South by Southwest (stylized as SXSW and colloquially referred to as South By), an annual conglomeration of parallel film, interactive media, and music festivals and conferences that take place in mid-March.

Emerging from a strong economic focus on government and education, since the 1990s, Austin has become a centre for technology and business. The technology roots in Austin can be traced back to the 1960s when Tracor (now BAE Systems), a major defense electronics contractor, began operation in the city in 1962. IBM followed in 1967, opening a facility to produce its Selectric typewriters. Texas Instruments setup in Austin two years later, Motorola (now NXP Semiconductors) started semiconductor chip manufacturing in 1974. BAE Systems, IBM, and NXP Semiconductors still have campuses and manufacturing operations in Austin as of 2022. A number of Fortune 500 companies have headquarters or regional offices in Austin, including 3M, Advanced Micro Devices (AMD), Amazon, Apple, Facebook (Meta), Google, IBM, Intel, NXP Semiconductors, Oracle, Tesla, Texas Instruments, and Whole Foods Market. Dell's worldwide headquarters is located in the nearby suburb of Round Rock. With regard to education, Austin is the home of the University of Texas at Austin, which is one of the largest universities in the U.S., with over 50,000 students. In 2021, Austin became home to the Austin FC, the first (and currently only) major professional sports league in the city.

Economy The Greater Austin metropolitan statistical area had a gross domestic product (GDP) of $86 billion in 2010. Austin is considered to be a major centre for high tech. Thousands of graduates each year from the engineering and computer science programs at the University of Texas at Austin provide a steady source of employees that help to fuel Austin's technology and defense industry sectors. The region's rapid growth has led Forbes to rank the Austin metropolitan area number one among all big cities for jobs for 2012 in their annual survey and WSJ Marketwatch to rank the area number one for growing businesses. By 2013, Austin was ranked No. 14 on Forbes' list of the Best Places for Business and Careers (directly below Dallas, No. 13 on the list). As a result of the high concentration of high-tech companies in the region, Austin was strongly affected by the dot-com boom in the late 1990s and subsequent bust. Austin's largest employers include the Austin Independent School District, the City of Austin, Dell, the U.S. Federal Government, NXP Semiconductors, IBM, St. David's Healthcare Partnership, Seton Family of Hospitals, the State of Texas, the Texas State University, and the University of Texas at Austin.

Other high-tech companies with operations in Austin include 3M, Apple, Amazon, AMD, Apartment Ratings, Applied Materials, Arm Holdings, Bigcommerce, BioWare, Blizzard Entertainment, Buffalo Technology, Cirrus Logic, Cisco Systems, Dropbox, eBay, Electronic Arts, Flextronics, Facebook, Google, Hewlett-Packard, Hoover's, HomeAway, HostGator, Intel Corporation, National Instruments, Nintendo, Nvidia, Oracle, PayPal, Polycom, Qualcomm, Rackspace, RetailMeNot, Rooster Teeth, Samsung Group, Silicon Labs, Spansion, Tesla, United Devices, VMware, Xerox, and Zoho Corporation. In 2010, Facebook accepted a grant to build a downtown office that could bring as many as 200 jobs to the city. The proliferation of technology companies has led to the region's nickname, "Silicon Hills", and spurred development that greatly expanded the city.

Austin is also emerging as a hub for pharmaceutical and biotechnology companies; the city is home to about 85 of them. In 2004, the city was ranked by the Milken Institute as the #12 biotech and life science centre in the United States and in 2018, CBRE Group ranked Austin as #3 emerging life sciences cluster. Companies such as Hospira, Pharmaceutical Product Development, and ArthroCare Corporation are located there.

Whole Foods Market, an international grocery store chain specialising in fresh and packaged food products, was founded and is headquartered in Austin.

Other companies based in Austin include NXP Semiconductors, GoodPop, Temple-Inland, Sweet Leaf Tea Company, Keller Williams Realty, National Western Life, GSD&M, Dimensional Fund Advisors, Golfsmith, Forestar Group, EZCorp, Outdoor Voices, Tito's Vodka, Indeed, Speak Social, and YETI.

In 2018, Austin metro-area companies saw a total of $1.33 billion invested. Austin's VC numbers were so strong in 2018 that they accounted for more than 60 percent of Texas' total investments.

Austin, Texas, United States 
<b>Austin, Texas, United States</b>
Image: Adobe Stock Felix Mizioznikov #218780112

Austin is rated Beta − by the Globalization and World Cities Research Network (GaWC) which evaluates and ranks the relationships between world cities in the context of globalisation. Beta level cities are cities that link moderate economic regions to the world economy.

Austin is ranked #49 by the Global Urban Competitiveness Report (GUCR) which evaluates and ranks world cities in the context of economic competitiveness. Austin was ranked #30 by the Nomad List which evaluates and ranks remote work hubs by cost, internet, fun and safety. Austin has a population of over 978,908 people. Austin also forms part of the Greater Austin metropolitan area which has a population of over 2,227,083 people. Austin is the #55 hipster city in the world, with a hipster score of 5.3879 according to the Hipster Index which evaluates and ranks the major cities of the world according to the number of vegan eateries, coffee shops, tattoo studios, vintage boutiques, and record stores. Austin is ranked #18 for startups with a score of 18.598.

To set up a UBI Lab for Austin see: https://www.ubilabnetwork.org Twitter: https://twitter.com/UBILabNetwork

Austin is a member of the UNESCO Creative Cities Network for Media Arts see: https://en.unesco.org/creative-cities

Twin Towns, Sister Cities Austin has links with:

🇦🇺 Adelaide, Australia 🇫🇷 Angers, France 🇹🇷 Antalya, Turkey 🇧🇷 Belo Horizonte, Brazil 🇪🇸 Elche, Spain 🇦🇺 Grange, Australia 🇰🇷 Gwangmyeong, South Korea 🏴󠁧󠁢󠁥󠁮󠁧󠁿 Hackney, England 🇩🇪 Koblenz, Germany 🇵🇪 Lima, Perú 🇧🇷 Manaus, Brazil 🇱🇸 Maseru, Lesotho 🇯🇵 ÅŒita, Japan 🇳🇬 Orlu, Nigeria 🇮🇳 Pimpri-Chinchwad, India 🇮🇳 Pune, India 🇲🇽 Saltillo, Mexico 🇰🇭 Siem Reap, Cambodia 🇹🇼 Taichung, Taiwan 🇲🇽 Tehuacán, Mexico 🇫🇷 Villefranche-sur-Mer, France
Text Atribution: Wikipedia Text under CC-BY-SA license | GaWC | GUCR | Hipster Index | Nomad | StartupBlink

Antipodal to Austin is: 82.26,-30.275

Locations Near: Austin -97.7405,30.2746

🇺🇸 Pflugerville -97.633,30.45 d: 22  

🇺🇸 Cedar Park -97.817,30.5 d: 26.1  

🇺🇸 Round Rock -97.678,30.513 d: 27.2  

🇺🇸 Leander -97.853,30.579 d: 35.5  

🇺🇸 Georgetown -97.667,30.65 d: 42.3  

🇺🇸 San Marcos -97.945,29.877 d: 48.4  

🇺🇸 Bastrop -97.3,30.1 d: 46.6  

🇺🇸 Marble Falls -98.283,30.567 d: 61.4  

🇺🇸 New Braunfels -98.111,29.694 d: 73.7  

🇺🇸 Seguin -97.95,29.567 d: 81.3  

Antipodal to: Austin 82.26,-30.275

🇲🇺 Port Mathurin 63.417,-19.683 d: 17785.5  

🇲🇺 Mahébourg 57.7,-20.407 d: 17322  

🇲🇺 Centre de Flacq 57.718,-20.2 d: 17312.4  

🇲🇺 Rivière du Rempart 57.633,-20.05 d: 17296.5  

🇲🇺 Goodlands 57.633,-20.033 d: 17295.6  

🇲🇺 Curepipe 57.517,-20.317 d: 17300.4  

🇲🇺 Vacoas-Phoenix 57.493,-20.3 d: 17297.3  

🇲🇺 St Pierre 57.517,-20.217 d: 17295  

🇲🇺 Quatre Bornes 57.479,-20.266 d: 17294.2  

🇲🇺 Moka 57.496,-20.219 d: 17293.2  

Bing Map

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