FASTEST-GROWING, MOST FORWARD-LOOKING CITY IN AMERICA
In 2016, for the fifth time in six years, Forbes Magazine ranked Austin as America’s fastest growing city. Forbes also put Austin top of its list of U.S. cities with “the best chance to prosper in the coming decade.”
- ‘Austin will be the fastest growing large U.S. metro economy through 2020’ – U.S. Conference of Mayors
- ‘America’s #1 City for Jobs and Culture’ – U.S. News
- ‘#1 City for Jobs Growth’ – Forbes
- ‘Home to 95 of the nation’s fastest growing companies’ – Inc. Magazine
The Austin area has become a major technology hub, with more than 120,000 employees at over 4,000 technology companies, including Apple, Facebook, Dell, AMD, Samsung, Cisco Systems, Intel, Oracle, National Instruments, GM and Cirrus Logic. They contribute more than $21 billion annually to the regional economy. The region is well diversified, due to its concentration of government, financial and health science companies, its educational institutions (the University of Texas at Austin has 51,000 enrolled students and is ranked among the best universities in the country) and its legendary live music, vibrant nightlife and other tourist attractions.
- ‘World’s New City of Media Arts’ – UNESCO
- ‘A Future City driving growth through the creative economy’ – Economic Intelligence Unit
Employment in creative industries has boomed, combining with the city’s technology base to produce the South by Southwest Festival (SXSW), a conference with worldwide impact celebrating the convergence of the interactive, film, and music industries, growing out of Austin’s unique culture.
Not surprisingly, Austin has become a major destination city for U.S. migration, as can be seen in this post illustrating U.S. domestic migration patterns.