Austin has a thriving economy, and with Google planning to invest $50 million in expanding its campus, Tesla breaking ground on its electric vehicle factory, and Apple’s $1 billion campus nearing completion in the verdant North hills, it’s only poised to grow.
Other tech developments include:
- $180 billion software company Oracle Corporation relocated its headquarters to Austin.
- Samsung recently told Texas officials that it wants to create 1,800 jobs with a $17 billion factory in Austin.
But regardless of whether you’re looking to make the next
tech breakthrough or just make an honest living, as a bustling metropolitan hub, Austin is bound to have a place for you and your industry.
Leading Industries in Austin
- IT and telecommunications
- Business and financial services
- Defense and security
- Food services
- Publishing and information
- Computer manufacturing
- Energy and mining
Leading sectors for employment growth (2018-2020):
- Construction and mining (7.2% total)
- Financial activities (7.1%)
- Information (3.3%)
- Health and education services (10.9%)
All of these figures point to a healthy economy and booming job market. Despite the pandemic-related setback, which has been particularly destructive for small businesses, 2020 brought huge wins for Austin in terms of economic development, setting the city up for a strong recovery. In fact, during normal times, an estimated 47K people move here per year; in 2019, there were an estimated 68K job postings for tech industry positions alone. To sweeten the pot, Austin’s unemployment rate has hovered around 2.6% in recent years, whereas the U.S. average is 3.7%.