Reasons for Austin’s Bulletproof Economy
There’s no doubt that Austin has quickly risen to the top as one of the most successful economic centers in the U.S. On top of a wide variety of thriving local businesses, national companies like Whole Foods Market, Dell Computers, Freescale Semiconductor, and Forestar Group call Austin their home base. As the city’s economy continues to grow, new nationwide companies have begun to set their sites this thriving city, including the world’s largest social network, Facebook, which opened up an Austin office in spring of 2010.
What makes Austin’s economy seemingly recession-proof? One potential reason is large organizations that provide stable jobs for a large amount of people. For instance, the University of Texas, is one of the nation’s largest universities, and employs thousands of employees, from professors to admission counselors. Plus, the Austin state capitol is the second largest state government, which employs over 65,000 individuals.
A second reason for Austin’s resilient economy is the strong partnership of local businesses that band together. For instance, Austin’s startup community is so strong that the city now supports four “co-working” offices: Austin CoSpace, Link Coworking, Texas Coworking, and Conjunctured. These offices provide a place for start-up businesses to move from their home offices to a community of self-motivated and like-minded individuals, and find access to the resources they need to take their businesses to the next level.
A third reason for the success of Austin’s economy is the vast amount of networking events held each week, including Business Networking International, Charity Bash, & Austin Young Chamber of Commerce. On top of these larger organizations, start-up businesses all over town throw networking events all the time, to introduce their companies to more individuals in the Austin local business scene. In a city with a nightlife scene as vibrant as Austin’s, local businesses take every chance they can to get out of the office and network!
As Austin continues to grow, more and more job opportunities are opening up across the city, making it one of the top relocation destinations for businesses. Plus, with the advent of the “virtual offices”, mobile workers are flocking to Austin to build their new businesses or expand existing ones. If you’re considering moving to Austin for work, a helpful site is Realty Austin, an Austin real estate resource.
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