Industry Spotlight: Austin, Texas
Austin, Texas, is well-known for its quick-growing economy and young workforce. At the heart of this city is a buzzing nightlife, a perennially strong jobs report and a seemingly never-ending flow of new opportunities.
According to Forbes, Austin ranks No. 2 in the nation in terms of job growth, No. 17 for education and No. 21 in best places for businesses and careers. Looking to revitalize your professional life? Be sure to bring a passion for nature and adventure!
Keep Austin Wired: Technology
The city has a strong blend of startups and household names to brag about when it comes to the technology industry. According to Built in Austin, of the top 100 area tech companies, 9 in 10 of them have been in Austin for at least five years, and 30% have been around for more than 15 years.
IBM, Dell and Oracle all employ more than 23,000 people combined, Built in Austin reported. These heavy hitters in software and hardware have paved the way for startups to enter the space as well. "The Austin Metro Area received $966M in Venture Capital Funding, making it a Top 10 Market in the United States," says Cody Cox, Division Director of Beacon Hill Technologies in Austin. "Not only does this show continued investment in the area, but with Tech Exits at almost $4B, the maturity of past investments is beginning to pay off."
"A recent Wall Street Journal study of best Tech Cities, which measured characteristics such as business environment, quality of life and property prices, ranked Austin as the best in the world, beating out San Francisco, New York, London and Hong Kong."
Much of Austin's rebirth has been squarely on the back of its tech industry. There are a number of lucrative opportunities with both young, fledgling businesses and Fortune 500 companies alike.
The Heart of Dixie: Health care
Much of Austin's incredibly low 2.9 percent unemployment rate stems from its 4 percent job growth rate in the education and health services, according to the Bureau of Labor Statistics. Overall, around 116,000 of the 1.1 million people employed in the area find work in the health care industry.
This sector of employment is growing rapidly in Austin because of the blurred lines between technology and health care. Every passing day a business is finding another new way to incorporate the two, which is creating a vast amount of new opportunities. According to Austin Relocation Guide, Seton Family of Hospitals and St. David's Healthcare Partnership are the sixth and seventh largest companies in the area.
A New Sheriff's in Town: Government
Texas has a ton of open space, and Austin is no different. With so many districts and areas to cover, the public sector accounts for three of the top four employers in the area – the Austin Independent School District (#1), the City of Austin (#2), and the U.S. Government (#4), according to Austin Relocation Guide. The BLS pegs its employment base at 176,000, with a job growth rate of 1.2 percent.
Only Greely, Colorado ranks higher than Austin when it comes to job growth, making it one of the best places for professionals looking to revitalize their career. The Live Music Capital of the World has a median household income of around $63,000 and a median home price of $206,000, according to Forbes.
No other place in the United States has as unique and harmonious a mix of technology, both established and startups, health care and ample financial backing between them. Don't forget the invigorated energy sector, where innovations have started changing the face of oil and gas and led to renewed opportunities. Austin has all the materials to be a top jobs supplier for years to come.
This content is brought to you by the Marketing Team at Beacon Hill Staffing Group.