Austin Ranks #2 in Best Performing Cities for Job Growth & Employment

How did Austin rank in job growth compared to the other top 50 U.S. Metros? We were Number Two in the nation!

When you compare to jobs lost in the U.S. in 2009 (4,941,700) or TEXAS (201,700), Austin’s performance is amazingly strong. With so many indications of growth returning to different segments of the economy, Austin is well positioned to benefit early on in the recovery.

The Austin Chamber of Commerce’s customary ranking of the best performing large metros, we retain second place behind Virginia Beach.
#2 Austin’s aggregate job losses of 2,300 (-0.3%) as compared to #1 Virginia Beach job losses of 1,600 (-0.2%).
Fort Worth was 8,000 (-0.9%)
San Antonio was 9,000 (-1.1%)
Dallas was 42,100 (-2.0%)
Houston was 92,500 (-3.5%)

Top 10 Best Performing Cities
1) Virginia Beach
2) Austin
3) Washington DC
4) Newark
5) Fort Worth
6) San Antonio
7) Edison
8) Columbus
9) Baltimore
10) Boston

Source: Austin Chamber of Commerce

Austin Area Tops City Performance Index

The Austin-Round Rock area was named the best performing city on the 2009 Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index.

Killeen-Fort Hood-Temple, McAllen-Edinburg-Mission and Houston-Sugar Land-Baytown were second, fourth and fifth, respectively. Also, Houston-Sugar Land-Baytown was named one of the top five largest cities, and Midland was named the No. 1 small metro.

The index ranks U.S. metro areas based on their ability to create and sustain jobs, measuring employment, salary growth and technology output.

“Texas’ strong position in our best performing cities study demonstrates that a favorable business climate, combined with a low-cost/low-tax environment, is highly supportive of job creation,” said Ross DeVol, senior economist at the Milken Institute and lead author of the report. “The state has diversified its economy by fostering several key high-tech clusters, and the passage of Proposition 4, allocating $500 million in funding for research universities, will make Texas an even more formidable competitor in the future.”

Austin a Top Place to Launch a Small Business

With so many Americans in the unemployment line these days, a growing number are looking at entrepreneurship as an option. That's what makes this year's list of the best cities to start a small business from Fortune all the more timely.

The folks at Fortune rank Austin eighth on this year's list, behind cities such as Houston, Raleigh, N.C. and No. 1 Oklahoma City. Austin got kudos for its angel investment groups, business-friendly tax structure and support for business development in sectors like tech.

"The Austin metro area, which has doubled its population growth in the last 20 years, is often used as a test market by national companies because its large minority population reflects the nation's future demographic mix," Fortune said. "With University of Texas college students in residence, the area offers entrepreneurial opportunities for the youth market and skilled workers for local businesses. One-third of the area's payroll is related to technology jobs, contributing to Austin's reputation for having one of the most educated workforces in the nation."

But it isn't all roses for Austin. Fortune cited some complaints from business owners such as transportation issues and lack of flights to desired markets.

Fortune's top 10 cities:

1)Oklahoma City, OK
2)Pittsburgh, Penn.
3)Raleigh, NC
4)Houston
5)Hartford, Conn.
6)Washington D.C.
7)Carlotte, NC
8)Austin
9)New York City
10)Baltimore, MD

Source: Austin Business Journal

Austin Among Best Performing U.S. Metros (Economic Recovery)

Austin and San Antonio will be the first two U.S. cities to recover from the recession, according to a new national forecast from IHS Global Insight.

The forecast from the Lexington, Mass. economic research firm suggests the two Texas cities will bounce back to their pre-recession job levels sometime next year.
Eight other metropolitan areas are predicted to recover by 2011, a group that includes Texas’ two largest markets, Dallas-Fort Worth and Houston, along with Washington, D.C.

IHS Global Insight said most metros will start adding employment next year, but the increases are likely to be tepid. “Solid gains will not return for the majority of the country until 2011,” the report said.

Austin is also named one of the 20 best performing metropolitan areas in the second quarter of 2009, according to a study by the Brookings Institution. The second quarter MetroMonitor report tracked nine metrics in 100 U.S. metro areas, and found Austin was a leader in many of those, from percent change in gross metropolitan product to percent change in housing prices.

Employment in Austin fell 0.5 percent from its pre-recession peak, that was the second-narrowest gap in the nation. The Texas Capital was also one of only three metro areas that surpassed their pre-recession peak output by the second quarter of 2009. Along with the other two cities, McAllen and Washington D.C., Austin was one of those least affected by the downturn.

The report’s authors said the figures reveal some stark differences in economic performance among metro areas. “Signs at the national level that job and income losses are slowing continue to mask the highly variable performance of individual metropolitan economies,” said Alan Berube, co-author of the report. “While several metro areas may have reached a turning point, there are many others that still have not touched bottom, as well as a few that have almost fully recovered.”
Texas had the strongest showing, with six cities among the 20 strongest metro areas: Austin, Dallas, El Paso, Houston, McAllen and San Antonio. Florida dominated the list of the 20 weakest metro areas with eight, including Bradenton, Cape Coral, Lakeland, Miami, Orlando, Palm Bay and Tampa.
For the full report, click here.

Source: Austin Business Journal

Austin 7th Most Generous Big City for Online Giving

The recession doesn't appear to be keeping many Austinites from giving to nonprofits.
According to data from Convio Inc., the Capital City was the 7th most generous big city in the nation based on per capita online giving during the first eight months of this year.

Austin ranked 14th on the list in 2008. The rankings are based on the online donations Convio processed on behalf of thousands of nonprofits between January and August.

The top 10 big cities for online giving are:

1) Alexandria, Va.
2) Cambridge, Mass.
3) Minneapolis
4) Arlington, Va.
5) Seattle
6) St. Louis
7) Austin
8) Bellevue, Wash.
9) Washington D.C.
10) Pittsburgh

Another Central Texas city, Georgetown, ranked third on the list for most generous small cities, or those with a population of under 100,000.
"As the Internet pervades all aspects of our life it continues to become a growth engine for nonprofit fundraising," said Convio CEO Gene Austin.
For the full rankings, click here.

Source: Austin Business Journal

Austin 2nd Healthiest Housing Markets for 2009

#2: Austin, Texas - Healthiest Housing Markets for 2009

(2008 Total Building Permits: 14,250)

Nine years ago, during the tech bust, some builders felt that Austin was too crowded and left. The bloom is back on Austin’s yellow rose now; it moved up the leader board to become the sixth largest home building market last year. Job creation explains the move. While other markets lost employment, Austin added 17,400 jobs last year, 2.3 percent growth rate.

It helps that Austin is home to both a major university, The University of Texas, and the state capital. Existing homes cost a little bit more in Austin than other Texas markets, roughly $188,600, but that’s still below the national average.

Also, Austin is one of the few metro areas in the country where median prices actually rose in 2008--2.7 percent. Amazingly, Austin now generates more home building activity than Chicago, which has six times more people. Busiest Austin builders: D.R. Horton, Lennar, KB Home, Centex Homes, Meritage Homes.

#1 - Houston, TX
#2 - Austin, TX
#3 - Fort Worth, TX
#4 - San Antonio, TX
#5 - Dallas, TX
#6 - Raleigh, NC
#7 - Seattle, WA
#8 - Indianapolis, IN
#9 - Fayetteville, AR
#10 - Washington D.C.
#11 - Nashville, TN
#12 - Denver, CO
#13 - Charlotte, N.C.
#14 - Willmington, N.C.
#15 - Myrtle Beach, S.C.

Courtesy: Hanley Wood Market Intelligence By: Boyce Thompson

Forbes Ranks Austin #8 for Biz & Careers!

Forbes.com ranks Austin the 8th best place for business and careers in its latest list.
Texas' Capital City rose significantly from 47th on last year's list. Austin was behind cities such as No. 1 Raleigh, N.C. and No. 4 Fayetteville, Ark. The list was ranked according to factors such as cost of doing business and projected employment growth.


Forbes.com cited Austin's projected annual job growth rate of 2.3 percent--the fifth fastest in the country, and its relatively low subprime mortgage exposure.
For its reporting on Austin, Forbes.com spoke with the Charles Schwab Corp., which expanded its Austin presence in 2007 when it purchased the 401(k) Co. "The city of Austin is extremely business-friendly. They have bent over backwards to accommodate us," Glenn Cooper, head of real estate at Schwab, told the news site.


The top 10 cities on the list were as follows:
1) Raleigh, N.C.
2) Fort Collins, Colo.
3) Durham, N.C.
4) Fayetteville, Ark.
5) Lincoln, Neb.
6) Asheville, N.C.
7) Des Moines, Iowa
8) Austin, Texas
9) Boise, Idaho
10) Colorado Springs, Colo.

From Austin Business Journal 4/3/09

Austin Tops the Top 10 Lists in 2009

Here are some stats for those of us that already love Austin!

Healthiest Housing Markets for 2009 - BuilderOnline.com
Austin #2

Fastest Growing Cities in the Nation - Austin Biz Journal
Austin #2

Top 10 Best Bang for the Buck Cities - Forbes Magazine

Austin #1

Top 10 Most Recession-proof Cities - Forbes.com

Austin #3

TOP 10 Best Cities to Work & Play - Kiplinger.com

Austin #6

Top 10 Greenest Cities in America - Popsci.com

Austin #10

Top 10 Best Cities to have a Baby - FitPregnacy.com

Austin #9

Top 10 Golf Cities in America - Golf Magazine

Austin #1

Top 10 Best Places to Live in America - CNN/Money Magazine

Round Rock #7

Top 10 Best Cities for Married Couples - Forbes.com

Austin #5

Best Cities for Dating - Sperlings

Austin #1

Most Educated Cities in the US - US Census Bureau

Austin #5 (41.5% have a college degree or higher!)

There are more on the attached link!

It's a good time to live in Austin!

JoAnne

My Core Values:

Continual Education, Targeted Excellence, Balanced Growth & First Class service!

JoAnne McKinney, Broker/Owner, GRI, CRS, ABR
Violet Crown Realty
943 East 51st Street Austin, TX 78751
512.628.0990 wk · 512.628.0992 fax · 801.9001 mb
JoAnne@VioletCrownRealty.com
http://www.VioletCrownRealty.com/

2008 Market in Review - Austin Title

As most parts of the nation experience significant decline in housing starts, sales, and prices, the Central Texas market remains relatively strong in comparison. Although units sold and aggregate volume are down around 20%, prices remain stable and inventory remains low, suggesting that pent-up demand from 3rd and 4th quarters may soon re-enter market as the credit freeze continues to thaw. With just 5.3 months of inventory, Austin actually had less units for sale in November 2008 than in November 2007. As buyers take advantage of historically low interest rates, our local market should continue to benefit as prices here grew modestly throughout the bubble times elsewhere. Austin's projected equity accumulation in the years ahead is one of the nation's healthiest according to a recent study (See pdf article here, page 5 and page 15)

While the Austin housing market has realized some price increases over the past decade, we have been insulated from the steep price drops seen in coastal markets and places like Arizona and Florida. Although market conditions are tough nationwide, Austin remains stable in comparison due to a formidable economic base and a healthy job market with 4 of the nation's Top Ten cities for growth located here in Texas. These factors also account for the steady stream of new residents who come to Austin for the sunshine and good jobs. [For more statistical data: http://austintitle.com/statistics/map2.php]

Best Cities to Live, Work and Play (Austin is #6)

Our approach this year to picking the ten best cities in which to live and work was simple: Look for places with strong economies and abundant jobs, then demand reasonable living costs and plenty of fun things to do. When we ran the numbers, some of the names that popped up made us do a double take at first. So we hit the road to meet movers, shakers and regular folks, experience the ambience and take in the sights.
We discovered that our numbers guru, Kevin Stolarick, hadn't steered us wrong. Stolarick, research director at the Martin Prosperity Institute, a think tank that studies economic prosperity, says: "Our formula highlights cities not just with strong past performance, but also with all the ingredients for future success."

One key to a bright future is a healthy shot of people in the creative class. People in creative fields -- scientists, engineers, architects, educators, writers, artists and entertainers -- are catalysts of vitality and livability in a city.

The cities that made our list also represent larger surrounding areas. And because we understand that city living isn't for everyone, we've highlighted some great suburbs, too.
Pack a bag and join us on a tour of the Best Cities for 2008 and prepare for some surprises.
No. 1: Houston,Texas
No. 2: Raleigh, N.C.
No. 3: Omaha, Neb.
No. 4: Boise, Idaho
No. 5: Colorado Springs, Colo.
No. 6: Austin, Texas
No. 7: Fayetteville, Ark.
No. 8: Sacramento, Calif.
No. 9: Des Moines, Iowa
No. 10: Provo, Utah

From Kiplinger's Personal Finance magazine, July 2008

Austin: Top 10 "Recession-Proof Cities"

Austin was named third on the Forbes.com list of the top 10 "Recession-Proof Cities" in the United States.
To create the list, the magazine looked at the 50 largest U.S. metros, examining key measures, such as unemployment data, non-farm related job growth, median home prices and data from a 2007 report, "U.S. Metro Economies: The Mortgage Crisis" by the U.S. Conference of Mayors.

At number three, Austin was right behind San Antonio, which grabbed the second spot thanks to solid employment figures and affordable home prices that continue to rise.
Oklahoma City took the No. 1 spot because of its strong housing market and solid growth in agriculture, energy and manufacturing. For its part, Austin was lauded for being a hip town with one of the lowest unemployment rates in the country.

Forbes magazine's list of recession-proof cities also included: Houston, Dallas, Charlotte, N.C., Raleigh, N.C., Salt Lake City, San Jose, Calif. and Seattle.

Forbes says that Texas cities such as San Antonio, Austin, Houston and Dallas-Fort Worth have benefitted from historically lower home prices, land availability and 'little zoning'. All four Texas cities boast falling unemployment rates, according to Forbes, with Austin dropping from 3.8 percent to 3.6 percent.