RRR Austin

Thursday, September 21, 2006

Austin's Job's Grow by 51,000 since 2003

Opportunity Austin is an economic developement that was to bring 72000 jobs to the local area. Since the end of 2003 they have been key in bringing in 51000 jobs thus far.

They were instrumental in getting 76 companies have relocated to the region only 24 short of their goal in half the time!

Some of that job growth was "recovery growth" being that between 2000 and 2003, the region lost 3.7 percent of its work force, or 25,000 jobs.

Even with the loss of that workforce Austin continued to have a lower unemployement rate than most major markets and the national avg.

A large part of that job loss was due to Austin's lack of Job Diversification. When Tech busted, so did Austin's work force.

This time around, diversification is the strategy. Healthcare has already grown significantly, engineering fields such as bio-medical and wholesale trade are some of the key businesses that have started or relocated to the Central Texas Area.

Plus, I think job growth is always easier when you have WINNING TEAMS!! Go Horns!

Steady job growth is good for Real Estate...better than hype even...at least for the longrun.


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