AUSTIN — When many people think of Austin, Texas, they might think of any one of the city’s various Super Bowl-sized festivals such as Austin City Limits or South by Southwest.
However, the city is also becoming well-known for being one of the country’s fastest-growing economic engines because for the fourth year in a row. Earlier this year, Forbes Magazine named the Texas capital the fastest-growing city of 2014.
According to Forbes, the city’s low unemployment rate (4.89 percent), high median pay of $64,000, and population growth rate of 2.5 percent last year are once again reasons to make it the top city in the U.S.
Austin has not always been the model of economic growth that it is now, and it took a conscious effort to make the city what it is today.
According to Austin Mayor Lee Leffingwell, the city’s original prosperity hinged on the tech industry.
“For many, many years we were kind of a sleepy college town — capital of the state of Texas,” Leffingwell said. “And then about 30 years ago, we began to build our technology economy and that’s when things really took off.”
The city’s tech boom saw the startup of Dell computers in the Austin suburb of Round Rock in 1984, as well as Austin itself becoming a manufacturing hub of computer parts, said Carlton Schwab, president of the Texas Economic Development Council.
“For a long time, like we are now in the Internet space, we were the downstream recipient of Silicon Valley in wafer manufacturing,” Schwab said.
- The Pac-12 football season nears kickoff
- Tips to get ready for a pain-free golf season
- Protect your family with these 7 home security features
- How to train like an Olympic swimmer
- 2016 Olympics: A guide to must-see TV events
- The bride's guide to feeling your best on your wedding day
- Deciding when you need knee surgery
- Celebrating Fourth of July is much cooler in these AZ towns
- Top ten road trip bathrooms in America
- Six things causing a pain in your neck
- 5 things to make your summer move easier
- Three elements of a strong timeshare exit guarantee
- Stretches and exercises for carpal tunnel syndrome
- The best Major League ballparks have their own personality
- Comparing the best regular seasons: The '96 Bulls and '16 Warriors
- 3 Arizona road trips and the vehicles to get you there
- Colon cancer is preventable. Check these signs and symptoms to stay healthy.
- 6 of the biggest skin cancer myths
- Affordable small home makeover ideas
- Locals helping locals: 6 success stories you need to know about
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Overlooked water tips to save you money
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food